Why are diamonds so expensive?

But just why are diamonds so expensive?

How many times have you walked into a jewelry shop and gasped when you saw that a small, cute diamond ring was more expensive than what you could earn in a month? Sure, diamonds are nice, but why in the world would such a small stone be so expensive? They aren’t even so rare, to begin with, so what should justify their price tag?

Well, there are a few reasons for that. First of all, indeed, the diamonds themselves aren’t that rare – but what’s rare is finding a good diamond piece that can actually be used in jewelry. Most of the diamonds that we get from the earth don’t even have a passable quality or size, so they just end up being repurposed for non-jewelry-related things.

It is very difficult to find a diamond that has an appropriate color, carat (size), and clarity. Plus, think about the efforts involved with finding those diamonds. Sure, you can make synthetic diamonds in the lab – but their quality often won’t match the one we find in mines.

So, adding the excruciating hours that miners spend digging for diamonds to the time that it takes to transform that diamond into a shiny jewelry piece, you get a very expensive stone. Plus, to cut a diamond into the perfect shape, you need high-end tools and the steady hands of an expert. One wrong move and a small diamond could be rendered unusable.

In the end, it’s not the diamond itself that is so expensive; it’s the process to get that perfect diamond. It took years, billions perhaps, for the diamonds to be formed. And it takes days to be brought into the shape that we are acquainted with. Considering the lengthy process that goes into turning them into jewelry, it is understandable why they have such a hefty price tag.

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