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You can read several opinions, below. Directly, you can purchase industrial diamonds by the bag full for the price of a latte.

Expensive -- gemstone-quality -- diamonds are the most rare in colour, clearest, heaviest and with perfect cuts. You can pay less for a large diamond that is not a top-quality diamond.

Only about 20% of all diamonds mined are gem-stone quality and of those only a rare free are truly valuable.

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The real answer is that De Beers created a monopoly over diamond mines in the 19th century. That allowed them to artifically shoot diamond prices up through the roof. Their marketing strategy suggesting that diamonds should cost 2-3 months of an average salary is something they simply made up. Diamonds are not as rare as their prices suggest. They should be half as expensive as they now are.

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The above is true but depending on the quality of diamonds you are after. Gem or high quality diamonds are in low supply while the lower quality is in huge supply. De beers are in business and aren't always fair to the smaller players in the industry but they certainly don't control nature and you can't force 3 to 10 carat flawless or VSI (very slightly included) diamonds out of the ground. I envision a time when diamond prices will be so high that we'll have to opt for lower quality stones.

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11y ago

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