Natural pearl and diamond cluster ring, circa 1920.

In reference to gemstones, a unit of weight, abbreviated 'ct'. 1 carat is equal to 0.2 grams. 

In reference to gold, a unit of purity or fineness of gold and gold alloy, expressed as a number out of 24 parts by weight, e.g. '24 carat' signifies pure gold, '18 carat' 18/24th gold in the alloy, et cetera.  Also abbreviated as 'ct'.

Originally derived from the carob seed, called quirat in Arabic, a seed of naturally uniform weight.

Pearls are perhaps the most ancient of gems to be revered by humankind, as they need not be cut or polished as other gemstones do.  They are symbolic of purity and wealth, as throughout history they have been prized above all other gems, a status only challeneged by the diamond, and even then only afrer the late nineteenth century when diamonds became more widely available.

A calcareous concretion of calcium carbonate and organic matter secreted by a mollusc in response to an irritation. Layers of nacre and conchiolin are secreted concentrically around a centre or core in response to an irritant. Natural pearls are formed when an object such as a grain of sand gets in between the inner layer of the shell and the mantle of the oyster. Cultured pearls are produced exactly the same way except that the irritant is introduced into the oyster by human means. The beauty of pearls comes from the nacre or irridescent outer layers. The value of pearls is based on colour, lustre, translucency, texture, shape and size. Natural pearls are nacre all the way through, this makes them more durable and more lustrous than a cultured pearl. They are also extremely rare and therefore highly prized.

Diamonds have been prized for their unique physical attributes for millennia.  Formed of crystallized carbon, they are the hardest substance on earth.  It is unsurprising then that diamonds have long been the symbol of strength, invincibility and eternal love. 

The first significant source of diamonds was India, more specifically a region known as Golconda.  These diamonds are particularly prized for their lack of impurities, resulting in colourless diamonds of supreme clarity and brilliance. Many of the world's most famous were found in the Golconda mines, including the Hope diamond and the Koh-i-noor. 

From India diamonds were carried along the Silk Routes of Central Asia, through Turkey and thence on to Europe.  It was during this time that Venice became a major diamond trading centre, with Bruges and, later, Antwerp at the northern end of the route.  India remained the primary source of diamonds until the eighteenth century, by which time the mines there had been largely depleted.  Rather fortuitously, around the same time diamonds were discovered in Brazil.  This source, however, was short-lived, and ran out in the mid-nineteenth century. 

But yet again, a new source immerged to replace it, this time one of much more significant supply.  In 1866 a child in South Africa found an unusual looking stone, which turned out to be a twenty one carat rough diamond, now known as the ‘Eureka' diamond.  Shortly thereafter, in 1869, the discovery of an 83.5 carat diamond-the ‘Star of South Africa'-confirmed the significance of the deposits.  

The now famous DeBeers Company, founded by Englishman Cecil Rhodes, controlled all of the diamond deposits in South Africa from the time of its establishment in 1888.  And so it came to pass that London became the world's rough diamond trading centre, as all stones passed through his London offices, while cutting carried on in Antwerp, and later Tel Aviv and New York.  Today South Africa remains a major source of world diamonds, joined in the twentieth century by Canada, Australia and Russia, which helped to break down the DeBeers monopoly.

Though most people think of diamonds as colourless, diamonds can form in most any colour of the rainbow, including black.