Field Trip: Diamond Myths

Value (2015) | $153,000 Auction$204,000 Auction
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HOST: Taking a ride through the dark passages of the Beckley Exhibition Coal Mines, I'm getting a glimpse at the industry that's been a huge part of the Mountain State's economy since the late 1800s. Now, I don't think that coal, which takes millions of years to form, qualifies as an antique collectible, but Roadshow appraiser Kevin Zavian has some other carbon-based materials he wants to explore: diamonds. HOST: Kevin, we're here in a coal mine, not a diamond mine, but we're talking about diamonds. Why is that?

APPRAISER:
We're gonna dispel some diamond myths. The first myth I wanna talk about was that you could put enough pressure on coal to make a diamond. Superman III, Christopher Reeve takes it and he crushes it, and out comes a diamond. That really can't happen. They are both carbon, but it's a carbon of a different structure. HOST: So what's the next myth, Kevin?

APPRAISER:
Well, the next myth would be that diamonds are very rare. Over 100 million carats of diamonds are mined a year. 70% of the diamonds mined are used for industry. They use them for things like drill bits and abrasives. The other 30% we use for jewelry. In this case here, we have a hand-made platinum ring with a 7.5 carat, emerald-cut diamond with two tapered baguette stones on it. And it's a nice color, very clean, no carbon spots in it, and a stone like this today at auction could be $150,000 to $200,000. HOST: So diamonds, per se, are not particularly rare, but good diamonds are?

APPRAISER:
Right. HOST: So, I've always thought that diamonds always have been the representation of love and commitment. That's why we give a diamond engagement ring. But that hasn't always been the case?

APPRAISER:
Right, today we even have diamond-encrusted wedding bands. As recently as the 1800s, diamonds were not a sign of love and commitment. They were a sign of status and nobility. It really didn't get rolling until the 1930s, when De Beers created a marketing plan to show diamonds as a sign of love and commitment. They came out with the ad in 1947, "A Diamond is Forever." This is a variation of a wedding band. This one has diamonds in it. A ring like this would have been made in the 1940s or early '50s. It's hand-made of platinum. It has 18 round brilliant-cut diamonds circling it. They weigh almost three carats total weight. A value for a ring like this at auction would be $3,000 to $4,000. HOST: Now we know the truth about diamonds. Thanks.

APPRAISER:
Well, thanks for having me.

Appraisal Details

Appraiser
Doyle New York
New York, NY
Appraised value (2015)
$153,000 Auction$204,000 Auction
Event
Charleston, WV (August 16, 2014)
Category
Jewelry
Form
Ring

Executive producer Marsha Bemko shares her tips for getting the most out of ANTIQUES ROADSHOW.

Value can change: The value of an item is dependent upon many things, including the condition of the object itself, trends in the market for that kind of object, and the location where the item will be sold. These are just some of the reasons why the answer to the question "What's it worth?" is so often "It depends."

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