When you start your engagement ring search, you might be surprised at the price of diamonds and wonder how a little stone can cost hundreds or even thousands of dollars. Here's a little background information that helps to explain:

• A one-carat diamond is extremely rare. In fact, 250 tons of ore are mined just to produce a one-carat, gem quality diamond.
  
  
• A diamond cutter will apprentice for many years, and will train to specialize in one cut of diamond, such as a round or an emerald.
  
  
• It can take a single diamond cutter several hours and up to six months to cut and polish a diamond.
  
  
• A rough diamond looks like a glass pebble. The skill of a diamond cutter unleashes the brilliance.
  
  
• The price of a diamond increases when the carat size is larger (and therefore more rare) and the diamond is close to colorless. Factor in the “flawless” clarity with the cut and the cost goes way up.
  
  
• The color of the diamond is an important factor in determining value. The most rare diamonds are nearly colorless, or a D color.
  

• Diamonds are in limited supply. Of all the diamonds mined each year, less than half are gem quality. These are the diamonds used for jewelry. The remaining diamonds fall into near-gem quality or industrial quality. The industrial quality diamonds are used for dentist’s drills or earthmoving equipment, as examples.
  
  
• No two diamonds are alike. Just like our fingerprints. That makes each diamond extraordinary.