Beads, Jewelry Tools, Wire and Jewelry Making Supplies by WigJig®

HOME     BEGINNERS INSTRUCTIONS     WIGJIG UNIVERSITY     WHAT'S NEW     WIGJIG STORE
TECHNIQUES      JEWELRY DESIGNS     JEWELRY MAKING SKILLS     JEWELRY MAKING SUPPLIES     GIFT IDEAS
PURCHASE BEADS   BLING   BOOKS   CHAIN   FINDINGS   MISC.   SUPPLIES   THREAD   TOOLS   WATCHES   WIRE

Is a diamond really forever?

Diamond Jewelry Making Gemstone and Birthstone for April

Starting in 1937 the De Beers company kicked off what has become one of the most successful advertising campaigns in history.  Using the slogan “A diamond is forever”, De Beers was able over time to convince a large portion of the western world that a diamond was the only viable option for an engagement ring.  They were also able to create an extensive market for diamond jewelry and to control the prices for diamonds.  At that time, a diamond was the hardest known material and could only be found in a limited number of mines.  In 2007, advanced in technology have changed the gemstone marketplace.  At this time, a diamond is the third hardest material as there are now two man-made materials that are harder than a diamond.  In addition, diamonds can now be made in a laboratory.  The question that needs to be asked is what will a diamond be worth in 25 years or 50 years? 

At present, it is correct to say that the price of mined diamonds is not consistent with what the law of supply and demand would dictate.  The De Beers Company produces about 50% of the mined diamonds available in the world and they restrict the access to gemstone quality diamonds so that the pricing for diamonds remains higher than it would normally.  This artificial pricing for diamonds tends to inflate the prices for man-made diamonds as well because there are very few manufacturers currently making gem quality diamonds.  For the next 5-10 years, this situation probably won’t change significantly.   

Diamond Earrings Jewelry Making ProjectCurrently, man-made diamonds remain relatively rare, but diamond simulants, gemstones that appear like a diamond, are becoming quite common and inexpensive.  Cubic Zirconia (CZ) is a very rare naturally occurring material that can be man made in a laboratory inexpensively.  CZs look so much like a diamond that in general, only a highly trained jeweler can tell the difference.  The easy test to identify a CZ versus a diamond is – look into the stone with a microscope and if there are inclusions (imperfections in the stone) then it is probably a diamond.  If the inside of the stone is free of imperfections then it is probably a CZ.   

What will happen beyond 10 years when man-made diamonds are readily available?  One of the interesting properties of a diamond is that it conducts heat better than copper.  Will it come to pass that 50 years from now you are cooking your dinner in a diamond frying pan?  Will the value of mined diamonds decrease as man-made diamonds become more available?  In the late 19th century, when they were finishing the Washington Monument, they placed a metal mall cap on top of the monument of the rarest metal at the time – aluminum.  Since then aluminum has become easy to refine and is now inexpensive.  Will the same thing happen to a diamond?  To think that what happeded to aluminum won't happen to a diamond just isn't sound thinking.   

Ruby Gemstone Ring Jewelry Making Project Armed with this knowledge, how would an intelligent person respond?  Would it be smart to invest in a comodity that will depreciate in value over the next 25 to 50 years?  Wouldn't it be smarter to consider lower priced alternatives to a diamond (cubic zirconia jewelry) that look so much like a diamond that most jeweler’s can’t tell the difference?  How about man-made sapphires or rubies?  We believe that it is only safe to conclued that over time the value of mined diamonds, rubies, saphhires, aquamarines, emeralds and amethyst will decrease significantly as excellent quality man-made gemstones becomes more available.  Does it make sense to spend more for an inferior product just because it came out of the ground?  Over the long term, it just doesn't make sense. 

Please select any picture to view that item in our Internet store.

Opinion written by Gary Helwig

  Birthstones

Return to Jewelry Making Tools, Beads, Wire and Jewelry Supplies by WigJig Home
See our selection of Beads, Wire Jewelry Making Supplies and Jewelry Tools

IMPORTANT PRINTING INSTRUCTIONS
This article is copyrighted by WigJig
Last updated 4/05/2007

This WigJig web page is provided as part of WigJig University - College of Jewelry Making Techniques.  We try to provide interesting jewelry making techniques using beads, jewelry wire and other jewelry supplies.  We hope that the jewelry making skills taught on these web pages will provide you enough information for you to incorporate these techniques in your own jewelry making projects.  For beginners, we suggest that you start with a visit to our Beginners Jewelry Making pages. These pages discuss the skills necessary for making jewelry in the detail that beginners need. We also suggest that beginners to jewelry making might need to visit the WigJig University College of Jewelry Making Designs for jewelry making projects using the skills and techniques shown here. 

 Most, but not all of the jewelry supplies shown here can be purchased in our WigJig store.  We try to have a complete selection of jewelry supplies in our store including chain, wire, glass beads, findings, watches, tools, etc. 

The jewelry making projects shown here do not use Sterling Silver.  The reason for this is simple, it is harder to get good pictures of Sterling Silver wire components than with colored wire including gold-filled, copper, or brass wire.  Any project shown in colored wire can be made in Sterling Silver wire.