Why Chocolate Diamonds Are So Expensive | So Expensive

– [Narrator] Rihanna wore a
$130,000 Chocolate Diamond necklace to the 2018 Grammys. And these Chocolate Diamond
earrings that J-Lo likes to borrow: just over $16,000, but it wasn’t that long ago when brown diamonds would have
never made the red carpet, selling for six times
less than they do today. So what changed? Why are Chocolate Diamonds so expensive? Diamonds get their color
by how they’re formed, whether it was a different
element that got pulled into the carbon structure. Like boron, which gives
diamonds a beautiful blue hue, or maybe it was close to a natural source of radiation, making them appear green. Whatever the reason, diamonds
come in a rainbow of bright, beautiful colors, and then
there are brown diamonds. For centuries, brown diamonds were cheap. They were typically low in quality and had lots of imperfections. So jewelers didn’t want
them, especially when they could use brighter pink,
blue, or yellow diamonds. Instead, brown diamonds were
used as tools to drill through rocks and cut glass. But in 1986, Argyle Mine opened. Today, it produces more
diamonds than any other mine in the world. Most of them being brown diamonds. And while it’s been said that
the quality of Argyle stones is not equal to their quantity, companies have still
managed to find a market. One company in particular
being Le Vian Corp. – We found these beautiful,
natural fancy color brown diamonds that were coming
out of the Argyle Mine of Australia that were
quite underappreciated. – [Narrator] That’s Eddie LeVian. He’s the CEO of Le Vian Corp. Le Vian trademarked the name
Chocolate Diamonds in 2000, giving it a monopoly on the
market for these particularly named brown diamonds. Soon after this rebranding,
Chocolate Diamonds took off. Google searches for
“Chocolate Diamond” went from virtually zero in
2007 to 400,000 in 2014. And the more popular they became, the more value they earned. – The price of Chocolate
Diamonds has risen more than three-fold in this period of time. – [Narrator] In the ’80s and ’90s, gem-quality brown diamonds were worth about $1,500 per
carat, but now many sell for up to $10,000 per carat. And the price of larger stones has risen even more, by as much 25 times. Le Vian isn’t the only
company that has tried to rebrand brown diamonds. Jewelers like Zales have
called them other names like Champagne, Cognac, and Cappuccino, but Chocolate was the name
that really took hold. Given its success, we asked
Eddie how the name came about. – The name of Chocolate
many people think, “Oh, yeah because these are brown,
so they put chocolate,” but the reality was there was
a friend of mine, Bill Furman, who used to come every day
after work and visit me, and he would always bring
me artisan chocolates, and he would always talk
about the special powers of chocolate, how it’s health benefits, how it’s an aphrodisiac, and I started to understand how chocoholics are passionate to the food chocolate. And so when we did the
branding of Chocolate Diamonds, we really intended to tie in to the passion that people have, the obsession that people
have to the food chocolate. – [Narrator] Le Vian
says just four percent of brown diamonds meet its criteria. The diamond needs to fall
within a specific shape between C-4 and C-6 on the
industry’s color scale. So more like a milk rather
than a dark chocolate. Once the right stones are ready,
it’s time to make jewelry, which ups the total cost. To get a closer look, we visited the jewelry company Suna Bros of NYC. – Many years ago, diamond
cutters began to experiment with different ways of placing
the facets on these diamonds so that they didn’t appear
overly dark, and it allowed light to penetrate and reflect back, which gave all of these
wonderful sensations. – [Narrator] But Chocolate
Diamonds may become harder to come by in the near future. There’s been talk that Argyle Mine is running out of diamonds. However, John doesn’t
think that will stand in the way of their growing popularity. – It would seem even at a point
where Argyle may no longer be mining, that the
groundwork has been laid, that the interest in a range
of colored diamonds now exists, and certainly that for brown diamonds I think will sustain and
probably only grow more.

12 thoughts on “Why Chocolate Diamonds Are So Expensive | So Expensive

  1. Chocolate diamond that is sooooo easy to make
    Just buy a diamond and buy one of those Dairy Queen chocolate milk AND BAAMMM EZZZ CHOCOLATE DIAMOND

  2. Rihanna loves diamonds

    Sang about yellow diamonds in “We Found Love”
    Made a song called “Diamonds”
    Wore chocolate diamonds to a special event

  3. Proof that celebs are dumfuks. They paid thousands of dollars on stuff that's used in drill bits and industrial cutters. Stupid. But whatever. I guess these companies rely on stupidity to profit big.

  4. oh? as soon as they increase in popularity they're all of a sudden hard to come by and they are running out of the diamonds and yet this is not a problem for them? False scarcity much??

  5. Brown diamonds are ugly AF. But call them chocolate and slap a huge price tag on them and some idiot is out there that will buy them.

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