When you think of a diamond you think expensive, because of the popularity around the world it has, and also the beauty and sparkle the diamond radiates.
Here Is Why White Diamonds Are Not Rare:
- Diamonds are more common than emeralds
- White Diamonds are in plentiful supply
- Diamond carrots are less in price than other gems
- Diamonds are more common than gold
- Diamonds are more common than sapphires
Through this article we are going to discuss all the reasons why white diamonds are not rare, comparing it in detail compared to other gemstones and gold. Thanks for reading.
What Makes A Diamond Rare Or Not Rare?
Diamonds are incredibly beautiful and popular gemstones, and this is partly due to the fact that the majority of diamonds are not rare.
Different cuts and colours are rarer than others, but diamonds are the most commonly found precious gem, especially when compared with others, like sapphires and emeralds.
Diamonds with a reddish or pinkish tint are rarer than white and colourless diamonds, but you’re always more likely to find a diamond than almost any other stone.
Lots of people seek out diamonds for jewellery, especially engagement rings. A perfectly cut diamond is rarer and worth a lot more money than a different, more common cut, and the larger a diamond is, the higher its price.
You can find pricier diamonds, but their expense usually makes them rarer to the majority of customers, especially when so many cheaper, smaller diamonds are readily available to buy from any jeweller.
Diamonds have achieved a roaring level of success in the gemstone industry, especially because they are considered to be representations of love and romance.
A diamond will be rarer if it is a particular colour, cut, or weight, but even then, when compared with the performance of other gemstones on the market, diamonds are not rare and their success is all but guaranteed when they are available to buy.
A lot of the reasons for diamonds being common come back to the fact that the diamond industry is massive and is showing no signs of slowing down, especially since consumer demand matches the rate at which diamonds are mined, formed, and marketed.
5 Reasons Why Diamonds Are Not Rare
Diamonds Are More Common Than Emeralds
Emeralds are around 20 times rarer than diamonds, so it’s a lot more difficult to get your hands on one, especially with competitive prices.
Emeralds are used in lots of different pieces of jewellery and in some ornamental pieces too because people recognise their value and their beauty. In fact, out of all the ‘commonly thought of’ precious stones out there, including diamonds, sapphires, rubies, and pearls, emeralds are the rarest.
When compared with emeralds, diamonds are considered not to be rare for the simple reason that they account for so much of the precious gem industry and often dominant jewellers and other manufacturers.
Diamonds are also more practical for use in some pieces because emeralds are ‘soft’ stones, so can be scratched or otherwise damaged more easily. However, this makes them more precious, especially because they are rarer to find.
Both loose emeralds and emeralds that are fixed into ornamental or jewellery pieces can be incredibly pricy, which understandably puts a lot of people off buying them. Being more common, diamonds can be sold for less money, which increases the demand for them and puts more pressure on the gemstone market to have diamonds readily available.
Emeralds are very attractive and are by no means not being sought after, but they are rarer, which can unfortunately work against a gemstone when it is competing in a market with a ginormous industry like the diamond industry.
White Diamonds Are In Plentiful Supply
Diamonds themselves make up approximately half of the precious gem industry, and white diamonds make up a chunk of that.
There is no shortage of supply because demand has always been and still is high for diamonds, especially diamonds that are slightly tinged with colour like white diamonds are. Lower carat diamonds are also in plentiful supply because they are more affordable and will attract lots of customers to high-street jewellers and businesses.
The more common a gem is in comparison to other precious gems, the easier it is to obtain at affordable prices. The prices of diamonds are sometimes inflated because they are so sought after, but you are always more likely to find that rarer stones like emeralds cost more money and aren’t as easily accessible.
More often than not, if a gemstone is not considered to be rare it is because it’s one of those that can be bought easily in a number of different stores and establishments, which is the case with diamonds.
Production is always equal to three things: supply, demand, and usage. It is a common fact that diamonds are in plentiful supply, are sought after by so many people, and can be used as materials in a variety of different instances, so they are continually produced and pumped out into the market.
The gemstone market may seem as though it is saturated with diamonds, but their popularity is very unlikely to fade for the simple reason that they are so easy to get your hands on, especially nowadays when a lot of jewellery and other precious products can be purchased online.
Diamond Carat Prices Are Less Than Other Gems
Because diamonds are so much easier to come across than other gems, the market is full of them and prices are lower. To give a comparison, a diamond and emerald of the same carat weights could have completely different prices because emeralds are much rarer to come across.
Typically, the more common that a gemstone is, the lower its price will be, due to the ease with which consumers can purchase them.
That isn’t to say that all diamonds have low carat prices because certain cuts and colors are rarer than others, which can drive the price of a diamond up, but their prices are comparatively lower than those of other precious gems.
Prices for anything reflect the demand and though there is a massive demand for diamonds in the gemstone industry, there is an even higher demand for gems that aren’t sourced as commonly.
Diamonds make up approximately 50% of the precious gem industry, so it makes sense that a competitively high demand exists for other less prominent gems.
A lot of the connotations attached to diamond carat prices come back to that fact of availability. You can visit any jeweller in your country and it is very unlikely that they will not stock diamonds, so prices reflect the ease with which diamonds can be found.
Don’t expect to be able to purchase a high-carat diamond ring, for example, for a low amount of money because diamonds are still an expensive gem to buy, but you’re more likely to find a diamond of a certain amount of carats costing less than another precious gem with the same amount of carats.
Diamonds Are More Common Than Gold
Gold and diamonds are both incredibly popular and pricy materials, but diamonds are more common than gold, especially since gold is so rare in its elemental form.
Pieces of jewellery that contain both diamonds and gold can be worth a huge sum of money, with the gold really pushing the price up, especially if it is high-carat gold.
Diamonds are easy to use when making different products, especially jewellery because they can be expertly inserted into the piece, so they may be more common to find because they are simpler to work with.
Gold is a very abundant metal, but mining it with the intention of making a huge sway in the market would require a significant increase, especially when more and more diamonds are pumped into the market every day.
There is an allure to the creation of a diamond that is not quite there with gold, especially since people are a lot more likely to buy gold or silver pieces that also contain diamonds.
In order for gold to become more common than diamonds, it would need to be mined more and the gold deposits within the Earth would need to increase to match the accelerated mining process.
Essentially, though diamond formation is sometimes unsuccessful, there is a surety that the diamond market will not slow down. Gold is a very heavy material, much heavier than the same amount of diamond, so it is rarer to come across and be able to afford.
Diamonds, though sometimes very expensive, can be easily located and accessed, especially when the mining process is so successful and profitable in the industry.
Diamonds Are More Common Than Sapphires
Sapphires are other precious gems that look stunning in pieces of jewellery and as part of ornaments. Diamonds are much easier to come across because excellent quality sapphires are very rare and their prices are hiked up to match that.
Like diamonds, sapphires vary in rarity and price depending on their colour and size, but even the blue sapphire, which is the most common of all sapphires, is rarer to come across than a diamond.
The fact that diamonds do make up half of the precious gem industry alone means that they are far less likely to be considered rare than the other gemstones that have to compete within the other 50% of the industry.
Jewellers, collectors and customers alike seek out sapphires because of their rarity, as well as for the facts that they are beautiful to look at and cost a lot of money.
Costing a lot of money is often key when it comes to selling gemstones because plenty of people are more likely to be drawn towards a lower-cost diamond than a more expensive sapphire, even if the sapphire has the allure of being the rarer stone.
