Diamond's brilliance and luster are two of its most valued attributes. The science behind such phenomena is diamond's great ability to refract light; that is, to bend or slow light as it passes through it. The amount that a substance can impact light in these ways is quantified in its refractive index.

Diamond is the hardest known natural material (third-hardest known material below aggregated diamond nanorods and ultrahard fullerite), and is the more costly of the two best known forms (or allotropes) of carbon, whose hardness and high dispersion of light make it useful for industrial applications and jewellery. (The other equally well known allotrope is graphite.) Diamonds are specifically renowned as a material with superlative physical qualities — they make excellent abrasives because they can be scratched only by other diamonds, Borazon, ultrahard fullerite, or aggregated diamond nanorods, which also means they hold a polish extremely well and retain luster. About 130 million carats (26,000 kg) are mined annually, with a total value of nearly USD $9 billion. About 100 tons are synthesized annually.
 

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