When you plan to propose to your loved one, you want to do it with a beautiful diamond engagement ring. Some people want a customized ring and for that, they have to buy loose diamonds. One reason why many people go for low-quality diamond rings is that natural diamond rings are very expensive. Diamonds can cost a fortune and if you are not earning much, it is almost impossible for you to buy a beautiful engagement ring.
Keep reading this article to find out some of the reasons for the high cost of diamonds.
Difficulties In The Mining Process
Diamonds are formed naturally far down the surface of the earth in a high-pressure, heated environment. It takes a lot of effort to get these gems out of the ground. Heavy equipment, hydraulic excavators, trucks, and other costly and difficult-to-operate machinery are all used in mining. This machinery transports the ore to the surface, where diamonds are recovered.
A diamond cutter should cut and clean a diamond once it has been retrieved in order for it to be sold. Diamond mining, cutting, and polishing are difficult and time-consuming tasks. Diamond prices are unquestionably higher due to the difficulty of this.
Diamonds Are Rare
Diamonds aren’t extremely rare in general. However, high-quality diamonds used to make jewelry are uncommon. Just around 30% of the diamonds mined are gem-quality diamonds. The rarity of these gems increases their value and that is why mined diamonds have a high cost. The high loose diamond prices are therefore caused by the rarity of the diamonds.
The Mohs Hardness Scale that is used to determine the strength and durability of gemstones, gives the diamond a score of 10. This high rating signifies that the diamond is one of the world’s hardest substances. Scratching a diamond’s surface is incredibly difficult, and breaking or cracking it is much more difficult. One of the numerous properties that distinguish a diamond from other gemstones is its amazing endurance. It’s also one of the variables that raise the price of a diamond.
Cost Of A Diamond
Diamonds are costly, there is no doubt about that. However, the price of a diamond may differ for each stone. Cut, clarity, color, and carat weight are all characteristics that influence the price of a diamond. A one-carat diamond will cost around $2,700 to $5,500 on average. If you’re purchasing on a budget, bear that in mind. If color isn’t essential to you, for example, choose a diamond with a little lower color rating to stay within your budget.