Is Diamond a 'Rare' Stone?

1. Is Diamond a ‘Rare’ Stone? • Source - https://medium.com/@joyari/is-diamond-a-rare-stone-2b93b9f51d6 • What comes to your mind when you think of “Diamonds”? I’m sure you would associate words like expensive, precious, valuable & even rare. But are diamonds really rare? Let’s check out the myths surrounding diamond & find out what makes it the most treasured stone. • ★ Diamonds are costly owing to the scarcity • Well if you compare diamonds with other precious stones, diamonds are the most commonly found precious stone. The cost per carat of a gemstone is determined by its rarity. Therefore other precious gemstones like ruby, sapphire, emeralds are much rare and turn out to be more expensive than diamonds.

2. Is Diamond a ‘Rare’ Stone? • ★ Cost of a diamond depends on its size • They say the bigger the diamond, the higher its price. But the size is just a single factor in calculating the value of a diamond. The cost of a diamond works on the principle of “Four C’s” namely carat, clarity, cut & colour. A 10-carat diamond might look big but might be worth a small-sized diamond if its clarity is low.

3. Is Diamond a ‘Rare’ Stone? • ★ The price of a diamond is inflating due to depletion • The reserve of the colourful diamond is depleting continuously but the supply of white diamond isn’t at any risk. Diamonds were hard to find initially, but now with the help of extensive technology more mines have opened up increasing the global supply of diamonds with Russia being the top supplier. • What makes a diamond a prized-possession? • The word diamond has been derived from the Greek word “Adamas” which means “unconquerable”. Diamonds were formed 900 million years ago but were discovered in India in 4th century BC & transported mostly to other countries. Until the 15th Century, only the kings were allowed to wear diamonds due to its endurance, brilliance & ability to refract light.

4. What makes a diamond a prized-possession? • However, in the 1800s, a massive diamond mining operation was started in Kimberly, South Africa when massive reserves were unearthed. This helped in increasing the global supply of diamonds but decreasing its value. With this other gemstones like rubies, emeralds and other coloured stones became more popular as the diamond was losing its rarity. • In 1880, De Beers consolidated mines controlled the diamond supply & maintained a strict watch on the global diamond supply and released limited diamonds only to meet annual demand, thereby creating an illusion that diamonds were rare. With limited supply, the price of diamonds inflated again. De Beers had dominated the global market of diamonds for years but with the discovery of more mines all around the world made diamond the most sought after gemstone.

5. Joyari • The ancient Greeks believed that the radiance of the diamond reflects the ‘undying flame of love’. This stands true as the diamond is more than just a beautiful gemstone, it’s a symbol of love & commitment. This dazzling and captivating stone surely leaves us to spellbound to this day with its enthralling beauty. Keeping the demand in mind, now few players are selling diamond jewellery online. That means you can buy diamonds from your home, office or even while travelling in just a few clicks.