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What makes diamonds so expensive? -D. Rheingold Stamford, CT Diamonds are indeed expensive, yet they are the most under-priced gemstone at the same time. In fact, it may surprise you but gem quality diamonds are the most sought after substance on earth with the least amount of return.
Thanks to investing in state of the art mining equipment, diamond mines are more productive today than ever, yet 80% of all diamonds mined are still of industrial quality, and not suitable for jewelry.
Of the remaining 20% that are gem quality, only about one in a million will be a single 1 carat diamond, and only one in five million will be a 2 carat diamond.
The larger gem quality diamonds are not only extremely rare, but equally difficult to extract out of the earth. It's estimated that as much as 250 tons of earth must be removed to find one 1 carat diamond which is approximately the size of a large pea.
Once the diamonds have been mined, they then must be cut by a highly skilled diamond cutter who has had a minimum of at least 10 years experience cutting thousands of diamonds before his or her master teacher even allows him to cut a diamond as large as one carat. Only an expertly skilled cutter can then cut and polish a diamond to meet the rigid high standards of an ideal cut, and can only do so after sacrificing even more of the rough diamond's precious weight. |
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