Why are diamonds so valuable?

One of the most expensive jewelry that one can possess is diamonds. Known for their beauty, durability and rarity, diamonds are the ultimate sign of wealth, class and sophistication. One of the major reasons why diamonds are so expensive is because it is the hardest naturally occurring material; it is a carbon in its purest form and the rarest. 80% of the diamond mined is not even fit to be used in jewelry and colored diamond is even rarer. Although most of the diamonds are white, there are some that occur in pink, yellow, blue and green. Also a lot of work is put in to cut, polish and refine a diamond so that it can be set in platinum and made into jewels. So the harder the diamond is to cut (the best quality ones are the hardest!) the more expensive and valuable it will be.

Diamonds are also very valuable and expensive because of how the diamond market works. Looking from an economic perspective, diamonds are expensive because firstly, the diamond market is controlled by a few individuals who control the supply, creating a monopoly and thus keep the prices high. So in reality these diamonds might not be as expensive as they are sold and auctioned off in the market.

It is not just in the 21st century that diamonds have become popular. Described as the ‘fragment of stars’ and ‘tears of Gods’, they have been a popular gemstone throughout the centuries. Until the turn of the 15th century, they were a symbol of supreme strength. The Greeks being the great romantics of their time thought that diamonds were the ultimate sign of love and maybe that is why the tradition of diamond rings started off in the first place. Diamonds are also considered valuable because their monetary value doesn’t fall over time. Most consider it a solid, long term investment because you will be able to sell it at the same rate as you bought it unlike gold which fluctuates. Diamond jewelry is also the sort that never goes out of fashion and so many women would rather buy a diamond ring than a gold one. Moreover, diamond jewelry goes with absolutely anything! Whether you are going out for a casual lunch in jeans and a top or enjoying a formal dinner party in that gorgeous red evening dress, a diamond ring will solve all your problems.

In the end however, I think what sets these diamonds apart are their beauty and elegance, making them the king of all gems. People are awed by their perfection and marvel at a flawless creation of nature. Whatever the reason, we women just adore diamonds and nothing wins a heart of a girl like a diamond ring. As the saying goes ‘diamonds are a woman’s best friend!’