When - in history - did diamonds become "expensive"?

[beaujolais]

When - in history - did diamonds become "expensive"?

With everything costing so much lately, a question came to mind. Were diamonds always expensive? In our grandmother''s day did they cost a comparatively large amount, as they do now?

Thanks.

 

[Garry H (Cut Nut)]

Diamonds are cheaper now than they ever were.

one and 2 millenium ago only kings and high priests were allowed the privelege of owning / wearing diamonds. If a commoner was caught with a diamond - off with his head!

You pay more for a tiny bit of dead cow turned into womens shoes and handbags

 

[denverappraiser]

The nice folks at DeBeers have been suggesting for quite some time that you should be spending 2 months salary on a diamond. This has been their rule for at least 50 years or so so, depending on your age and your grandmother’s age, this would probably have been the advice when she got her first diamond. Within the last decade that seems to have been increased to 3 months. I’m certainly not endorsing this advice as particularly reasonable but it’s a way of comparing with an inflation adjusted unit what people spend on diamonds (or at least what DeBeers wishes they would spend). A more complicated question is in comparing the merchandise itself. Although diamonds do hold up pretty well over time, the stones from a century ago aren''t really identical to the ones being cut today both because of different mines that have come and gone and different cutting techniques and tools that have been used in different eras.

By the way, speaking as a grandfather, your “grandmother’s day” may have been as recent as yesterday.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[purrfectpear]

I have some mine cuts from the 1800''s and I''m pretty sure they weren''t being worn by Little House on the Prarie gals. Weren''t diamonds always a luxury class stone?

 

[Maisie]

I''m sure John Pollard said that diamonds weren''t worn in the middle ages.... weren''t coloured gemstones the choice of the rich then? When I look at the paintings of the royals from that time they are always wearing colours.

So when were diamonds introduced as precious gems?

 

[denverappraiser]

Date: 10/16/2008 9:19:57 AM
Author: Maisie
I''m sure John Pollard said that diamonds weren''t worn in the middle ages.... weren''t coloured gemstones the choice of the rich then? When I look at the paintings of the royals from that time they are always wearing colours.


So when were diamonds introduced as precious gems?

To a certain extent diamonds have been valued as gemstones from time immemorial butdDiamonds being sold as a product for the masses roughly matches the history of DeBeers Consolidated Mines, which was founded in 1888. They ‘invented’ the idea that each and every bride was entitled to a diamond ring. This was one of the most successful marketing campaigns of any product in history and it made for some very successful folks. It wasn’t done overnight but by WWII, this idea had become well established in America, the primary target market, and in Europe within a decade or two afterwards. Japan became the hot market in the 80’s and China is just starting to adopt the idea now.

Before DeBeers convinced us all that they were the perfect symbol of love, jewels in general, and diamonds in particular were definitely an upper class sort of thing that the vast majority of people in places like Colorado, Dumfries or Yokohama has no use for.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[oldminer]

I used to have some of my grandfather''s diamond importation records where he was paying $3 to $5 per carat for cut diamonds in Europe and bringing them to the US in the first and second decade of the 1900''s. Inflation has taken its toll on the value of the dollar and all other currencies, too, but even then, $5 per carat was not inexpensive. During the Depression, in the early 1930''s, my mother told me that she was a reporter for a newspaper in upper NY State and was paid the sum of $11 per week. She was making more money than the several members of her family living under the same roof back then and everyone thought she had a wonderful job.

 

[Lady_Disdain]

Date: 10/16/2008 9:05:29 AM
Author: purrfectpear
I have some mine cuts from the 1800''s and I''m pretty sure they weren''t being worn by Little House on the Prarie gals. Weren''t diamonds always a luxury class stone?

Nope - Laura Ingalls Wilder received a garnet with two pearls set in yellow gold. No idea about what kind of garnet or carat weight.

 

[jewelerman]

It also has to do with consistant suppy that can create a consistant demand...many people had only heard of but never seen a diamond when the main supple came from India or Brazil...the african mines and the awakening middle classes helped create and then supple the demand for jewelry with diamonds.People wanted to own the type of jewelry they saw the famous and royals wear in pictures,books, and newspapers around the world.