Diamond engagement rings have deeply carved into our culture’s tradition. If you are about to make a proposal to the love of your life but has not enough money to pay for one, don’t fret. There’s a simple solution to that actually. Visit Need Money Now on how you can get loans to buy for that highly valued diamond and make her a true princess.
But why is that so? Is it due to the reason that we like them that much or is it because we’re just told to like it? As mentioned before, the tradition for engagement ring has become apparent only in past centuries.
This makes a lot of people to question why diamonds are that expensive and what made them so valuable? On the other hand, we have investigated for the probable causes as well as the myths that are surrounding this so-called precious stone. As you read on, you are going to discover the real reason why they are quite expensive.
Myth: Diamonds are Expensive because its Rare
Fact: Diamonds aren’t rare. Truth is, if you try comparing it to other gemstones, they’re the most common type of precious stone you’ll find. In general, the cost per carat or the weight of a particular gemstone is based on its rarity. Needless to say, the rarer the stone, the more expensive the material is. Having said that, emeralds, rubies as well as sapphires are rare and far more valuable than diamonds.
Myth: Bigger Diamonds have Higher Price Tags
Fact: While this isn’t either entirely right or wrong, the carat weight or size of the diamond is the major factor that is used in computing the value of a diamond. There is actually the 4Cs that are affecting this and these are the Color, Clarity, Carat and Cut.
Collectively, they are using to determine how much the diamond should be priced.
There’s no single characteristic that outshines the other. All these four are contributing and influencing the final market value of this precious stone.
Myth: The World’s Supply of Diamond is Depleting
Fact: You will hear a lot of mining companies stating that there’s scarce supply of diamond, which is the reason for the increase of its price. While it’s true that there are short supplies of diamonds that are fancy colored such as rose pink or yellow, experts are estimating that colorful diamonds would deplete but not for another decade. White diamonds on the other hand aren’t at risk of depletion. Historically speaking, diamonds are difficult to find. However, there are increasing number of mines opening to reveal more diamond supplies.