Roughing It: The Popularity of Uncut Diamond Jewelry

Over the past few years, a surprising new phenomenon has permeated the diamond industry: the unprecedented use of uncut diamonds in exclusive, high-end jewelry. To the untrained eye, rough diamonds may resemble ordinary granite, with a coarse outer finish that doesn't in any way evoke the flash and fire of cut diamonds. Once thought to be of little value, these rough diamonds are now being integrated into posh jewelry sold at such fashion-setting institutes as Neiman Marcus, Bergdorf Goodman and DeBeers.

Like in any commercial industry, the diamond industry demands novelty and renewal, and that's the main theory behind the appeal of rough diamond jewelry. For people who want the prestige of diamonds, but also seek something more unusual, cutting edge and unpredictable, unpolished diamonds offer an ideal solution. The rough stones are both subtle and exclusive, appealing to mature luxury consumers that recoil from gaudy and garish announcements of their affluence. The stones also have an exclusive quality, as they are only appreciated by those in the know. They also complement trends that taut natural and organic products and heightened environmental awareness.

Many high-end jewelers also are enthusiastically embracing the trend, as it lets them enjoy steep profits from stones that previously weren't considered gem-worthy, while bypassing the meticulous processes of cutting and evaluating the diamonds.

The designs tend to take a few directions. The jewels often either integrate numerous multicolored stones for a subdued, colorful effect, or opt for one large stone for a bolder statement. Some use large (roughly 5 carat) stones, ornamented with a string of smaller traditionally cut diamonds to create a contrasting look that manages to radiate riches even if the rough diamond isn't recognizable as such. Others set a number of smaller raw stones like mosaics.

One quandary with rough diamond jewelry is calculating their value. Cut diamonds are evaluated according to the 4c's – color, cut, clarity and carat weight. For raw diamonds, cut is completely irrelevant, clarity is superfluous, and color can't really be measured according to industry standards. The weight poses a problem too. Usually a 5 carat raw diamond would be shaved down to about 2.5 carats in the cutting process, so it has to be measured against a separate system of weight standards.

Some predict that uncut diamond jewelry is a passing trend, and once it has passed, buyers who purchased the rough gems will be stuck with fairly worthless stones. What's more is that buyers won't be able to have the diamonds recut to salvage their value, since chiefly lower-grade diamonds are used in making the rough diamond jewelry.