What Makes Diamonds Valuable?
Diamonds are coveted all over the world. They are one of the most sought-after stones in many different cultures and are often found in engagement rings, necklaces and other items of jewellery. One of the largest, most valuable and most famous diamonds is the Koh-i-Noor Diamond, sifted from the sand in India and thought to be revered by the Hindu god Krishna. It was passed down through the Indian court aristocracy before eventually being looted and set in the British Crown Jewels in the mid-1800s. Aside from diamonds like the Koh-i-Noor that have prestige from religious or cultural importance, there are a number of factors that impact any given diamond’s value, including the level of demand in the diamond industry, ethical sourcing, and the quality of the diamond itself.
Demand & Diamond Industry
Today, the idea of engagement rings and diamonds go hand in hand, but this wasn’t always the case. De Beers is one of the biggest names in the diamond industry, owning some of the largest diamond mines around the world and having a big influence on the industry as a whole. During the great depression in the late 1920s and early 30s, sales of diamonds were down. De Beers controlled the market completely and so their profits plummeted. They designed an advertising campaign that brought back buoyancy to the diamond market and the slogan ‘a diamond is forever’ was coined. With this advertising campaign, De Beers created the discourse that solidified the relationship between diamonds and engagement rings – strengthening the market and making a lasting cultural impact.Physical Properties
Diamonds have a range of physical properties which give them value. They are one of the hardest materials known to man, and can cut glass, marble and granite. They are thermal conductors, resistant to pressure and act as electrical insulators. This means that diamonds have a lot of uses outside of jewellery manufacturing, including in medicine, high end audio equipment, and heavy-use industrial machinery and tools.