When you look at a piece of jewelry that has diamonds on it, you will find them very expensive to purchase. This might make you wonder why are diamonds so costly to purchase. The answer where is not that simple. The cost depends on many factors and today in this post we explain why the price is so much compared to other jewelry.
Important Reason for Diamonds to be Expensive
There are several factors that determine the cost of the diamonds to the expensive, some factors are given below-
When most people think about diamonds, they see them as having a clear look; nevertheless, there are other possibilities. Diamonds may be found in a diverse spectrum of colors. In point of fact, the sheer number of shades available can take you by surprise. The following are some of the colors of diamonds that are available:
It is not always the color itself that is important, but rather the quality of the color. The Gemological Institute of America (GIA) uses a D–Z color grading system to categorize gemstones according to their color.
The color of diamonds that have been given a grade of D is the most accurate, while the color quality of diamonds that have been graded higher than D is progressively worse.
The price of the diamond will vary depending on the grade. Because diamonds with less color are considered to be more flawless, the yellow tint of a Z-grade diamond will make a D-grade diamond seem to have more transparency. Since defects produce color, fewer colors result in more value.
The vast majority of engagement rings have a grade that falls anywhere between F and G. Due to the fact that specific colored diamonds are much rarer than others, the color grade alone is not the only factor that is taken into consideration; equally relevant is the rarity of the color.
For instance, there are only around 20 to 25 red diamonds in the world, which places them in the category of the rarest gems that can be purchased. You should anticipate that the cost of these gems will be quite high. For example, a price of $8 million was paid for a 5.11-carat red diamond. The next rarest colors of diamonds are blue and pink, both of which are very uncommon.
The vast majority of diamonds are cut down from bigger stones. The value of the diamond may increase if it is cut with precision, but it may drop if it is cut with incorrect proportions. There are three cut grades that are acceptable to the majority of jewelers, and they are as follows:
- Ideal = top 3%
- Very good = top 15%
- Good = top 25%
There is a wide variety of cut and form options available for the diamonds. Some of the shapes are mentioned below-
- Princess: A princess cut diamond is one of the newest forms available and combines elements of both a round and square cut diamond.
- Emerald: The emerald diamond is a step-cut rectangular stone that conveys a feeling of refined sophistication.
- Pear: The pear cut, which is also often referred to as a teardrop cut, is a very royal-looking shape.
- Marquise: The marquise is a long cut that resembles a grin and does a particularly good job of flattering the owner’s hand.
- Heart: As its name implies, this diamond is cut into the form of a heart, making it an excellent option for giving as a token of love.
- Cushion: The cushion cut is an old-fashioned oval shape that has clearly big facets.
- Round: A round brilliant diamond has 57 or 58 facets and improves the amount of light that is returned to the eye.
The quality of the cut determines the value of the diamond considerably more so than the shape of the stone itself.
The quality of the diamond is referred to as its clarity, and the clarity rating is determined by carefully inspecting the stone for flaws, blemishes, and other flaws. There is no such thing as a flawless diamond. They are all flawed in some way.
Because the vast majority of individuals are unable to detect these faults with the naked eye, an expert evaluates each diamond. The quality of the diamond is referred to as its clarity, and the clarity rating is determined by carefully inspecting the stone for flaws, blemishes, and other flaws.
The following is a scale that is used to rate diamonds based on their clarity:
- FL = Flawless
- IL = Internally Flawless
- VVSI/VVS2 = very, very slightly included
- VS1/VS2 = very slightly included
- SI1/SI2 = slightly included
- I1, I2, I3 = imperfect
It is estimated that just 0.5–1 percent of all natural diamonds are perfect, making them a very valuable and sought-after gem (and very expensive). The clarity grading of a typical engagement ring is VS1 or VS2, with SI being the highest possible quality.
The unit of measurement known as a carat was developed specifically to indicate the weight of diamonds. One to two carats is the typical weight range for an engagement ring. Naturally, bigger carat weights result in higher prices.
It is vital to realize that the carat is not the only or even the primary factor that determines how much a diamond is worth. Carat weight plays a significant part in determining the price, but it is not the only one. The whole of the four components of the four Cs is relevant here.
The gigantic 3,106-carat Cullinan Diamond was discovered in 1905 by Frederick Wells, who was the supervisor of a diamond mine. To this day, the Cullinan Diamond is the biggest diamond ever found.
This particular diamond was finally cut into nine individual diamonds, and each one of those diamonds is very valuable and fetches prices in the millions of dollars. When you visit the Tower of London, you will get the opportunity to see some of the items that are included in the Crown Jewels.