Yes indeed. A diamond is a rare precious stone which is why it carries such a high price tag. However before the stone is turned into some piece of pricey jewelry,quite a bit of work is done to it.
A quality-one carat diamond is quite rare to find, in fact only one in a million mined diamonds can be of this quality. In order to find a quality-two carat diamond, five million diamonds have to be mined. That's about two hundred tons of ore crushed just to find one small diamond.
In fact most of the diamonds mined (80%) are used industrially to make diamond drill bits. Only a small percentage of those diamonds can be used to make jewelry. Therefore those small diamonds you see in the jewelers shop should be viewed with new appreciation for they are truly worth their value.
