Diamonds Mined
What's so special about diamonds - small rocks - that makes them so pricy? Are they really that rare?
In reality, diamonds aren't as rare as many think. There is a piece of land in South Africa, for example, that's estimated to hold three to four times more diamonds than all of the diamonds on rings today. That land is mined, but it isn't the diamonds that are mined. The land is mined with land mines, fenced with razor wires and patrolled by armed guards to keep it from being mined.
Why? Because that land, as well as over 50% of the world's supply of diamonds are controlled by De Beers, the South African company that has long monopolized the world's diamonds and that wants to keep prices and profits inflated by limiting the supply of diamonds mined around the world.
When buying diamonds, there is no point in paying for color ratings below "J" and clarity ratings below "SI2." Why? Lower ratings cost much more but the difference can only be seen in the diamonds under the 10x magnification of a jeweler's gemscope.
Unless you or your friends have bionic vision, it's absurd to pay more, let alone many times more, for something that can't even be seen. Some women will compare their diamonds' imperceptible designations, and jewelers will tell you that a diamond should reflect the purity of your love, but ignore their nonsense.
If you're planning on spending $10000 on a VSI2 G diamond, for example, spend $5000 on a same-sized, SI2 J diamond that will also look totally colorless and free from birthmarks. If planning on spending $20000 on a VVSI1 D, you can save $15000 for the same-sized diamond that looks just as clear and colorless.