Why Do Diamonds Outrank the Competition?

The appeal of certain gemstones to certain consumers is largely a matter of tastes,

however, several factors can influence the perceived value of one gemstone over another. For

example, let’s examine the most popular gemstone – diamond – and its substitutes.

Diamonds have long been the staple of wealth in the modern world. Despite the ease

with which we obtain and trade materials thanks to modern methods of collecting, shipping,

communicating, and selling, diamonds remain at the top of the demand chart. But why?

Diamond’s substitutes are just as pretty, if not prettier than the real thing. “Synthetic

diamonds...are identical in any way to natural diamonds except in that synthetics are created

in a lab” (Jewelry Notes, n.d.). Even highly experienced industry personnel find is nearly

impossible to tell synthetics apart from the real thing (Saxena, 2015).

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If aesthetics were the

only element of appeal, even the lowly rhinestone, which is merely a piece of colored glass

laid over shined foil (Plans, 2003)

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would outshine the real thing.

The answer is human perception. One factor that makes the stones appealing is their

high cost, usually a sign that they are rare or difficult to obtain. However, one reporter states

that this idea is in error, saying “...even though diamonds are not all that rare, people believe

they are, so their price is substantially inflated” (Mitchell, 2008). Think about how many

jewelry stores are in your area and how many diamonds they have in their cases; if diamonds

were really that rare, could7all7those stores possibly have so many? The true answer is more

mental than that. Diamonds –7real7diamonds – are full of cultural expectations. One

psychological study links diamond engagement rings to cultural expectations for masculinity

and to a human fascination with rarity,

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saying that since our society has grown to accept

diamond engagement rings as the norm, failure to buy genuine diamonds would result in

feelings of inferiority for the buyer despite the fiscal wisdom and potentially increased beauty

of a fake or synthetic stone (Purington, 2012).

In conclusion, diamonds are only the top-tier gemstone they are today because we

believe them to be. They are in no way superior to created diamonds except in the perception

of being so – a perception the diamond companies exert large amounts of effort to perpetuate.

References