Diamond production is falling as mines reach the end of their productive life. Diamonds are expensive because they cost a lot to bring to market, there's a limited supply of fine quality gems, and people around the world want to buy them. It's simply supply and demand.

Are diamonds actually worth anything?

Regardless, pre-owned diamonds sell for slightly less than their original prices. In most cases, a diamond has a resale value of 20-60% of the original price paid. For instance, if a new diamond costs $4,000, you'll likely be able to resell it for anywhere between $800-2,400, depending on a few factors.

What is so special about diamonds?

Diamonds are known for their extreme hardness, unmatched brilliance, and rich sentimental value. They are made of nearly 100% carbon atoms and are so durable that the only other mineral that can scratch a diamond's surface is another diamond.