J. Anthony here in front of the lighthouse at Lighthouse Point in downtown Neenah on beautiful Lake Winnebago this summer day to answer a question. And the question is, “Why are diamonds so expensive?” First off, diamonds are extremely rare. They’re only located in certain parts of the planet, usually in remote areas like north of the Arctic Circle or out in Siberia or off the coast of South Africa. Intensive mining operations to get those crystals.
Now, diamonds have thousands of grading variables, all the way from the industrial bort that’s used for diamond saw blades and drills and industrial purposes to the high end gem-quality that we work with. It’s often been equated to imagine a pile of earth the size of Lambeau Field, and inside that pile of earth, you’ll find one gemstone, the size large enough to cut a one carat gem-quality diamond. So we have that one gem-quality diamond, and then there’s thousands of variables, again, in the gem quality, from the low end promotional quality that really don’t have much sparkle to the really nice, extremely rare D flawless as you often hear about in grading reports.
All of it has to do with the labor and the intensity of cutting. Master diamond cutters are the ones that are entrusted with cutting these very best diamonds. And those take days and days of studying, if not months, to plan and chart where that diamond’s going to be cut, how it’s going to be cut and polished, and then the work is done. And it’s not just, “I cut it and it’s done in an hour.” He may take weeks to cut and facet that gemstone to get it just the way he wants it to bring out the brilliance and the beauty of that gemstone. These are all factors that lead to the price of diamonds.