Ready for a stunning surprise? Put a gemstone under a high-powered microscope, and you’ll see a world of breathtaking beauty.

Once destined for industrial use, low-quality rough diamonds were thought to have too many impurities or inclusions to be used in high-end rings, bracelets, and necklaces.  But today, these diamonds are making their way into luxury jewelry. So why the sudden interest?

Composed of a single element—carbon –and formed under extreme temperature and pressure, diamond’ remains one of the world’s most coveted gems – and the birthstone for those lucky enough to be born in April.

Russia hosted the 2014 Winter Olympic Games in Sochi, but did you know that it’s the country that wins the gold medal for diamond production?”

Alrosa mined 34.4 million carats of diamonds last year, well ahead of De Beers’ total of 27.9 million, which most people equate the world’s leader in diamond production. In fact, Alrosa has relegated De Beers to “silver medal” status for the past three years.

As a diamond consumer, you’ve probably heard the term “diamond treatment” or “treated diamond,” or perhaps “enhanced diamond” and wondered what that meant. A relatively small percentage of gem-quality diamonds are treated and they are treated for two reasons: to improve clarity or to alter color.

Going once. Going twice. Going three times. Sold for $83.2 million.

That was the winning bid for the 59.6 carat Fancy Vivid Pink Dream in November 2013 – the most ever paid for a diamond. The amount was comparable to prices paid for paintings by some of the masters.