Marilyn Monroe, in one of her songs, stated that diamonds are a woman’s best friend. To further emphasize the importance of diamonds, the film studio with the legendary James Bond titled one of the movies “Diamonds Are Forever”. Jewelers and the powerful of this world unanimously claim that diamonds are the most valuable stones in the world. This is confirmed not only by songs or films, in which diamonds play key roles, but also by the prices of these precious stones.
Why are diamonds so expensive?
Let’s start from the beginning. These precious jewels are mined, among other places, in Africa, Russia, Australia, India, and also Canada. Prices reach high levels for a simple reason – substances commonly called diamonds are very rare in nature, and their extraction requires not only time but also specialized equipment and extraordinary patience.
An interesting fact is that diamonds are used not only in jewelry (although this industry still predominates in the use of gemstones). Since diamond is one of the most durable and toughest natural materials extracted by humans, and also one of the lightest, they are used, for example, in the production of medical equipment or as a component of cutting tools.
Diamond prices
Let’s return to reality. Diamonds are mined all over the world. However, as one might guess, not all diamonds are equal. Several important factors determine the price. The most important is size. The larger the diamond, the more brilliant cuts can be obtained from it (let’s recall, brilliant cuts are diamonds that have been processed for jewelry). The price also depends on the color and clarity of the raw material being mined. The better the parameters, the more expensive the diamond will be.Prices start from a few thousand and can go up to several million.
A curiosity for investors – diamonds are the perfect remedy for a bear market. As statistics show, diamonds do not decrease in value. A few years ago, an auction house in New York organized an auction of Elizabeth Taylor’s memorabilia. One of them was a diamond ring – the famous Krupp Diamond. This 33-carat gem was purchased in 1977 for a mere 300 thousand dollars. In 2011, it was sold for 3.5 million dollars! Of course, the persona who wore the jewelry contributed significantly to its value. However, this shows that diamonds, despite the passing years, are still a great and safe investment.
The most expensive diamond in the world
Currently, one of the most expensive diamonds in the world is considered to be the famous Cullinan, which weighed 3,106 carats. Until it was divided, it was also one of the largest diamonds ever found on Earth. It was discovered in 1905 in South Africa (specifically in Pretoria). The diamond itself, before being divided, was worth about 25 million złoty. It was decided that it would undergo processing – a total of 105 diamonds were made from the legendary Cullinan.