Rings ....
Why a Diamond is the Best Bargain on Earth
by Shane Decker
RARITY: Only one diamond in 1 million can be polished out to a carat or larger.
MINING COST: Diamond is the world’s most sought after material, with the least return on labour. About 250 tons of earth must be removed to get one carat’s worth of diamond. Even then, only 20% of all diamonds mined in the world are good quality.
ENDURANCE: The beauty of a diamond is unaffected by its age. There is no upkeep, and diamond jewellery is always in style. “What would you pay for a car if you never had to spend a cent for upkeep and maintenance, and still had something of value to pass down to your family after 60 years?”
CUT: Sixty percent of a diamond’s value is in the cut when yield and related factors are taken into account. Diamond cutters’ train for years before they are allowed to touch a carat-sized diamond. “That’s more time than a doctor has to spend learning surgical skills”
ANTIQUITY: The oldest diamonds are 3 billion to 4 billion years old. The “newest” are hundreds of millions of years old.
LASTING VALUE: The investment market was a false market. Diamonds do double in value every 10 years, but it’s really an investment in someone you love. Shane Decker’s mother died when she was very young, but he cherishes her diamond ring. “Through it I can still touch and remember her” he says
Shane Decker is president of Shane Decker Diamond Co.
