If you’ve been keeping up with diamond news, then chances are you’ve heard about this huge diamond deposit revealed in Russia. And if you know anything about basic economics and supply and demand, then chances are that you’re worried about the value of the diamonds in your collection dropping. Of course, if you also know a little something about gems, then you know that you don’t have to worry about that.
See, while the Popigai diamond discovery yielded massive amounts of gems, the gems were formed from a meteorite impact, hence their name: impactite. Impactite are notable for their novelty value and their weird history and are certainly a prize for geologists, but jewelers and geologists are interested in two different things. Impactite is simply not jewelry grade diamond. These gems aren’t strictly valueless, they hold a lot of interest from a scientific perspective, but they’re not going to be making it into the jewelry market anytime soon.
The irony in all of this is that this mine with its trillions of karats in impactite diamonsd was not discovered recently, but way back in the 1970′s. The Russians who discovered it decided to keep it a secret in an attempt to control the diamond market. Even if they had exposed the entire thing right then and there, it wouldn’t have made a difference on the value of your average diamond by a single cent.
If you know a geologist or a natural historian who would appreciate a weird souvenir of ancient Russian history, then by all means, get them a watch studded with impactite, it won’t cost you much. Just don’t expect your wife to be equally enthused when you hand her a ring made from the stuff.
Gilbert S for Raymond Lee Jewelers, South Florida’s premiere source for buying and selling luxury watches and designer jewelry.
