For centuries, diamonds have held great value for people across all regions. But why is this so? Many believe that diamonds are rare which is why they’re so highly valued. But the truth is that diamonds are not rare at all, especially the white ones. There might be a few exceptions such as pink and yellow diamonds but other than that, there are way too many diamond mines across the world for there to be a shortage in the supply. So why are they priced so highly?
Diamonds hold no intrinsic value
We’ve established that essentially, diamonds hold no intrinsic value. Consider your spending and investing behaviour as well. Would you invest in a diamond or gold? We’re sure you went with gold as you see no obvious reasons for investing in diamonds. Mostly because there aren’t any!
Therefore, investing in diamond jewellery is also something that doesn’t come naturally to you. They too, do not hold any real intrinsic value. The only reason that diamonds are mostly bought is to exude a sense of success and wealth. But is a detrimental process of extracting diamonds really worth it? We don’t think so.
Diamond jewellery is made using diamonds that are mined by people working in the most difficult environments. From harming human life, mining diamonds also poses a threat to the overall environment. So, when you think about it, is diamond jewellery even worth the money you spend?
The demand of the market
Another factor that adds to the overall pricing of diamond jewellery is the demand for it. People all over the world buy diamond rings for their engagements and to wear to various events. You’ll look at celebrities and other iconic personalities loaded with diamonds to showcase their extravagant lifestyle.
The increase in demand leads to an increase in prices. Since the demand for diamonds is extremely high, the prices follow through as economics teaches us. But we come back to the same point, is diamond jewellery worth investing in when we know the drawbacks of the diamond mining industry?
What is the alternative for over-priced diamond jewellery?
When it comes to an alternative to over-price diamond jewellery, the best option that you have is opting for jewellery that is made using lab-grown stones. This proves to be better for the environment and the society as these lab-grown stones don’t put the earth at a threat.
While diamond jewellery requires the earth’s layers to be dug up and many other implications, lab-grown stones prove to harmless when it comes to the environment. Not only do they prove to be a fashion statement but opting for jewellery made using lab-grown stones is more sustainable as well.
More often than not, you will find jewellery made from that lab-grown stones are almost identical to diamond jewellery. So why would you want to pay such a high price for something that looks and feels exactly like another inexpensive option? At Vasuca Jewellery, we are experts in designing intricate jewellery made using recyclable metal and lab-grown stones. We aim to provide you with high-quality jewellery at a fraction of the price you would pay for diamond jewellery.