Diamonds are one of the most popular stones in the world, but are they as rare as they are marketed as? Below are a few myths and misconceptions about diamonds that can be beneficial for beginners when utilizing our appraisal management software.
Myth 1: Diamonds are Rare
Diamonds are the hardest material known on this Earth and can resist scratches better than anything else we have mined. However, all gem-quality materials are considered rare, as they cover just a small portion of the planet, and diamonds are actually among the most common.
Myth 2: Diamonds are the Most Valuable
Though diamonds are coveted, primarily by women, all across the globe, they are not necessarily the most valuable stone out there. When comparing value between gems, you will need to evaluate them according to their size and quality. Though they are costly, diamonds are not the most valuable gems on the market. Pure red rubies, for example, are so rare that there is no available trade data for them.
Myth 3: Diamonds are Precious Stones
In the 18th century, a French jeweler began determining gems as either precious or semiprecious stones, which translates back to their value. The distinction of either precious or semiprecious has no concrete meaning. Garnets are traditionally semiprecious. However, tsavorite garnets have sold for much higher, placing them in the precious category. Diamonds, on the other hand, only have high value in their better grades and medium to larger sizes. Smaller, low-quality diamonds can be purchased for under $20, making them not quite as precious as many believe.