Why are diamonds expensive?
Contrary to popular belief it is not the rarity of diamonds that makes them expensive - indeed they are no rarer than some other stones that are valued lower. Diamonds are considered to be the most beautiful stone that exists, and throughout the ages they have been recognised as the stone that symbolises wealth, class, love and sophistication.
Diamonds are notoriously difficult to cut and polish due to their extremely high hardness on the Moh's Scale of Mineral Hardness, which drives the price up. Another factor that inflates the global price of diamond artificially is the fact that their supply is strictly controlled, and only a certain number of diamonds are permitted to be sold each year.