Diamonds are a girl‘s best friends Marilyn Monroe sang. Diamonds are beautiful and there is no question that they suit every lady. Diamonds go a long way from when they are found in the earth till they end up as an engagement ring.
These precious jewels are nothing more than crystallized carbon. They are formed when titanic-force pressure and heat causes carbon to crystallize 1.9 km below Earth‘s surface between 600 million and 3 billion years ago.
People desire diamonds because they think that they are rare, but that is a big misunderstanding. It is surprising that diamonds are not so rare as many would like to think. The stones are mined, cut and marked way up and sold with huge profit. Illegal sale of blood diamonds has produced billions of dollars that go directly to cost civil wars and conflicts.
The Kimberley Process is a project that over 70 countries participate in. The project’s goal is to try to reduce mining and sales of blood-diamonds. The project requires that governments in these countries ensure that all diamonds are exported in secure containers. Every shipment must have a special number and a government-validated certificate that ensures that these diamonds are conflict-free.
Most diamonds never get to the market because they are too flawed. The diamonds are judged based on 4 things. First thing is their cut. When a diamond is cut, facets are created and the diamonds final shape is determined. The most popular cuts are round and princess cut. Almost 75% of all diamonds sold have that shape. The second thing is their clarity. It is a measurement of the diamonds flaws. Perfect diamonds have the clarity level Flawless. Carat is the weight of a diamond; 1 carat is about 200 milligrams. The colour of diamonds is measured on a scale that runs from D to Z. The most expensive ones are Icy White and the least expensive are the light yellow. Diamonds are not only white; they can contain other elements that can affect their colour. Naturally coloured diamonds are very rare and are there for very expensive.
The reason why consumers pay so much for these beautiful gems is because the market is controlled almost entirely by De Beers. They produce half of all the diamonds on the market and they control almost 70% of the world market. To keep the prices up, De Beers has bought extremely many diamonds from other countries to prevent too many diamonds entering the market and by that lowering the prices.