Have you ever wondered? What made Stones out of carbon atoms so expensive in the first place? Exposed to high pressure and temperature for millions of years truly justifies its rarity? Did Exclusivity packed with true craftsmanship led Diamonds to become one of the most expensive gemstones in the world? Well, in this article, we look forward to unveiling everything there is to know about Diamonds.
While the value of diamonds is completely arbitrary, their universal allure is what keeps them in demand. Since the olden days, diamonds have been considered one of the earliest forms of currency. Fast forward in the 21st century, it is considered the symbol of love, wealth, and prosperity.
The rarity of diamonds packed with their visual appeal is what makes them so valuable. Even the lower grade diamonds are a thing of beauty. Color, clarity, and sizes are also some of the prime factors to determine the diamond's value.
Table of Contents
Which Diamond Shape is Most Expensive?
Pricing for every other diamond shape is not the same. Based on the specifics of a particular shape, almost 40 to 65% of the original stone weight is lost. This is one of the most important factors that determine the cost of a shape. For example, a Princess Cut Diamond wastes only 40% of the rough stone, while an oval can waste up to 55%.
Based on the same, Round Cut Diamonds are the most expensive. Once the entire cutting and polishing are finished, the diamond only retains around 35% of the initial stone, and the discarded part of the rough can't be further used.
Apart from the shape itself, the cut quality also adds up to the price. Any "Excellent" or "Ideal" cut grade is often expensive than "Good." Round diamonds with the properties like the "Hearts and Arrows" as well as optimum proportion also determines how much a diamond is going to be valued.
Which Color Diamond is the Rarest and Most Expensive?
When it comes to diamond colors, the more colorless a diamond can get, the higher value it gets. This color range is applicable for most of the diamonds except the fancy colors such as blue or pink. That being said, most of the diamonds you can find out there in the jewelry store runs from having a slight tint of either yellow or brown to near colorless.
The industry-standard for color grading starts with the letter D and ends with Z. Each grade letter signifies a color for the diamond, where D is most color-less, and the more color letter goes lower, the more shade it has. E.g., Color J will have more color shade than color F. Color-less diamonds are less in availability and more in demand compared to lower colors; thus, D is the most expensive in range, and Z is the cheapest.
Naturally occurring rare fancy colored diamonds are often expensive than regular color-less diamonds. Applying the basic rule of economy, the rarer any diamond gets, the more expensive it becomes. Taking about extreme rarity, the Red Diamonds are the hardest to get, thus becoming the most expensive diamond color.
They come in various intensities, where a pure red color is almost next to impossible to get. The most renounced red diamond is Mouraieff Red. It is a 5.11 Carat Pure Red diamond, also called Fancy Red Color. In fact, these Fancy color diamonds are of such rarity that two diamonds with similar properties can have completely different price segments.
Some of the other colors of diamonds based on their pricing are as follows:
• Affordable Colored Diamonds:Brown, grey, and diamonds with yellowish tints.
• Mid-Range Pricing:Orange and intense or higher yellow-colored diamonds.
• Premium Pricing Diamonds:Purple, pink, and green colored diamonds.
• Ultra-Premium Diamond: Undoubtedly, blue and red-colored diamonds are the rarest of all.
Which Clarity is the Rarest and Most Expensive?
While all diamonds look the same through naked eyes, diamonds can be broadly divided into various clarity. In simpler words, it is a qualitative metric used to grade the diamond's visual appeal. A higher clarity grade determines that the diamond has lesser blemishes.
Based on the clarity, the Flawless (FL) diamonds are the rarest and most expensive. As its name suggests, these diamonds don't have any internal or external imperfections whatsoever. Since diamonds are formed in the Earth's mantle layer at extreme temperature and pressure, diamonds with D/FL clarity are always harder to find.
Types of Diamond Clarity:
• Flawless: absolutely no flaw internally and externally
• Internally Flawless: No flaw internally but can have some polish or natural flaw on the surface of the diamond
• Very Very Slightly Included – 1st Degree (VVS1/2):The only difference between a VVS and IF diamond could be a single pinpoint or very small inclusion. Diamonds are often magnified to almost 50 to 100X to find such inclusions.
• Very Slightly Included – 1st Degree (VS1/2):This is where the clarity starts to significantly bring down the diamonds' price. Although still not visible to the naked eye, any ordinary 10-20x microscope would be able to pick up these inclusions.
• Slightly Included – 1st Degree (SI1/2):Based on the cut of the diamond and the inclusion position, they can be harder to find. But usually, S1 clarity indicates the diamond has a cluster of tiny spots.
• Included– 1st Degree (I1/2):With the I1 clarity, one can easily pick the inclusions just by look at it. But you can still find diamonds that look perfect to the eye with I1 clarity.
Why Some Fancy Colored Diamonds are Sold in Millions?
In 2013, the Argyle Phoenix, a 1.56-carat red diamond, was sold for more than 2 million USD. In other words, the price of the diamond reached 1.28 million USD per carat. Another instance, where the Blue Moon diamond (named after its color and rarity) was auctioned for 56 million USD.
One of the underlying reasons these fancy colored diamonds are sold is millions because of their extreme rarity. The possession of such jewels has always intrigued us. Since these naturally occurring diamonds are so rare and harder to get, it clearly depicts power, wealth, and prosperity, bumping their prices to even millions.
How Much Should Diamond Actually Cost?
Unlike pearls or even Jade, no two diamonds can have the exact pricing. There are several determining factors when it comes to evaluating the price of the diamond. Primarily the 4C's (Color, Clarity, Carat, and Cut) packed with its shape and fluorescence determine the pricing.
In 1978, Martin Rapaport set up the quantitative approach to properly evaluate diamonds. His initial metrics were Color, Clarity, and Carat. Now "Rapaport" is considered as the international price indicator for diamond dealers all around the world. This also allows the buyers to get fair pricing instead of personal judgment inflicted upon by the sellers. Just like you can get the best bank for your buck with Diamonds on Call. The superior grading system ensures that each diamond is checked independently. With 24/7 the clock customer support, you can always reach out to customer support based on your time zone.
The difference in a single grade can make a price difference of 5 to 30% in terms of clarity. Diamonds are generally colorless, but having a noticeable touch of pink or blue can significantly increase the overall worth of the diamonds. Lastly, cuts are also an integral part of evaluating the cost. An "Excellent" diamond cut is always 10 to 20% costlier and a "Very Good or Good" cut. Similarly, the higher the fluorescence, the cheaper the stone gets.
The Bottom Line
So, this sums up everything you need to know, why diamonds are one of the most expensive gemstones in the world, and how to evaluate them. With all the added information, the next time you are out there buying a diamond online for yourself or your customers, you can always make a better choice. Consider the budget and the preference; you can easily find the best fit you are looking for.
You can also check out the wide collection from Diamonds on Call. You can be rest assured to get the best price worldwide compared to any other platform. With state-of-the-art diamond grading, there's always that perfect diamond waiting for you at the Diamond on Call.