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Diamonds are Bullshit (2013)

blog.priceonomics.com

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Re: Diamonds are Bullshit (2013)

#31

Post by michaelbuckbee »

alexggordon wrote: post #20

I've always wondered if there's a space for some serious disruption in this industry. One of the things I've always seen, having gone to lots of auctions as a kid, is that you can buy diamond rings for a fraction of the price on the auction block. Even if you just rip the diamond out, and set it in a new ring, you'd be saving money, not to mention the metals you have left over from the ring. If there were a company w…

I've always thought the same thing. Something that continues to fascinate me is that there are people selling/reselling jewelry on Craigslist [1]

Which makes sense for the network effects, but seems far from perfect as there's no appraisal, setting choices, etc.

http://norfolk.craigslist.org/search/jwa

Re: Diamonds are Bullshit (2013)

#32

Post by hueving »

dangayle wrote: post #18

I tried to explain all that to my gf, but she was having none of it. It was either a diamond or hit the road, Jack. Proposed to her last Saturday with a shiny diamond ring, she's now my fiance, so I think it was worth it.

Sounds like you got a raw deal. You just proposed to someone who literally would dump you over not getting a shiny rock. Coercion like that is a major red flag.

Re: Diamonds are Bullshit (2013)

#33

Post by nosuchthing »

Loque wrote: post #15
kriro wrote: post #7

He proposes that diamonds are an essential part in the mating ritual and then goes on to say they are not an investment? As silly as it is if the dumb ring helps you convince your future wife she should be your future wife I'm going to go ahead and say that it is actually a wise investment. I don't see peacocks wandering around saying "feathers are bullshit" Subjective theory of value...etc.

And/or that you need to demonstrate your feelings for someone else through an object that has inflated worth...

Healthy relationships have a multitude of ways to communicate feelings and connectivity. If a shiney finger stone seems to be required to prove something, that should be some self reflection on the relationship.

Re: Diamonds are Bullshit (2013)

#34

Post by [deleted] »

dangayle wrote: post #18

I tried to explain all that to my gf, but she was having none of it. It was either a diamond or hit the road, Jack. Proposed to her last Saturday with a shiny diamond ring, she's now my fiance, so I think it was worth it.

[deleted]

Re: Diamonds are Bullshit (2013)

#36

Post by [deleted] »

superuser2 wrote: post #16
rayiner wrote: post #3

The punchline is the second to last paragraph: > Today, De Beers hold on the industry supply chain is less strong. And yet, price continue to rise as new deposits haven’t been found recently and demand for diamonds is increasing in India and China. For now, it’s less necessary that the company monopolize the supply chain because its lie that a diamond is a proxy for a man’s worth in life has infected the rest of the…

Top-end BMW is more fun. Better-sounding speakers, more comfortable seats, snappier response (not unlike SSD vs HDD seek time), etc. You might not get above 60 in the city but if you want to have fun you can take it out to the country and hope you don't get a ticket

[deleted]

Re: Diamonds are Bullshit (2013)

#37

Post by bduerst »

samjordan2 wrote: post #8
rayiner wrote: post #3

The punchline is the second to last paragraph: > Today, De Beers hold on the industry supply chain is less strong. And yet, price continue to rise as new deposits haven’t been found recently and demand for diamonds is increasing in India and China. For now, it’s less necessary that the company monopolize the supply chain because its lie that a diamond is a proxy for a man’s worth in life has infected the rest of the…

There are very real and noticeable differences between a $30k and $90k BMW other than top speed. There are NOT noticeable differences between a $30k diamond and a $3k moissanite stone. A better analogy would be $100 "professional HDMI cable" and a $10 standard HDMI cable.

Not really. There isn't a cultural significance to owning a $100 Monster cable (other than signalling you are probably not tech savvy).

Re: Diamonds are Bullshit (2013)

#38

Post by DanBC »

nosuchthing wrote: post #33
Loque wrote: post #15

Earlier quoted context omitted.

And/or that you need to demonstrate your feelings for someone else through an object that has inflated worth...

Healthy relationships have a multitude of ways to communicate feelings and connectivity. If a shiney finger stone seems to be required to prove something, that should be some self reflection on the relationship.

If you feel the meed to deny your partner something that brings them joy, even though you think it's bullshit -- that should make you think twice about the relationship.

The desire to control your partner that is displayed by many people in these diamond threads is a really unpleasant character flaw.

Re: Diamonds are Bullshit (2013)

#39

Post by aalvarado »

kriro wrote: post #7

He proposes that diamonds are an essential part in the mating ritual and then goes on to say they are not an investment? As silly as it is if the dumb ring helps you convince your future wife she should be your future wife I'm going to go ahead and say that it is actually a wise investment. I don't see peacocks wandering around saying "feathers are bullshit" Subjective theory of value...etc.

I think he's trying to say that, "Don't feel bad about not buying a diamond, the only possible value is to convince the other person to marry you in the presumption that you can afford such bullshit and your partner is a bit shallow and might not care about how the household finance works nor willing to participate, otherwise your partner would advise you to better spend it on what matters. Beer"
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