5 Reasons why Diamond is Considered as Most Precious of all Gemstones
Any material, item or commodity becomes precious when they have a limited supply.
10:57 02 January 2022
If the supply is flush, then the price will not be too high. Prices are driven higher when there is more demand and a fixed supply – which applies to diamonds. Diamonds are precious stones, one of the most precious in the whole world. Here are reasons why a diamond is considered a precious gemstone.
1. Sign of power
Diamonds have been a symbol of wealth and power for decades. At that time, it was a rare find and hence were worth a lot more. It has long been considered a valuable stone. Ancient Greeks actually revered the stone, believing it to be indestructible and have mystical powers.
2. Lasts long
These stones are hard and have a durable quality to them. This is why they are passed down generations, often as jewellery and family heirlooms. They are not crushed, scratched or destroyed easily.
3. The Look
Diamonds have a certain look – they sparkle and shine and this characteristic is inherent, irrespective of age. The clarity, cut and colour of a unique stone will make it shine and sparkle like no other. This is what makes a diamond have a high value.
4. The cost
Getting a clear diamond and of a large size is quite rare. The market may be flooded with diamonds right now and the costs aren’t that much. But the truly sparkling and shining stone will be costly. The clarity of a diamond gives it the shine and many diamonds don’t have that. Plus, because they are naturally created, one can’t really control the clarity in a stone.
5 Physical property
They are one of the hardest materials and can cut marble, glass and granite. They are also good thermal conductors and can act as electrical insulators. Outside jewellery, diamonds are used in medicine, industrial machinery and high-end audio equipment.
Today there are lab grown diamonds uk as well and they are quite popular amongst couples. But diamonds are not the only precious gemstones in the world. There are others as well.
Red diamonds come at a price tag of $1 million per carat and there are less than 30 red diamonds in the world. Most are less than half a carat and the largest one in the world costs $8 million. The red colour doesn’t come from an impurity but from the plastic deformation of the crystal lattice. Because it is so rare, the price is so high.
Taaffeite is a rare mineral and can be misidentified as spinel. It was first discovered in Dublin when it was cut and polished as a spinel. Taaffeite has double refraction and these gems can be found in alluvial deposits of Tanzania and Sri Lanka. However, most precious gemstones can also be found in Hatton Garden Jewellers.
Grandidierite is also a rare gem that can cost up to $20,000 per carat and was discovered first in Madagascar. It is found as an accessory mineral on aluminous boron rich rocks.
Fetching up to $18,000 per carat, Serendibite can be extremely rare and was first discovered in Sri Lanka. It has a complex chemical formula and is very rare, making it super precious.
A good Jewellery mag will talk about all the precious gemstones in the world and advise on what best suits a consumers’ needs.