When it comes to jewelry, it is a well-known fact that diamond is an option that represents luxury and high status, which makes it much more popular than other gemstones and materials. For example, a golden ring with a diamond rock is the most popular choice for engagement and weddings. Besides rings, we can find them in many other types of jewelry like necklaces, wristbands, earrings, and more.
While we all know how expensive it can be, a lot of people are not familiar with the main reasons for that. For instance, there are many misconceptions these days where' people think that the size of the rock is an important factor, or that they are very rare. While there are some types of diamonds that indeed are rare, the most common white type can be found in many mines, and there is a huge market for this product.
On the other side, it is very important to learn more about diamonds so you can avoid potential frauds and other problems. The worst case would be to buy an item with diamond that is fake.
Moreover, it is important to understand what gives this gemstone a true value so you can make the right decision and invest in something that won’t lose value over time. In this article, we are going to introduce you to some of the main factors that affects the diamond price.
Contents
1. High Popularity
One of the main reasons is that people love this piece of jewelry. As we already mentioned, it is linked with high status and luxury, and people interested in spending huge amount of money for a piece of jewelry with a diamond on it.
Therefore, it is not a surprise that this market is quite stable, and that the prices are very high. However, you have to know that selling your piece to some jewelery won’t provide you with a decent value. The reason for that is that the real value of diamond is much lower, but the market is dictating a higher price.
2. Attractiveness
It is simple to understand the reason why so many people would choose this option over many other types of jewelry. That is related to the appearance of this rock, which is shiny and transparent, it can come in various shapes, and the light that gets through it makes it even more attractive. It appears luxurious and represent a perfect combination with some elegant outfit.
However, design and appearance are not the most important factors. A lot of people would be ready to pay a lot of money for a gemstone only for its physical features, while they are not checking the background and some other details. That is the main reason to always consult an expert before you spend a lot of money.
3. Rarity
While the most common type is the white one, there are some versions that are quite rare to find in nature. Another important thing that you have to know is that not all of the diamonds that are found in nature are good enough to be used as jewelry. That is also a reason to find more details about the seller and speak with someone who have proper knowledge and experience in this area.
On the other side, there are some rare options, and they can cost a lot of money. For example, pink, blue, and red. The interesting fact about red type is that there are less than 30 stones found by now in the whole world. Therefore, it is not a surprise that the price is worth millions of dollars.
4. Quality
It is a common misconception that size has to do anything with the value of some gemstone. Instead of the size, the crucial factor is related to the number of carats. It represents a method for evaluating the price and quality of some stones.
The main features that it will evaluate are the weight and mass, along with the size. However, you should know that bigger is not always the better since there are smaller stones with a higher carat value.
5. Details
Another factor that can affect the value is related to additional details on the rock. You should know that applying any details and making changes on this type of stones is quite difficult since diamonds are strongest material on earth.
You can find it in all types of shapes like round, triangle, square, and more. Also, when there are more details added to it, it is common that the price will be higher as well.
6. Sentimental Value
It is a long tradition where' people prefer wearing this type of jewelry. Therefore, some pieces are being spread from generation to generation for centuries. In that matter, there are some models with a quality that is not so great when compared to the features of some rare stones, but the main reasons why the price is so high are related to previous owners, year of production, and more.
Last Words
There are some other reasons for increasing prices in recent years. First of all, we have to mention that current mines are lacking of this resource, which means that there is a need for new mines. However, mining business is very expensive, and when a company find a new location with diamonds, we can expect that the stones found there will be even more expensive than the market value for the same models.
There are some companies that are making artificial diamonds as well by creating some processes that were applied in the nature. This is a much better solution since it promotes ecology and the importance of limiting the number of mines.
Still, more people are interested in buying those options that were found in the nature. While the quality and size are important factors, the popularity linked with high status are still the main reasons why these stones have such a high value.