Why are emeralds more expensive than diamonds?

You may have thought diamonds are the most valuable in the world of precious stones. But you're mistaken. In terms of pricing, emeralds are the more expensive ones.

Emeralds, especially high-quality ones are far rarer than diamonds

They are also extremely difficult to find since they are found in considerably fewer places, such as Colombia, Zambia, and Brazil, than diamonds, which are mined on a vast scale worldwide and account for over 50% of the gemstone market.

The colour grading criteria differ dramatically between the two.

Diamonds are valued for their lack of colour, ideally clear and bright, while emeralds are prized for their rich, deep green hues. An emerald’s value increases with the intensity and vibrancy of its green colour.

Standards for clarity also differ. Ten times magnification is used to grade diamonds, and even slightly included stones might lose value. In contrast, emeralds are evaluated by the unaided eye and nearly invariably include discernible inclusions. Since emeralds frequently have these inherent flaws, an emerald that is completely devoid of inclusions is extremely valuable and expensive.

When it comes to cut, diamonds are sculpted to maximize brilliance and sparkle, often following strict symmetry. Emeralds, however, are cut to preserve as much weight as possible while maintaining a pleasing appearance. This sometimes results in less uniform shapes but allows the gem to retain more of its natural beauty and value.

Carat weight is the one factor that is measured the same for both stones. 1 carat is standard for diamond rings for engagement for example. However, a 0.9 carat diamond costs significantly less, despite the slight difference in size.

However, because high-carat emeralds are rarer than diamonds, an emerald of the same weight and better quality will usually be more expensive.

Adding to their exclusivity, nearly all emeralds undergo treatments to enhance clarity. Stones that are untreated and still display rich colour and good clarity are exceptionally rare, which can cause their price to skyrocket. For example, the Rockefeller Emerald, a rare, untreated, 18.04-carat Colombian gem, sold for $5.5 million.

It’s also worth noting that while coloured diamonds like pinks, reds, or blues are even rarer and more expensive than emeralds, they make up a very small fraction of the market. The vast majority of diamonds sold are colourless, and in that category, emeralds often outperform them in price due to their rarity and natural beauty.

Which of these precious stones do you prefer?

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