The more rare the material, the greater its perceived value, hence the more extortionate the price. Diamonds are more expensive than gold, even though they are far less rare than gold.
Is diamond more valuable than gold?
Since the value of gold is predictable and stable, gold has more value than diamonds. … Just like a car, a diamond’s value decreases once it leaves the showroom. Only a highly prized diamond, like a very large stone or an unusual color, will hold its value or become more valuable over time.
Why diamond is expensive?
The rarity, difficulties in mining, durability, cut, clarity, color, and carat of diamonds make them expensive and in demand. … Only 30% of the mined diamond stones match the standard gem quality that is required. It is this rarity of stone that makes them the world’s most expensive diamond.
Are blood diamonds more expensive?
Some may assume that a conflict-free diamond comes with an extra cost, but this isn’t necessarily the case. … These diamonds are generally more expensive than those that are mined in Africa, but this is one way to completely ensure that you are receiving a conflict-free diamond.
Which stone is most expensive?
Top 15 Most Expensive Gemstones In The World
- Blue Diamond – $3.93 million per carat. …
- Jadeite – $3 million per carat. …
- Pink Diamond – $1.19 million per carat. …
- Red Diamond – $1,000,000 per carat. …
- Emerald – $305,000 per carat. …
- Taaffeite – $35,000 per carat. …
- Grandidierite – $20,000 per carat. …
- Serendibite – $18,000 per carat.
Why is diamond expensive than water?
Total Utility. Subjective value can show diamonds are more expensive than water because people subjectively value them more highly. … As demand increases as well, consumers must choose between one additional diamond versus one additional unit of water. This principle is known as marginal utility.
Who owns the world’s diamonds?
De Beers S.A., South African company that is the world’s largest producer and distributor of diamonds. Through its many subsidiaries and brands, De Beers participates in most facets of the diamond industry, including mining, trading, and retail.
Why is gold so expensive?
Gold is a metal. And like any metal, it is extracted from the ground and then purified. Gold is expensive because of the high cost of production associated with it. Also, gold is extremely popular, which makes its price rise more.
Is movie Blood Diamond a true story?
The diamond industry is abuzz over the new film Blood Diamond, a fictional account of rebel militias in Sierra Leone fueling a bloody civil war through the sale of the precious gems. … He promises to help a poor black fisherman find his kidnapped son in exchange for help locating the gemstone.
Are diamonds bad?
Due to poor planning and weak regulation, diamond mining has caused environmental devastation, severely damaging the land and water. This irresponsible mining has caused soil erosion and deforestation, and has forced local communities to relocate.
What is the biggest diamond in the world?
At present, the largest diamond ever recorded is the 3,106-carat Cullinan Diamond, found in South Africa in 1905. The Cullinan was subsequently cut into smaller stones, some of which form part of British royal family’s crown jewels.
Where is Blue Diamond found?
Blue diamonds are found only in a few mines in the world: the Cullinan mine in South Africa, the Argyle Mine in Australia, and the Goloconda mine in India. The carat weight and intensity of blue color dictate how much a blue diamond is worth.
What is the rarest gem?
Painite : Not just the rarest gemstone, but also the rarest mineral on earth, Painite holds the Guinness World Record for it. After its discovery in the year 1951, there existed only 2 specimens of Painite for the next many decades.
Is Jade more expensive than diamonds?
Thanks partially to Chinese demand, rare imperial green jade, a translucent stone that’s been compared to fine emerald, is the most expensive gem in the world, worth more per gram than diamonds.