1 18CT white gold 2.44CT diamond ring

Over the last 80 years or so, no other gemstone has played such a central role in popular culture as diamonds. From engagement rings to anniversary presents to saying, diamond jewellery today is among the top-selling types of jewelry in the world. How did diamonds become so popular?

It wasn’t until the mid-1930s that the gem became synonymous with love and marriage. Interestingly, the modern day association between diamonds and love started just as the United States was starting to recover from the Great Depression. Perhaps unsurprisingly, diamond sales (and jewelry with diamonds) had taken a massive hit in the late 1920s and early 1930s, as people simply couldn’t afford luxuries. Today, the diamond market is worth approximately $65 - $70 billion globally, but in 1939 wholesale sales of diamonds barely topped $20 million.

4 2CT diamond cluster ring

Today, approximately 26,000 kg of diamonds are mined annually, while approximately 100,000 kg are synthesized. Synthesized diamonds are manufactured in a laboratory using chemical processes. A combination of political and human rights issues related to mining and increasing industrial demands for diamonds has greatly driven the use of synthetic diamonds, but they are often widely considered to be of equal or near equal quality to mined, refined diamonds.

3 18ct gold diamond single stone ring

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Just last month, Sotheby's unveiled the world's 'largest, rarest and most valuable' D-Flawless round diamond. The 102.34-carat D-colour, Flawless round diamond is expected to surpass the current world-record price of $33.7 million. The diamond will not go to auction, instead it will be sold privately by Sotheby’s Diamonds, which has boutiques in London, New York and Hong Kong.

For your own diamond, head to John Pye's Luxury Jewellery Auction which is live now until 15th March, 2018. Check out more here.

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