Diamonds are one of the world’s most valuable resources, and these days it’s not uncommon for people to have diamond rings. However, did you know that the value of a diamond is based on more than just its size? Carat weight has a lot to do with how much your diamond is worth. For example, a 1-carat diamond may only cost $1000 while an identical 2-carat diamond may go for up to $4000. The difference in price is because larger diamonds are rarer and harder to find than smaller ones. Besides carat weight, there are other factors that influence the price of diamonds: cut, clarity and color. The cut of a diamond greatly affects its value. Being able to cut a diamond has been considered an art in many societies.
Significance of Diamond:
To begin with, diamonds are a girls best friend. Celebrations of marriage and birthdays for women are greatly enhanced by the presence of diamond jewellery. Diamonds are considered as the world’s most precious stones and have been treated so since time immemorial. Highly popular among ladies, diamonds have come to represent eternal love and relevance in the society.
The diamond is a curious layered crystal structure made from pure carbon that is used as a gemstone. It has been historically associated with the soul and breath, life energy, abundance and glory – making it a highly desired status symbol across cultures and societies. Miners discovered diamonds some 5000 years ago in South Africa; at that time they were considered worthless pebbles. In fact, it was not until the late 1830s that diamonds became known for their brilliance and true value – this was largely due to the discovery of huge diamonds in Brazil. Since then, interest in diamond mining has skyrocketed as miners strive to find these rare stones.
A History of Diamond:
Diamonds have been highly valued throughout recorded history; bloodied swords were found on Egyptian tombs covered in them. In India, diamonds were ground into powder and swallowed to ward off evil spirits and disease; they also thought if given away it would bring the receiver good luck. In Ancient Greece and Rome Diamonds were used as talismans of power and strength but were not given much value as a gemstone. The Roman Catholic Church even used a large diamond called the Magna matter. Today diamonds are used for many things besides jewelry such as industrial applications; for instance, silicon carbide is manufactured from synthetic diamonds for disk cutters and lathe tools. Diamonds are also utilized in production of scientific equipment like mass spectrometers and high-power microwave-producing magnetrons.
Things that determine the worth of Diamond:
1) Rarity: Rarity of a diamond can be affected by factors like time, area, purity.
2) Quality: The quality of the diamond. Factors that affect its quality include, but are not limited to, the source of the diamond and how it was mined.
3) Reflection: Reflection of light on the diamond. A diamond that reflects light well could be worth more.
4) Color: The color of the diamond is significant in terms of how it reflects light and can affect its value. Normally, the color of a diamond can only reach within a range of dull to vivid yellow to violet.
5) Clarity: It is a measure of transparency or lack thereof in which imperfections are visible.
6) Cut: Diamond cut heavily influences the price it receives.
7) Retail Value: The price at which a diamond is bought by those who are not familiar with or knowledgeable about diamonds, either from resale from a jeweler or from online auction sites such as eBay.
8) Quantity: The size and shape of a diamond also determines its worth. Smaller diamonds have less value than large ones even if they are more rare and harder to find than larger ones.
9) Wearability: The value of a diamond will also change, if you can’t wear it. In this case, the only way to determine the value of a diamond is to cut it into smaller pieces that can be worn.
The diamond is a fascinating stone that has been treasured for thousands of years. Understanding how the worth of a diamond is determined will help consumers know how to purchase and sell diamonds in an effective and profitable way. The different factors that determine the value of a diamond are important to keep in mind so you will know not only how to buy diamonds but also how to sell them as well.