I would like to take this moment to thank https://diamondssuck.com/ for preventing me from buying my wife a diamond, and getting her a much prettier moissanite instead. It's been on hn's front page several times.
I understand what he’s saying, but he doesn’t get it.
The diamond world takes radical steps to stop a pricing plunge
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Re: The diamond world takes radical steps to stop a pricing plunge
#32Has anyone ever tried to sell an engagement or wedding ring with diamonds? You get cents on the dollar. Even or I should say especially brand names like Tiffany. The whole thing is a scam from start to finish and I wish I could go back in time and avoid the entire thing.
> Has anyone ever tried to sell an engagement or wedding ring with diamonds? You get cents on the dollar. Does that mean you can buy one second-hand at a low price, and avoid the inflated market entirely?
Re: The diamond world takes radical steps to stop a pricing plunge
#33Has anyone ever tried to sell an engagement or wedding ring with diamonds? You get cents on the dollar. Even or I should say especially brand names like Tiffany. The whole thing is a scam from start to finish and I wish I could go back in time and avoid the entire thing.
> Has anyone ever tried to sell an engagement or wedding ring with diamonds? You get cents on the dollar. Does that mean you can buy one second-hand at a low price, and avoid the inflated market entirely?
Re: The diamond world takes radical steps to stop a pricing plunge
#34It's about time. Even more useless than gold. Hopefully it's next, though at least it's somewhat fungible and has a small industrial use.
Also you can’t make gold in a lab
We can make gold in the lab.
It’s radioactive gold but still gold.
Edit, actually i think in the 1980s Seaborg might have created stable gold out of bismuth, but just might have. The articles aren’t mentioning which isotope was created so I don’t know. Mercury to gold is radioactive isotopes, which is the one I’d known about.
Re: The diamond world takes radical steps to stop a pricing plunge
#35Earlier quoted context omitted.
> Has anyone ever tried to sell an engagement or wedding ring with diamonds? You get cents on the dollar. Does that mean you can buy one second-hand at a low price, and avoid the inflated market entirely?
Yes, we got used 1920s (or 40s, I forget which) diamond matching (engagement/wedding) rings from a local jewellery market for ~5% of the cost of the equivalent spec ring if it were new. It was in immaculate condition and my wife adores them still 15 years later.
Re: The diamond world takes radical steps to stop a pricing plunge
#36Has anyone ever tried to sell an engagement or wedding ring with diamonds? You get cents on the dollar. Even or I should say especially brand names like Tiffany. The whole thing is a scam from start to finish and I wish I could go back in time and avoid the entire thing.
Jewelry isn’t an investment, it’s conspicuous consumption. That said there’s really no reason to buy new unless it’s a custom made piece.
Re: The diamond world takes radical steps to stop a pricing plunge
#37Re: The diamond world takes radical steps to stop a pricing plunge
#38Has anyone ever tried to sell an engagement or wedding ring with diamonds? You get cents on the dollar. Even or I should say especially brand names like Tiffany. The whole thing is a scam from start to finish and I wish I could go back in time and avoid the entire thing.
> Has anyone ever tried to sell an engagement or wedding ring with diamonds? You get cents on the dollar. Does that mean you can buy one second-hand at a low price, and avoid the inflated market entirely?
Re: The diamond world takes radical steps to stop a pricing plunge
#39Has anyone ever tried to sell an engagement or wedding ring with diamonds? You get cents on the dollar. Even or I should say especially brand names like Tiffany. The whole thing is a scam from start to finish and I wish I could go back in time and avoid the entire thing.
I bought my partner's diamond and wedding ring set before we were hip to the shenanigans around diamonds. We had the ring melted down to make a pendant for our child with the diamond (which they'll receive when they're an adult) and no longer wear wedding rings (mine was a ~$20 tungsten ring from Amazon luckily). Thousands of dollars wasted in hindsight. Hot take: Diamonds are scams, don't buy them! Take a trip, buy…
Re: The diamond world takes radical steps to stop a pricing plunge
#40Earlier quoted context omitted.
Jewelry isn’t an investment, it’s conspicuous consumption. That said there’s really no reason to buy new unless it’s a custom made piece.
Gold jewelry is very easily an investment. The artisan work on them only increases the cost by 10-15% on the underlying value of the gold (at least in India).