- What are diamonds made of?
- How old are diamonds and where do they come from?
- Where does the word 'diamond' originate from?
- What does the word 'carat' mean?
- What makes up the value of a diamond?
- What is the powerful magic and mystery of the diamond?
- Where does the custom of the engagement ring come from?
- Why are diamonds the eternal symbol of love?
- What does the diamond that you choose say about you?
- Which one is for you?
The quality and therefore the value of a diamond is evaluated using 4 criteria - carat, clarity, colour and cut.
The weight of a diamond is fixed and precise, and the bigger the stone, the greater the rarity and therefore the higher the price per carat. A one carat diamond is one in a million diamonds.
The other 3 criteria are much more subjective -
Flaws and imperfections within the diamond will reduce the value. The very best is internally flawless.
To the untrained observer most diamonds will appear to have no tint colour, but most are slightly coloured and are evaluated on a scale from pure white to colours of the rainbow. Pure white is rare but fancy colours are extremely rare. The highest price paid per carat at auction for a diamond is US$1 million for a 0.95 carat red diamond.
The cut of a diamond is the final key to setting the value. The finest and most exacting cutting and polishing will maximise the diamond's fire and lustre.
A fancy shape such as a pear shape will also increase the value. The most ever paid for a pear-shaped diamond of 42 carats is US$7.5 million.
Value is very much expressed through rarity - If you were to gather all the diamonds ever polished since the beginning of time, they would only fill one double-decker bus.