Diamond Market Price
There is no such thing as a diamond market price in the same way there is with say, gold or silver or any of the precious metals. Diamonds are not bought and sold on an open market but only between diamond producers such as De Beers, diamond dealers and the manufacturers who create diamond jewelery or who sell to industry.
It is not a public listing so one cannot buy diamonds to later sell on an open market.
The diamond price is dependent firstly upon the mining industry and this is largely dependent upon the Russian diamond industry, who produce around 25% of the worlds production, De Beers, the South African mining company who stock pile diamonds and control their price thereby as well as having affiliations with the Russian diamond industry and lastly the quality of the diamonds issued.
A diamond market price is really that diamond price which is set by the industry as that diamond price which the market will bear.
In other words, if the price of diamonds is too expensive, purchases will fall, so the price would then be adjusted down until the sales improved.
The perceived value of diamonds is held high due to the intensive marketing some years ago by De Beers and their outlets. Such phases as, “A diamond is a girls best friend” and the introduction of diamonds as part of an engagement ring have all contributed to increasing how valuable a diamond is.
Diamonds are not as expensive as people imagine. The economics of mining for diamonds, although costly are not much more expensive than mining for many other minerals or gemstones.
One still has to go through tones of ore to get a few grams of diamonds but the same applies to other gemstones and minerals.
Most of the price of diamonds is artificially created.
Nevertheless good quality diamonds are very beautiful and even if one cannot make money from a diamond market price, one can always appreciate the beauty and splendour of a good quality diamond.