Diamonds, as a gem category, are hardly a rare stone. They’ve been around for centuries, and some would argue that they are maybe a tad too expensive despite being in so much circulation, which is true. Diamonds really do appear to be the only commodity that cost a pretty penny despite more than meeting demand, but there’s no one simple cause to that effect here.
Here’s what drives up the price of diamond jewelry and loose diamonds.
If someone told you diamonds weren’t anymore important than healing crystals back in the day, you could bet an arm and a leg they were considered precious. In medieval times, when there was hardly a cure for anything, people put a lot of stock in non-scientific cure.
It’s hard to pinpoint exactly when people started wearing it for recreational rather than medicinal purposes, but that’s how it is today and has been as far back as the 1400s when Mary Burgundy got a diamond ring on her engagement.
The gem market is highly influenced by the legend of diamonds. It’s driven by the stories that have been passed down through the annals of history, never mind the introduction of manufactured diamonds.
You see, diamonds “constructed” in a lab setting have the exact same composition as those “formed” naturally, but the latter is still preferred for having come into existence on its own. If anything, artificially created diamonds, for not taking a billion years to exist, have driven natural diamond prices up.
Differences may not work so well among the human race, but the same theory doesn’t apply to diamonds. Each one is unique on its own from size to weight to shape, adding to its allure.
Moreover, the fact that it takes eons for pressurized carbon to turn into something exclusive and durable adds to its heirloom status.
It’s easier to sell loose diamonds than it is to mine them, a costly and tedious process. Only after sifting through tons of carbon do miners find the tiniest gems winking through the dark. After that, they need to be tested for quality, cut, and then polished because, believe it or not, a freshly mined gem doesn’t look much different than a literal diamond in the rough.
To get all of the above done, mine owners have to hire labor and equipment. Diamond cutting doesn’t come cheap, either, what with the princess and oval cuts being so technical yet such a popular choice among modern couples.
How to Find a Diamond Buyer in New York, NY
It’s difficult to sell diamonds for their original price, despite there being no depreciation overtime. If the youngest diamonds are millions of years old and still cost that much, yours is undoubtedly worth every penny you spent on it.
Make an appointment before visiting the store.