First off, you need to understand that diamond fashion rings fall under the category of fashion jewelry. Fashion jewelry might be better known by its other names which are fake jewelry, junk jewelry or costume jewelry. But just because it is called by those names does not mean that fashion jewelry is automatically worthless - the name fashion jewelry simply means your jewelry is not made of precious metals or precious stones. Instead, fashion jewelry can be manufactured from other materials like synthetic stones, plastic, glass, or base metals (which are all substances that have lesser value than precious stones or precious metals.)

But why are such jewelry (like your diamond fashion rings) called 'fashion' jewelry? They got their name because they are usually used for decorative or 'fashionable' purposes. Real jewelry made from precious metals and precious stones are not primarily made for fashion purposes even if they look great - real jewelry is usually bought as investments or potential heirlooms. That is why your diamond fashion rings may be of the rather flashy type of jewelry - these were made so you could show them off.

On occasion, diamond fashion rings and other types of fashion jewelry may be made from semi-precious stones as well. Many diamond fashion rings may use other material too, like simulated gemstones ( an example of which is simulated diamonds), high end crystals, wood, acrylic, plastic, metals like nickel, and even lead. The metal part of your diamond fashion rings can be simply gold-plated or silver-plated to produce the same effect as real gold or real silver jewelry.

Fashion jewelry such as diamond fashion rings came into popular usage during the early 20th century. Fashion jewelry also came to be called costume jewelry because these types of jewelry were employed to accessorize costumes for fashion-related reasons. Fashion jewelry was and is also used for theatrical productions, as part of the uniforms or costumes of cast members for the plays.

If fashion jewelry like diamond fashion rings is made of inexpensive materials, does this mean they are snubbed by the rich and famous in favor of real jewelry? Actually, not at all - there are quite a few personalities who used to popularize the use of fashion jewelry and not just real jewelry. For example, Kenneth Jay Lane was known to make unique fashion jewelry pieces for well-known celebrities such as Diana Vreeland, actress Elizabeth Taylor, and former First Lady Jackie Onassis. Another former First Lady, Barbara Bush, even wore a fake pearl necklace crafted by Kenneth Jay Lane when she attended the inaugural ball of her husband when he became President. The great Audrey Hepburn was another fan of Kenneth Jay Lane's fashion jewelry.

Because some fashion jewelry have been crafted to high standards by perfectionist artisans like Kenneth Jay Lane, the fake jewelry accumulates value over time (especially when demand for the same fake jewelry pieces grows among ordinary consumers.) Such fashion jewelry are thus deemed collectibles and their value comes from how much people want to own them. In the same way that a stamp is just a piece of paper to one person but a treasured artifact to another person, one person's diamond fashion rings may just be throwaway baubles to an unappreciative observer but a valuable collectible to someone with an eye for fashion jewelries and their potential.