Diamond MythsPosted by admin darum / May 19, 2016 / No responses
Diamonds Are Forever
This was both an advertising campaign and the tittle of a James Bond adventure. A diamond can retain its brilliant appearance for many centuries under reasonable conditions. It can also be shattered with a hammer!
Diamonds are the hardest substance known.
Close. Diamonds are the hardest natural occurring substance discovered. A slightly harder substance has been made from compressed Carbon fullerene (about 11% harder), though this is also made from carbon as diamonds are.
There are many Diamonds Discovered but never Sold
Many diamonds are seriously flawed and only useable for industrial purposes; they are used in cutting tools. Good quality diamonds are fairly rare, and the process to recover them is costly.
Diamonds are involved in Political Conspiracies.
There certainly have been diamonds used to fund unethical governments in foreign countries, and diamonds minds that violated human right’s laws. The Kimberly process was introduced in 2003. This certifies that diamonds have been obtained in an ethical manner. Though some illegal diamond practices still exist the diamonds in the general market are far removed from this.
Diamonds have always been a symbol of love, engagement and marriage
The general public did not start to buy diamonds for weddings till the 1930s. The aristocracy and wealthy have been using diamonds for wedding and engagement rings for many centuries. As famous Kings and Queens feature prominently in history this probably set up an accociation in the mind of the general public. Perhaps it is progress that the average couple can now possess a very impressive diamond ring of their own.
Colour, Cut, Clarity and Carat
These say a lot about a larger diamonds, but smaller diamonds (while still gradable by these four ‘C’s) might best be valued by size and sparkle. Additionally, cut is not a numerical value. A good cut will reflect light and make a stone sparkle, but it is hard to put a price on this.
Diamonds are Good Financial Investments
Diamonds are reasonably stable, but unlikely to increase in value. Real estate tends to increase, vehicles tend to decrease; a diamond is sold slightly cheaper when second hand. A wholesale diamond will keep it value. Unlike most things it will never suffer from decay or age.