Diamonds have a reputation for being among the rarest things on earth. It is a lovely story, but it is only half true, and knowing the other half can make you a much sharper buyer.
Where the rare idea came from
As a mineral, diamond is not geologically rare. Mines around the world produce well over 100 million carats of rough diamonds every year, and billions of carats have been dug up since commercial mining began in the late 1800s. The sense of scarcity was largely built by one company.
De Beers once controlled around 80 to 85 per cent of the world's rough supply, released stones slowly to keep prices steady, and backed it with decades of advertising. Its famous 1947 slogan tied diamonds to forever, and the idea of rarity came along with it. Its market share is far lower today, but the story stuck.
What is genuinely rare
Here is the important part. Most of what comes out of the ground never becomes jewellery, and estimates of how much is gem-quality range from about a fifth to a half, depending on the source. Of that, the truly special stones are scarce.
A large diamond that is well cut, clean to the eye and free of any visible tint is hard to find, and fancy colours such as pink, blue and red are far rarer still. That is where genuine rarity and genuine value sit.
What it means when you buy
This is good news for you. It means you do not need to pay a premium for the word rare. Focus instead on what you can see and verify, which is the cut, the colour, the clarity and the certificate.
A beautifully cut stone of a modest size will usually look better on the hand than a larger, poorly cut one. If a seller leans on rarity to justify a price, ask for the report and compare like for like.
If you want honest advice on what a diamond is really worth, visit Azzallure. We will explain what you are paying for, stone by stone, so you can buy with confidence.