How Rare Are Diamonds, Really?

We're going to let the cat out of the bag here and tell you something no jeweler is ever suppose to say. Diamonds aren’t really that rare! Millions of diamonds are pulled out of the earth’s crust each year! However, the vast majority of these diamonds (70%) are used for industrial purposes. Industrial diamonds are hard enough to be used as abrasives and cutting tools in manufacturing, but lack the quality and beauty to be used in jewelry.

What is more rare are gem quality diamonds. Only 30% of all diamonds mined are deemed gem quality.  And rarity really starts going up with size. For instance, we have a 3.02 carat round diamond in our store that’s GIA graded as perfect cut, symmetry and polish. Of all the gem quality diamonds mined, it takes 15 million diamonds to find one that’s of 3 carats in size. One in 15 million! Ok, maybe we should take back what we said. Most diamonds aren’t really that rare, but some diamonds are one in a million (or more)!