Diamonds are expensive because they cost a lot to produce and bring to the market. You might want to present your loved one with a stunning diamond engagement band as a proposal. Some may require to purchase loose diamonds in order to create a custom ring. The high cost of natural diamond bands is one of the factors that influence people to choose inferior diamond jewelry. If you don’t earn a lot of money, it might be challenging for you to afford a lovely engagement ring because diamonds can be pricey.
Learn more about a few of the reasons that go into why diamond prices are so high.
Issues With The Mining Process
Diamonds naturally form in a high-pressure, heated environment far below the earth’s surface. These hidden gems require a lot of work to be retrieved from the earth. Heavy machinery, hydraulic excavators, trucks, and other expensive, challenging-to-operate tools are used in mining. This machinery moves the ore to the top so that the diamonds can be extracted.
A diamond must first be cut and polished by a diamond cutter before it can be sold. It takes a lot of time and effort to mine, cut, and polish diamonds. The difficulty of this is without a doubt the reason why diamond costs are higher.
Diamonds Are Rare
Diamonds aren’t particularly uncommon, on the whole. On the other hand, high-quality diamonds that are used in jewelry are rare. Only about 30 percent of mined diamonds are gem grade. Due to their rarity, these stones increase in value, making mined diamonds costly. The expensive cost of loose diamonds can be attributed to their rarity.
The Mohs Hardness Scale, which rates the durability and sturdiness of gemstones, gives the diamond a rating of 10. With such a high ranking, diamond is one of the world’s hardest materials. It is very difficult to scratch a diamond’s surface, but it is much harder to shatter or crack it. One of the many characteristics that set diamonds apart from other gemstones is their incredible endurance. It is also one of the factors that affect the price of a diamond.
How Much Does A Diamond Cost?
Without a doubt, diamonds are costly. The price of a diamond, however, varies based on the stone. The price of a diamond is influenced by its carat weight, cut, purity, color, and other factors. The typical price range for a one carat stone is $2,700 to $5,500. If you’re buying on a tight budget, keep this in mind. If color is not essential to you, for instance, pick a diamond with a lower color rating to remain within your price range.