DIAMOND

INTRODUCTION

Diamond is the hardest known natural material (third-hardest known material after aggregated diamond nanorods and ultrahard fullerite), and is the more costly of the two best known forms (or allotropes) of carbon, whose hardness and high dispersion of light make it useful for industrial applications and jewellery. (The other equally well known allotrope is graphite). Diamonds are specifically renowned as a material with superlative physical qualities — they make excellent abrasives because they can be scratched only by other diamonds, Borazon, ultrahard fullerite, or aggregated diamond nanorods, which also means they hold a polish extremely well and retain luster. About 130 million carats (26,000 kg) are mined annually, with a total value of nearly USD $9 billion. About 100 tons are synthesized annually.

The name “diamond” derives from the ancient Greek adamas (αδάμας; “invincible”). They have been treasured as gemstones since their use as religious icons in India at least 2,500 years ago— and usage in drill bits and engraving tools also dates to early human history. Popularity of diamonds has risen since the 19th century because of increased supply, improved cutting and polishing techniques, growth in the world economy, and innovative and successful advertising campaigns. They are commonly judged by the “four Cs”: carat, clarity, color, and cut.

Roughly 49% of diamonds originate from central and southern Africa, although significant sources of the mineral have been discovered in Canada, India, Russia, Brazil, and Australia. They are mined from kimberlite and lamproite volcanic pipes, which brought to the surface the diamond crystals from deep in the Earth where the high pressure and temperature enables the formation of the crystals. The mining and distribution of natural diamonds are subjects of frequent controversy such as with concerns over the sale of conflict diamonds by African paramilitary groups. There are also allegations that the De Beers Group misuses its dominance in the industry to control supply and manipulate price via monopolistic practices, although in recent years the company's market share has dropped to below 60%.

A diamond is a transparent crystal of tetrahedrally bonded carbon atoms. Diamonds have been adapted for many uses because of the material's exceptional physical characteristics. Most notable are its extreme hardness of diamond, its high dispersion index, and high thermal conductivity.

Hardness

The atomic connectivity of the carbon atoms gives the gem its hardness
Diamond is the hardest natural material known, scoring 10 on the relative Mohs scale of mineral hardness[2] and having an absolute hardness value of between 90, 167, and 231 gigapascals in various tests. Diamond's hardness has been known since antiquity, and is the source of its name. However, aggregated diamond nanorods, an allotrope of carbon first synthesized in 2005, are now believed to be even harder than diamond.

The hardest diamonds in the world are from the New England area in New South Wales, Australia. These diamonds are generally small, perfect to semiperfect octahedra, and are used to polish other diamonds. Their hardness is considered to be a product of the crystal growth form, which is single stage growth crystal. Most other diamonds show more evidence of multiple growth stages, which produce inclusions, flaws, and defect planes in the crystal lattice all of which affect their hardness.

The hardness of diamonds contributes to its suitability as a gemstone. Because it can only be scratched by other diamonds, it maintains its polish extremely well, keeping its luster over long periods of time. Unlike many other gems, it is well-suited to daily wear because of its resistance to scratching—perhaps contributing to its popularity as the preferred gem in an engagement ring or wedding ring, which are often worn every day.

Industrial use of diamonds has historically been associated with their hardness; this property makes diamond the ideal material for cutting and grinding tools. As the hardest known naturally occurring material, diamond can be used to polish, cut, or wear away any material, including other diamonds. Common industrial adaptations of this ability include diamond-tipped drill bits and saws, or use of diamond powder as an abrasive. Industrial-grade diamonds are either unsuitable for use as gems or synthetically produced, which lowers their value and makes their use economically feasible. Industrial applications, especially as drill bits and engraving tools, also date to ancient times

Carat

The carat weight measures the mass of a diamond. One carat is defined as a fifth of a gram, or exactly 200 milligrams (about 0.007 ounce). The point unit—equal to one one-hundredth of a carat (0.01 carat, or 2 mg)—is commonly used for diamonds of less than one carat. All else being equal, the value of a diamond increases exponentially in relation to carat weight, since larger diamonds are both rarer and more desirable for use as gemstones. A review of comparable diamonds available for purchase in September 2005 demonstrates this effect (approximate prices for round cut, G color, VS2 diamonds with "1A" cut grade, as listed on http://www.pricescope.com):

The price per carat does not increase smoothly with increasing size. Instead, there are sharp jumps around milestone carat weights, as demand is much higher for diamonds weighing just more than a milestone than for those weighing just less. As an example, a 0.95 carat diamond may have a significantly lower price per carat than a comparable 1.05 carat diamond, because of differences in demand.

A weekly diamond price list, the Rapaport Diamond Report is published by Martin Rapaport, CEO of Rapaport Group of New York, for different diamond cuts, clarity and weights.[8] It is currently considered the de-facto retail price baseline. Jewelers often trade diamonds at negotiated discounts off the Rapaport price (e.g., "R -3%").

In the wholesale trade of gem diamonds, carat is often used in denominating lots of diamonds for sale. For example, a buyer may place an order for 100 carats of 0.5 carat, D–F, VS2-SI1, excellent cut diamonds, indicating he wishes to purchase 200 diamonds (100 carats total mass) of those approximate characteristics. Because of this, diamond prices (particularly among wholesalers and other industry professionals) are often quoted per carat, rather than per stone.

Total carat weight (t.c.w.) is a phrase used to describe the total mass of diamonds or other gemstone in a piece of jewelry, when more than one gemstone is used. Diamond solitaire earrings, for example, are usually quoted in t.c.w. when placed for sale, indicating the mass of the diamonds in both earrings and not each individual diamond. T.c.w. is also widely used for diamond necklaces, bracelets and other similar jewelry pieces.