It’s very common for diamond and jewelry vendors to work with customers that have misconceptions about diamonds. Typically, these misconceptions aren’t harmful. However, in many cases, customers cost themselves a lot of time, money, and effort trying to find the best diamond to buy based on these myths. Want to save yourself a headache and hassle? Here are the five most common diamond myths debunked.
Myth 1: Diamonds are Rare
“Surprise!” Diamonds aren’t rare. Somehow, the myth that diamonds are rare has persisted, despite the fact that millions of people can purchase new diamonds every year. In fact, according to the De Beers 2019 Diamond Report, the diamond market faced some challenges due to the diamond supply exceeding the demand.
Jewelry grade diamonds aren’t as common as the majority of diamonds, which are typically used for industrial purposes. However, the supposed rarity of diamonds drives up the prices of diamonds. These prices mean high profits for diamond miners but can mean a major expense for diamond buyers. In short, don’t buy into the myth that diamonds are rare and you need to spend tens of thousands of dollars on one. Obviously diamonds are still a beautiful gemstone that takes extremely talented craftsmen to cut and polish until they are appropriate for jewelry. However, De Beers has gone out of their way for years to control the supply and demand of diamonds to drive up the price tag.
Myth 2: You Can’t Buy Diamonds Online
As online shopping becomes increasingly commonplace, you’ll find that more and more luxury commodities are being bought online. Diamonds are among those commodities.
However, it’s still important to know as much as you can about the company from which you’re buying. Put time and effort into researching a brand, well before making a purchase. You’ll want to consider whether the company includes a diamond grade report, insures shipments, has positive reviews, and more before you decide to give them your business.
It’s completely possible, and increasingly common, to buy diamonds online. Do your due diligence and you’ll be rewarded.
Myth 3: Lab-grown Diamonds Aren't "Real" Diamonds
Lab-grown diamonds are, as the name suggests, diamonds that are created using advanced technology and equipment. By mimicking the natural processes needed to form diamonds in the ground, scientists can create diamonds that are physically, visually, and chemically identical to mined diamonds.
The only way to differentiate between mined diamonds and lab-grown diamonds is to utilize advanced machinery, even expert lapidaries can’t tell the difference. Though this information should be enough to convince even the biggest skeptic, the myth that lab-grown diamonds aren’t “real” has stayed relevant.
Perhaps, it’s the fact that though mined diamonds and lab-grown diamonds are identical, lab-grown diamonds cost a fraction of the price of mined diamonds.
Myth 4: Blood Diamonds are Gone
Blood diamonds still exist. The mining of these blood diamonds has contributed to war efforts in developing countries. Not to mention, the ethical implications of some of the mining practices associated with blood diamonds put miners in unsafe conditions without fair pay. Today, it’s easy to purchase a blood diamond without having any knowledge of its history.
Many companies have benefited from the PR efforts of the diamond industry giants. Blood diamond mining was brought into greater public prominence following the release of the eponymous film in 2006. The diamond mining industry has since recovered from the backlash but hasn’t fully eliminated the practice.
Bear in mind, though a company might publicly label their diamonds as “ethical,” there’s no guarantee that their diamonds aren’t blood diamonds. In fact, the only way to be 100% certain that a diamond was ethically sourced is to buy a lab-grown diamond.
Myth 5: Spend Three Months’ Salary on an Engagement Ring
Keep myths out of your financing. There’s no good reason that you must spend a full three months’ salary on an engagement ring. Once you forget about this outdated rule, you can focus on finding a great deal on an engagement ring that your soon-to-be-spouse will love, regardless of the price tag.
Purchasing diamond alternatives such as lab-grown diamonds, buying loose diamonds, and comparison shopping can all help you save money. You can use this money on more important things… like planning the wedding and honeymoon that you and your partner will remember for a lifetime.
Final Thoughts
Don’t let diamond myths impact your buying decisions. Be sure to do your due diligence and seek out a diamond that works for you and your budget! Good luck!