The Truth About Diamonds
Why are diamonds so expensive? Why are they considered so valuable? We take a hard look at the myths surrounding diamonds and get to the bottom of what makes them so expensive.
The Prestwick Place was founded by two lovers, frustrated with the diamond industry. We set out to find an alternative option in a market where none had previously existed. This path led us to the Moissanite, which in fact has a higher refractive index (sparkle) than the diamond and costs 1/3 of the price. Hours, weeks and months of personal education lead us here, so let us summarise our findings and give you a look at just how important it is to understand the truth about diamonds and why we are so passionate about our Moissanites..
By limiting the supply of diamonds that make it from mine to market each year, this monopoly ensured that there were not enough stones to go around for everyone who was planning on saying “I do.”
In an industry with so little information given in the lead up to a proposal, it really helps to shed some light on the jewellery industry.
MYTH #1: Diamonds are expensive because they’re so rare?
Diamonds are not particularly rare. In comparison to other gemstones, diamonds are the most common precious stone found.
Generally, the cost per carat (or weight of a gemstone) is based upon a stone’s rarity; the rarer the stone, the more expensive. Therefore, rubies, emeralds and sapphires are much rarer and, in turn, far more expensive than diamonds.
MYTH #2: The bigger the diamond, the more it costs?
While this is not entirely wrong, it’s not entirely right, either. The size or carat weight of a diamond is only one factor in calculating the value of the diamond.
Known as the “Four C’s,” carat, clarity, colour and cut, collectively inform the price of a diamond. No single characteristic outweighs another; they all contribute and influence the final retail value. For example, you can have a whopping 10-carat diamond, but, if it’s clarity is low, it does not guarantee the huge stone will be worth more than a smaller sized diamond with perfect clarity.
And so, why Moissanite?
Moissanite is a gemstone born from the stars. It was first discovered in 1893 by a French scientist named Henri Moissan, who later won the Nobel Prize in Chemistry. He initially thought that he had discovered diamonds, but later determined that the crystals were composed of silicon carbide.
Natural Moissanite is incredibly rare, so Moissanite available today is laboratory-created. After many years of trial and error, the particles Moissan discovered were successfully synthesised to produce what is now one of the world’s most scintillating gemstones.
Moissanite are very high up on Mohs scale for hardness. Moissanite have a score of 9.25 and are the second hardest stone known to man, second to the diamondwhich comes in at 10.
Moissanites are so similar in appearance to diamonds that they make excellent substitutes. In most cases, no one would even know the difference unless you told them.
One final way that Moissanite trumps natural diamonds is that they’re ethical and sustainable and have minimal impact on the environment. This isn’t to say that other stones aren’t sustainable, it’s just that diamonds have come under fire in recent decades due to unethical practices in the industry.
With the release of movies like Blood Diamond, which shows the dark underbelly of the diamond industry, many couples are moving towards more ethical options. If you’re concerned about buying a conflict diamond or the huge devastation that diamond mining has on the planet, a Moissanite might be a more suitable option for you.
Ultimately, the most important factor in your decision on Moissanite vs Diamond — even more so than cost — will be whether you’d just prefer to have a diamond or a moissanite.
Some consumers prefer diamond for tradition, prestige, or natural origin. Others prefer moissanite for sustainability or ethical reasons, or simply because they can get the aesthetic they desire for less. This is a personal choice with no wrong answers. If you’d prefer a diamond, you should buy a diamond. If you’d prefer a moissanite, buy a moissanite.
One thing is certain, we urge you to please listen to your heart and choose only the option that suits you.
The Prestwick Place Artisans