2. Cost of Mining: The costs associated with mining for diamonds are very high. Everything from expensive equipment and labor, to extraction and relocation, add to the price.
3. Industry Structure: The diamond market is monopolistic and highly regulated, which keeps prices high for consumers. The industry is dominated by a few well-established players who control most of the market.
4. Branding: Diamonds have been branded as a luxury item, which has created a mystique around them and inflate their cost.
5. Market Manipulation: The prices of diamonds have been controlled and manipulated by manufacturers sellers, as they keep information about pricing and production