Why Diamonds Are So Expensive?

If you have shopped for expensive jewellery, you must have contemplated purchasing something with diamonds. Diamonds are synonymous with an everlasting love, commitment and glamour. A diamond engagement ring marks the beginning of married life. Diamonds are coveted for their rarity, beauty and prestige throughout history. From delicate jewellery, beautiful engagement rings to also, an industrial tool, the gemstone plays a significant role in our regular lives. But why are diamonds so expensive?

Whether it is due to the market manipulation or its association with kings and queens, let’s today find out the answer of this burning question of why a diamond can command astronomical prices.

  • Ingenious advertising of DeBeers

De Beers is one of the leading diamond companies of the world. Founded in 1888, the company has pursued many diamond mining and explorations across the globe. During the Great Depression, diamond sales fell significantly. In the 1930s, diamonds were discerned as an extravagance for rich people to wallow in.

De Beers’ motive was to captivate people from all walks of life to fall in love with diamonds. While the firm appointed the advertising agency N.W Ayer for reigniting public interest in diamonds, De Beers introduced their favourite motto in 1947, ‘A diamond is forever’.  However, this ingenious marketing strategy met with huge success and persisted to this day. Diamonds are today the must-have gems for all brides-to-be.

Besides, De Beers worked to incite public perception of diamonds and fortify a tradition of gifting diamond rings as a sign of marriage. The company implemented a program in the 1940s where the team members would pay a visit to high schools for teaching women and men about the romantic significance and value of diamond rings.

De Beers’ intuitive marketing continued until the 1980s. They introduced many advertisements, stating ‘Isn’t two months’ salary a small price to pay for something that lasts forever?’ The advertisement consequently carries on the notion that diamonds are costly and also, that they are essential for any marriage.

  • Market Demand

Diamonds were regarded to be very rare before the 1800s and were significantly found in Brazil and India. However, the massive discovery of a large crater with an aggregate of diamonds in Kimberley, South Africa made diamonds more accessible to the market.

While this discovery could reduce the price of the diamonds, their influx on the market could also influence the rarity and therefore, reduce a diamond’s value. Thus, De Beers Diamond Company bought the diamond mines in Kimberley for preventing a decline in the gemstones’ prices.

With ownership of these diamond mines, the company was able to preside over the global diamond supply rigidly. De Beers released sufficient diamonds onto the market for meeting the annual demands. However, while it created an appearance that diamonds were rarer than they indeed were, it enabled the company to increase the diamond prices.

Today, about twenty major diamond mines are running that produce more than 120 million carats of diamonds per year. However, most of the mines are now not related to De Beers.

Are you looking to sell diamonds?   

If you want to ‘sell diamonds’ or sell your jewellery quickly and potentially get paid in cash right away, simply walk into our shop at The Liberty Shopping Centre in Romford, Essex with your asset. We will assess your item immediately and make you an offer on the spot. With trustworthy pawnbrokers Essex at Golden Cash, you are likely to obtain the best possible price when selling your diamond jewellery for cash. Thus, visit our shop today!

How to Sell My Jewellery in Essex?

Sell My Jewellery in Essex

When you need some fast cash, you can always choose to ‘sell my jewellery’ to a trustworthy pawnbroker in Essex. You may have an old heirloom gold necklace that you no longer wear or have a diamond ring of a broken relationship that may not cause much concern if you part with it. Thus, selling your pre-owned jewellery to any reliable buyer in Essex or anywhere in London is ideally the best option for you to raise extra cash immediately in a hard-up situation. Now:

Whether you are wondering, ‘where can I sell my jewellery in Essex?’ or ‘How much is used jewellery worth?’ here are the steps to follow when you decide to sell jewellery for cash. Have a look!

  • Assemble all details of your jewellery item

For those who are looking to ‘sell jewellery’ or ‘sell my jewellery’, it is foremost essential that you understand what exactly you have. A diamond ring of a designer brand like Tiffany, Cartier or Chopard may worth more than the one of a non-designer brand. And, when it comes to the components of your jewellery item, many things are taken into consideration to determine its overall value.

Are there diamonds or gemstones in it? What is their carat weight? What type of metal your jewellery item is made of? However, the rule of thumb is that higher the gemstone and metal carat weight, more valuable an asset will be.

While an antique or vintage jewellery item may fetch you a higher price, any sign of wear and tear like scratches or blemishes in the jewellery can cause a significant cutback in its overall resale value.

Moreover, the documents like the original box, papers, authenticity cards or gemological lab certificate help a potential buyer to assess the characteristics of a jewellery item and ensure its authenticity. Thus, professional jewellery buyers like at Golden Cash in Essex may prefer to buy jewellery with original documents and box in good condition.

However, it does not mean that you cannot sell your jewellery without them. You can ‘sell engagement ring’, sell a diamond ring or ‘sell jewellery’ of any type, to Golden Cash pawnbrokers in Essex and also, expect to obtain the best possible value if your asset is in good condition.

  • Choose a trustworthy pawnbroker

Whether you are looking to sell a vintage diamond ring or ‘sell engagement ring’ of a designer collection, choose a professional dealer who is honest, convenient and comfortable to work with. And, when it comes to obtaining cash for gold or selling second hand diamond jewellery, a high street pawnbroker often serves as a more flexible option.

Trustworthy pawnbrokers Essex, like Golden Cash, work with jewellery experts who have requisite knowledge and experience to accurately appraise and assess the value of any used jewellery item sold for cash.

Although many significant factors are taken into consideration like condition, metal and age to determine the actual value, the final price that the leading Essex pawnbrokers are willing to offer is also based on the inherent value of your jewellery item.

Jewellery experts at Golden Cash are always accessible to carry out a professional valuation. Thus, you can sell your jewellery to us with full confidence.

  • Directly Walk-in, Get an Offer and Get Paid

Sell your jewellery to the most trustworthy jewellery buyers in Essex and get paid right away without any obligation. Here at Golden Cash, we always work to make the process of selling pre-owned jewellery items straightforward and convenient.

Walk into our shop at The Liberty Shopping Centre in Romford, Essex any time during opening hours with the jewellery item you are interested in selling to us. Our experts will analyse every aspect of your asset including its gemstone(s) and metal and then, come up with an accurate valuation. We will make an offer on the spot. Accept it and get paid in cash right away.