Water is one of nature's most useful and versatile resources.
In the West it is readily available at very low cost. Whereas in the third world, clean available water commands a hefty premium to those on the verge of starvation.
Diamonds, on the other hand, are intrinsically worthless in terms of versatility and value.
Those that dig them out of the ground, in Africa, receive if they are lucky a living wage. Those that are unlucky, are forced to dig for diamonds with a gun to their head.
However, diamonds in the West command a hefty premium.
A strange paradox of value, wouldn't you agree?