THE BUYING AND USES OF DIAMONDS
value
of gems duly entered at the custom-house of the United States rose from
an annual average of 100,000 dollars to about one million. Most of the
stones imported belong to the class of stones weighing less than half
a carat. When pure and without blemish they sell here at the rate of
fifty to sixty dollars per carat. Diamonds and all precious stones cost
more in the United States, relatively speaking, than those sold in
Europe.
In
New York in 1866 a pure diamond weighing one carat was worth from
ninety-five to one hundred and twenty-five dollars according to its
brilliancy and the merit of the cutting.
Bright
blue, green, or rose-colored diamonds, if perfect otherwise, are worth
as much as white diamonds, but green ones are rare in this country.
Over one carat, the price advances as the square of the weight.
The
value of diamonds cannot be determined by absolute standards. Weight,
cut, brilliancy, color, history, and perfection of the stones are
factors that must be considered in estimating their value. It is,
moreover, subject to fluctuation. Colorless diamonds bring higher
prices than off-colored stones, but if decided tints of red, blue, or
green are present they may increase the value abnormally.
Had
you bought a fine one-carat stone in 1929 (the peak year for prices),
you would have paid 750 dollars for it— and thereafter its value fell
off to 500 dollars (depression low) in 1930. Yet during the year 1934
that same stone would have been worth 650 dollars. In other words,
diamonds suffered a decline of not more than thirty-three and
119
