She's definitely referring to herself when she talks about diamonds. This song is about her being in a relationship with this guy, but he treats her badly and thusly she dump him. The guy tries toconvince her that he's changed and know's better (Now you say you know all you did not know before), but she doesn't believe him. Better yet, she's finding out that she's better off without him. She lets him go and has hope that someday, she'll find real love.
She's definitely referring to herself when she talks about diamonds. This song is about her being in a relationship with this guy, but he treats her badly and thusly she dump him. The guy tries toconvince her that he's changed and know's better (Now you say you know all you did not know before), but she doesn't believe him. Better yet, she's finding out that she's better off without him. She lets him go and has hope that someday, she'll find real love.