Live data from Hacker News

The diamond world takes radical steps to stop a pricing plunge

bloomberg.com

51–60 of 619 posts

Re: The diamond world takes radical steps to stop a pricing plunge

#51
post #16

It'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.

Actually, diamonds, the industrial type, are very useful. Many industries use diamonds for cutting and drilling. As far as I know, there is no alternative, at the same price point. But they are sold at a fraction of what they sell for jewelry.

Re: The diamond world takes radical steps to stop a pricing plunge

#52
post #41

Diamonds are worthless, but reject them at your own peril. When my friend proposed to his girlfriend of 3 years, because the ring didn’t have a diamond she said no.

Sorry for your friend, but that is a discussion you have to have at least danced around a little. Like which cut and whether she really cares about it. I'd say he dodged a bullet if she dumped him outright over that. I could understand a polite "no I don't like that ring, try again", but treating that like a deal breaker, wow.

Re: The diamond world takes radical steps to stop a pricing plunge

#53
post #41

Diamonds are worthless, but reject them at your own peril. When my friend proposed to his girlfriend of 3 years, because the ring didn’t have a diamond she said no.

Sounds like your friend dodged a bullet there.

[flagged]

Re: The diamond world takes radical steps to stop a pricing plunge

#54

Earlier 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?

Yup got my wives ring from a pawnshop cheap

Using the plural of wife might be unintentionally adding context here.

Re: The diamond world takes radical steps to stop a pricing plunge

#55
post #3

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 ended up buying a ~90 year old diamond ring from an estate jewelry store. Diamonds don't exactly have a shelf life.

Re: The diamond world takes radical steps to stop a pricing plunge

#56
post #42

Earlier quoted context omitted.

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).

Gold, just gold, is an investment simply because people value it - it's a shiny noble metal that stays "pure", ergo percieved value. From a resource utility PoV it costs more to source than copper or aluminium which are nearly as conductive - so they win out for electronic and power transmision applications. There are applications where gold is the clear winner - "forever" circuits and switches that are worth the ext…

Depends what culture you’re in. Work gold jewelry gives you a lot of social cache in India so it is worn all the time. Additionally it’s used as a mode to transfer wealth across generations with jewelry giving mandated in the cultural milieu.

Re: The diamond world takes radical steps to stop a pricing plunge

#57
post #3

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 was in the market, but I came to find moissanite to be too sparkly. Still looking but thinking white sapphire is going to be the eventual purchase.

Look for antique diamonds using older cuts, they're much less sparkly than the modern "brilliant" diamond cut. Plus being antique you're just supporting the antique jewelry business, the cartel already took their cut.

Re: The diamond world takes radical steps to stop a pricing plunge

#58
post #3

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.

Guys, buying diamonds, can complain all day about what a rip off it is (it is). But if you apprise your fiancé of the alternatives / opp costs (moissanite, man made, second hand, etc) and she still wants a new diamond, just get her a new diamond. It will make her happy for years. My wife had her heart set on a pink diamond, so that’s what I got her. I made it clear though that if I got this, she is not getting a new…

I have no idea why you're being downvoted for sharing a personal story. And your opinion is as valid as anyone else's in matters of taste. De gustibus non est disputandum.

Re: The diamond world takes radical steps to stop a pricing plunge

#59
post #5
post #3

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 would like to have done this. Maybe we’ll get it reset with a proper, clean, nice man made one instead!

What? I'm confused.

Why would you burn more resources to replace an existing diamond?

Re: The diamond world takes radical steps to stop a pricing plunge

#60
post #44
post #31

Earlier quoted context omitted.

Get what?

He doesn't get that a cartel manufactured a social ritual of conspicuous consumption (and a fairy tale to go with it).

I mean it is, but you can break it trivially as an individual. There's no network effect, actually there's an anti-network effect. My partner and I were patient zero for non-diamond rings in our social sphere. I got alexandrite and she got a green sapphire. The rings are stunningly gorgeous, unique, nothing at all like you would find at at Zales or whatever and less than half the price (which is good since we needed two :P)

Our friends and family were obsessed and not six months later I got a text from a now engaged friend who wanted to know how we found them. He also opted for a green sapphire because it matched her eyes.

Non-diamond rings sell themselves, someone (and it can be you) just needs to break the seal.

Post reply on HN