Diamond earrings are an essential accessory in most people’s wardrobes. They are simple, elegant and compliment pretty much any outfit you want to wear. The beauty lies in the fact that you have so many options. Diamond stud earrings, pendants and chandelier earrings are some noteworthy ones. You also have design choices that feature different cuts, shapes and sizes.
Industry reports show that the diamond industry managed to survive the Covid pandemic. Indeed if anything, the sales are much stronger, thanks to digital support and tightening in global supply. In the US alone, retail sales managed an 8.5% growth from 2020.
Buying diamond accessories is not as simple as walking into a jewelry shop and picking up any piece you want. You should consider a couple of factors when investing in diamond earrings. Proper research is critical to know whether you are buying an authentic product.
Further, you must ensure that you buy from a reputable seller to avoid losing money to scammers. Remember, you will be investing a significant amount of money, thus the need for proper due diligence.
Our article looks at the cost of diamond earrings. We will also attempt to answer the question of whether they are a worthwhile investment.
Factors That Impact the Price of Diamond Earrings
So how much do diamond earrings cost? Are they worth the investment? The reality is that there is no blanket cost for diamonds. So, to answer these questions, we need to understand the various factors influencing the price of diamonds.
1. Diamond Source
There are two primary sources of diamonds:
- Mined diamonds come from the earth’s crust. Carbon compression under high-pressure results in the formation of the stones. Miners have to dig through rocks to get to the diamonds.
As you can imagine, searching for the stones is arduous, expensive, and time-consuming. The chances of finding diamonds is more of luck than a sure occurrence. That adds to the rarity of the rocks. This could explain why diamonds are so expensive.
- Manufactured or lab-grown diamonds come from lab settings. The production process mimics the natural diamond producing process of carbon compression and pressurization. The fact that they are lab-produced does not mean that your lab grown diamond earrings are of less value. You get the same cut, clarity, carat and color as mined diamonds. Yet, you could end up paying upwards of 30% less.
Four factors (4Cs) determine the quality of a diamond as per the GIA grading. They are:
- Color: The absence of color indicates a high-quality diamond. This does not apply to colored diamonds, though. Some diamond colors are more difficult to find than others, making them more expensive.
- Cut: This refers to the brilliance, fire or sparkle of the diamond. Please note this has nothing to do with the shape that refers to the final look. You can choose diamond earrings with a cushion, round, princess, marquis or emerald shape, to name a few.
- Carat: This is the metric weight of the diamond measuring 200 milligrams per carat.
- Clarity: Small imperfections or blemishes determine the clarity of a diamond. High-quality stones will have little to no blemishes.
3. Diamond Cut and Shape
The round brilliant is very popular but is also the most expensive. This is because it results in the most wastage of the stones.
4. Diamond Earrings Seller
Shopping for your diamond earrings is no different from shopping for any other luxury product. The bigger the brand name, the more you can expect to spend. But, it doesn’t mean that smaller brands will not have excellent options.
We reiterate our earlier point. Please take time to research whoever you buy your diamond accessories from. Like any other market, some are out to make a quick buck deceiving people.
5. Customization Options
Many diamond earring designers will offer bespoke or customization options to customers. You go into the shop, sit with a designer and create a piece that reflects everything you want.
The price of the final earring will depend on what you finally decide on, including:-
- The choice of metal for the diamond earrings can impact the price. For instance, you can expect to pay a bit more if you choose platinum. Silver, on the other hand, is at the lower end of the scale. But, you will have to keep up with the maintenance to avoid tarnishing.
- The diamond setting can increase the complexity of the final design. A simple diamond stud earring with one stone is not as complicated as creating a halo effect.
- Diamond quality, as we discussed above and more.
Are Diamond Earrings a Good Investment?
If we are to hazard a simple answer to whether diamonds are a good investment, the answer would be yes. The reasons for this bold statement are numerous, including:
- Safety for your money due to price stability. As we stated in the opening, this is one industry that managed to stay strong during the Covid pandemic. Yet, this was a time when other companies were struggling to survive.
- Diamonds allow for wealth concentration in one place. Those diamond earrings, pendants and wedding sets in your safe are investments. Their small size means you can move with them from place to place without needing tons of storage.
- Diamonds offer continuous use of your investment. This is unlike stocks or shares, which means you are rich on paper but not much else. With the diamond earring, you get functionality out of them until you decide to sell them.
The trick to investing in diamonds is to go for quality stones. Pay attention to the 4Cs and for the diamond earring the design aspects as well. A high-worth metal, for instance, increases the value of the investment. Also, ensure you get certificates from the diamond seller to show the stones’ authenticity.
Diamonds are timeless and durable. You can pass them down through the generations, and they never lose value. Indeed you can be sure of a good return on investment if you ever decide to sell.
Before, diamonds were a preserve of the rich due to their price. But now, we have lab-grown diamonds that come at a lower price, making the stones more accessible. That means you can still own a fabulous pair of diamond earrings without draining your bank account.