Diamonds are showcase pieces. Celebratory stones. Through the years, diamonds have long held prominence as a status symbol, a sparkling outward reminder to the world of an individual’s wealth and prestige.

But diamond values have fluctuated greatly over the years. From the booming economic excess of the 1980s when DeBeers dominated the market and proclaimed “a diamond is forever” to the dismantling of the DeBeers monopoly and the economic downturn of the Great Recession, diamond values and prices are a reflection of numerous market variants.

Like most valuable items, diamond prices increase with inflation. A diamond that was purchased in 1970 would, of course, be worth considerably more in 2016. However, whether that is due to the rarity of the diamond or the result of inflation is murky and dependent on a even more factors. For example, diamonds spiked in value from 1980-1981 going from $18,000 per carat to $61,000 per carat for a D color, internally flawless stone.

If a diamond is not professionally certified by the Gemological Institute of America (GIA), get it certified. Considered the most accurate and respected gemological laboratory in the world, a certificate issued by the GIA is considered unquestionable in the diamond market and will grade the diamond and list all imperfections of the stone. This certificate may be given to an appraiser to value the stone. Likewise, use the appraised value as the basis for judging gains against future market values.

The long and short of investment diamonds is that diamonds are subject to the fluctuations of supply and demand, so the more rare a diamond is, the more likely it will appreciate in value over time. Preserving and protecting a diamond ensures it retains and gains value. Buying an investment diamond is indeed a stroke of Brilliance.

What’s in your jewelry box?