Why is a diamond so expensive?

Why is a diamond so expensive?


Round Brilliant Cut
Did you know that the global diamond jewellery industry is worth more than US$72 billion each year? That’s a lot of engagement rings!

When a diamond is mined from the ground, it does not come out in a Tiffany’s four prong setting, instead it is referred to as a ’rough diamond’. From here it must be sent to one of the major cutting and trading centres. Either Antwerp, Mumbai, Tel Aviv, New York, China, Thailand or Johannesburg.

At these major shopping trading centres the diamonds are sorted, cut and polished by Diamantaires (diamond experts), into different shapes.

The most common shapes are known as: the round brilliant (the classic Tiffany engagement ring), the oval, the pear, the heart and the emerald.

From here they are classified using the four C’s: Carat, Clarity, Colour & Cut.

So what are these four C’s and how do they use these to value your diamond?


Pear Diamond Engagement Ring
Carat:

Each carat weighs 200 milligrams or about .007 ounces. The more a diamond weighs the more expensive it is, relative to a diamond of same quality.


Oval Diamond Engagement Ring
Watch out for 1 carat diamonds, often cutters will sacrifice quality to keep the diamond bigger. Stick to .99 carats, or jump to 1.1 carats (you’re worth it!)

Clarity:

This is the measure of inclusions inside the diamond, also known as defects. They can be cracks, white clouds, a foreign material or another crystal.

Only about 20% of diamonds that are mined have a clarity rating high enough to be sold as a gemstone.

Colour:

“D” – Totally colourless, the most expensive. Don’t bother with “D”, go for “E” or “F” and spend the money on extra carats…


Heart Diamond Engagement Ring
“E” of “F” – These diamonds have very slight colour. Only perceivable by a diamond valuer in a lab.

“G” or “H” – Very little traces of colour.

“I” or “J” or “K” – Slightly coloured

Diamonds can be found in any other colour. The stronger the colour the more valuable they often become.

Cut

The better the cut, the larger your rock will appear and the better quality the light performance.

Light Performance is made up of three different properties. The aim is to have lots of the following.

Brilliance – the way the diamond reflects the white light

Fire – The colours that are produced by the diamond dispersing the white light

Scintillation – The small flashes of light when the diamond catches light.


Emerald Diamond Engagement Ring
Remember, when he proposes, this is not the time to ‘classify’ your ring… Wait until he turns his back he he, then its the four C’s.