Diamonds Suck (2006) • Hacker News Board

Re: Diamonds Suck (2006)

#11

Post by charlesdm » Wed, May 30, 2018, 10:58 AM UTC

maaaats wrote: post #5

What is the difference between a diamond and an expensive handbag or other accessory? If a thing is worth what people pay, how come diamonds are a scam and other items not? I have a hard time grasping this everytime an anti-diamond article pops up. I can see the logic in not using that kind of money on a ring, but not what's so special about the price/scarcity/fashion of diamonds compared to other luxury goods.

Just another guy pointing out WHY they're a ripoff. Most luxury goods are "ripoffs" (from a financial point of view). Yet plenty of people love buying luxury items for the feeling it gives them and the experience, and because the item (in comparison to a non luxury item) is still much better.

Nothing wrong with that in my view. Personally I don't share they view they're a ripoff, but to each their own.

Have you ever bought a mechanical watch? I have, and I loved the experience -- from researching and exploring it, to visiting a few jewellers, to getting a good deal, to finally getting the item. I look forward to the day when I can buy my (to be) wife amazing pieces of jewellery, regardless of the price.

Re: Diamonds Suck (2006)

#12

Post by pfortuny » Wed, May 30, 2018, 10:58 AM UTC

maaaats wrote: post #5

What is the difference between a diamond and an expensive handbag or other accessory? If a thing is worth what people pay, how come diamonds are a scam and other items not? I have a hard time grasping this everytime an anti-diamond article pops up. I can see the logic in not using that kind of money on a ring, but not what's so special about the price/scarcity/fashion of diamonds compared to other luxury goods.

No: it is not a scam. It is a monopoly, which is different.

They are a luxury good because the inly seller makes them so, without a real motive (they are not scarce).

Louis Vuitton bags are scarce by manufacture but this is not artificial.

Re: Diamonds Suck (2006)

#13

Post by nizmow » Wed, May 30, 2018, 10:59 AM UTC

maaaats wrote: post #5

What is the difference between a diamond and an expensive handbag or other accessory? If a thing is worth what people pay, how come diamonds are a scam and other items not? I have a hard time grasping this everytime an anti-diamond article pops up. I can see the logic in not using that kind of money on a ring, but not what's so special about the price/scarcity/fashion of diamonds compared to other luxury goods.

I'm not sure you read the article. It's not about the wearing of diamonds in itself, but more the shady business practices of diamond companies and the awful conditions of diamond mines.

Re: Diamonds Suck (2006)

#14

Post by tzaman » Wed, May 30, 2018, 11:01 AM UTC

Out of curiosity, what's all the fuss with engagement rings in the first place? When me and my wife got engaged, I gave her nothing (nor did she expect anything), just asked her to marry me and she agreed, we kissed and that was it.

We did, however, made wedding rings, which together were about $1300, but that's because they were made out of gold.

Why overcomplicate things? :)

Re: Diamonds Suck (2006)

#15

Post by tzaman » Wed, May 30, 2018, 11:02 AM UTC

mehwoot wrote: post #7

If you think that solely the physical properties of the stone are what matters then you dont understand the point of an engagement ring.

So what is the point of one?

Re: Diamonds Suck (2006)

#16

Post by [deleted] » Wed, May 30, 2018, 11:04 AM UTC

tzaman wrote: post #15

mehwoot wrote: post #7

If you think that solely the physical properties of the stone are what matters then you dont understand the point of an engagement ring.

So what is the point of one?

[deleted]

Re: Diamonds Suck (2006)

#17

Post by LordHeini » Wed, May 30, 2018, 11:05 AM UTC

As a sidenote, the rings with diamonds thing is mostly an American fad.

All people i know in Germany have just plain gold rings.

It is way nicer because it is more a symbol of commitment than a show of wealth.

Those never get out of style, can hardly be damaged and if need be can be replaced cheaply.

Re: Diamonds Suck (2006)

#18

Post by darkcha0s » Wed, May 30, 2018, 11:05 AM UTC

charlesdm wrote: post #6

isostatic wrote: post #4

> If I can prevent a single reader from needlessly dropping $6,000-10,000+ on a diamond engagement ring, this site will be a success. Financial worries are the #1 cause of stress in a married relationship - there is absolutely NO excuse to start your married life by taking on that level of debt. Average U.S. wedding cost $30k in 2014, while the average engagement ring was $5600, or 19% of the cost [0] https://www.val…

Not everything is about money though. Want to have an extravagant wedding? Fine. Want something basic? Also fine. Yes: diamonds, jewellery, mechanical watches etc are all bad value for money. People don't buy them because they're bad value. They buy them because they like wearing them, and women buy jewellery because it makes them feel pretty. That's life. It's fine throwing money away sometime.

>mechanical watches [...] are all bad value for money

Citation needed. Seriously, mechanical watches can be a great investment if you know what you are buying.

Re: Diamonds Suck (2006)

#19

Post by mysterydip » Wed, May 30, 2018, 11:06 AM UTC

tzaman wrote: post #14

Out of curiosity, what's all the fuss with engagement rings in the first place? When me and my wife got engaged, I gave her nothing (nor did she expect anything), just asked her to marry me and she agreed, we kissed and that was it. We did, however, made wedding rings, which together were about $1300, but that's because they were made out of gold. Why overcomplicate things? :)

I assume peer pressure of some sort. When my now wife was telling all her friends she was engaged, the first thing they all asked was "let me see the ring!"

Re: Diamonds Suck (2006)

#20

Post by scandox » Wed, May 30, 2018, 11:07 AM UTC

People who buy engagements rings are simply spending lots of money as an expression of love and providing visible proof of that to other people. I don't think that's a great idea but everybody's different. So the value of diamonds is somewhat irrelevant.