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January 29, 2021

Why Are Diamonds So Expensive? [And Worth The Price!]

For thousands of years, diamonds have existed as a symbol of wealth and luxury. It is one of the hardest materials in the world but why are diamonds s expensive? Here are some interesting facts on why these precious gemstones are highly coveted.

pear cut diamond ring

Reasons Why Diamonds Are So Expensive

Natural diamonds are hard to mine

Diamonds are found hundreds of miles underground. However, they are carried on higher grounds because of rocks and volcanoes. With the use of heavy-duty types of machinery and explosives, tunnels are formed to cover a wide scope of land area.

Currently, the Kimberley Big Hole is known to be the deepest mining hole and in 1914, a whopping 3,000 kilograms of diamonds were excavated. To put the depth into perspective, the Marianas Trench which is the world’s deepest point is only 6.7 miles deep

The cutting process is complicated

Certain factors affect the price of diamonds and these are called the 4Cs: Color, cut, carat, and clarity. The cut grade is based on the gem’s ability to reflect light. Gemologist undergoes thorough research and evaluation to study the best angle to achieve the desired brilliance.

This factor is most technical since it involves precise workmanship and artistry. Having the best craftsman and getting it GIA graded plays into the price of these rocks.

Natural diamonds are 1 billion to 3.5 billion years old

The James Bond movie truly said it best, “Diamonds are Forever”.

While dinosaurs are said to have existed 200 million years ago, diamonds are about 3.5 to 1 billion years old. At around 3 billion years ago, the earth was still said to consist mostly of water. This explains why after the exhaustion of land mining, deep-sea mining has composed the majority of diamond production.

In history, the earliest trading was said to happen in India during the 4th Century B.C. In writing, they are mentioned about 5,000 years ago.

However, it was only in the 1800s when the influence of diamonds reached western Europe and the United States. By this time, diamonds were already a sign of wealth considering that most of them are shipped from far countries like India and Brazil.

Competition in diamond production

Today, natural diamonds are even harder to mine considering that the industry has the toughest competition. This resulted in the creation of lab-created diamonds.

Visually there is no difference between lab-created and natural diamonds. However, many affluent people still prefer natural ones because most of them find the history of the gem – where and when it was discovered – to be a great asset in their jewelry collection.

Nevertheless, lab-grown diamonds are as genuine as natural diamonds. They are both 100% carbon, they sparkle the same. The difference cannot be seen, even by the trained eye, and lab-grown diamonds likewise get certified by the GIA. They are also a great option if you are concerned about Mother Nature, as lab-grown diamonds are regarded as an eco-friendly option.

Where to find quality diamonds

If you are looking to surprise someone or buy for yourself a high-grade diamond, you can count on AaLand to be a trusted source of high-quality gems.  Book an appointment with us today and we shall help you pick your diamond jewelry.

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