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Diamond prices are in free fall in one key corner of the market

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Re: Diamond prices are in free fall in one key corner of the market

#51

Post by dagw »

onlyrealcuzzo wrote: post #30
brianwawok wrote: post #17

Earlier quoted context omitted.

The difference between a $200 and a $2000 bottle of wine is mostly how expensive the thing you are drinking is. Tons of industries and products work like this. Why would it surprise you that gems are any different?

> The difference between a $200 and a $2000 bottle of wine is mostly how expensive the thing you are drinking is. Yes, but the subset of people that can afford and would drink a $200 bottle of wine is hardly any bigger than the subset of people that can afford and would drink a $2000 bottle of wine. It makes perfect sense to me why people would drink the $2000 bottle of wine. Why not? They've got the money. If you ba…

but the subset of people that can afford and would drink a $200 bottle of wine is hardly any bigger than the subset of people that can afford and would drink a $2000 bottle of wine.

I don't think this is correct. Most wine nerds/enthusiasts I know (and I include myself) would consider dropping $200 on one of their 'dream bottles' in the right circumstance, especially if splitting the cost with a couple of friends. I don't know a single person who would ever drop $2000 on a bottle of wine under any circumstance.

Re: Diamond prices are in free fall in one key corner of the market

#52

Post by 0cf8612b2e1e »

webignition wrote: post #25
skywhopper wrote: post #12

Makes total sense. Lab-created diamonds have been indistinguishable (for the typical consumer) from natural ones for years. DeBeers kept jewelry retailers in line in pushing "real" diamonds, but it was just a matter of time until something happened to shake that hold lose. Given the rapid switch away from gold for wedding bands etc after the 2008 crisis led to a major price spike, it is not surprising to me that jewe…

Might lab-grown diamonds have reached a point of being indistinguishable from natural diamonds such that people pass off lab-grown diamonds as natural diamonds without anyone being able to tell?

I have read that the distinguishing feature is that natural diamonds have flaws. Entrapped dirt or what have you that is not found in the sterile environment of the synthetic ones.

Re: Diamond prices are in free fall in one key corner of the market

#53

Post by edge17 »

paxys wrote: post #50
slashdev wrote: post #8

Earlier quoted context omitted.

I pitched this to my wife a few years back. She insisted she’d rather have a smaller natural diamond. It makes no sense to me. Shiny carbon is shiny carbon to me. There’s no real logic in it. But given it’s a status symbol that derives its value from its rareness, I suppose it’s no different than a Luis Vutton or a Rolex. It’s not about the function, it’s about the fact that you can afford one. I hate that mentality,…

I personally find the decision to buy lab grown diamonds to be weirder, because if you are already thinking logically rather than emotionally and can resist the social pressure then why waste money on a diamond at all? There are plenty of gems or metals out there that are cheaper, prettier, more rare and hold their value better than diamonds (whether natural or lab grown).

Exactly, the whole point of buying at all is to adhere to a convention or tradition.

Re: Diamond prices are in free fall in one key corner of the market

#54

Post by zeitgeistcowboy »

webignition wrote: post #25
skywhopper wrote: post #12

Makes total sense. Lab-created diamonds have been indistinguishable (for the typical consumer) from natural ones for years. DeBeers kept jewelry retailers in line in pushing "real" diamonds, but it was just a matter of time until something happened to shake that hold lose. Given the rapid switch away from gold for wedding bands etc after the 2008 crisis led to a major price spike, it is not surprising to me that jewe…

Might lab-grown diamonds have reached a point of being indistinguishable from natural diamonds such that people pass off lab-grown diamonds as natural diamonds without anyone being able to tell?

If you buy a certified diamond they will come with a laser engraving that indicates it was lab grown. They can tell if it was lab grown with special equipment and/or the chain of purchase. So, I guess you'd have to believe the certification company if they say it is NOT lab grown and that's what you want.

Re: Diamond prices are in free fall in one key corner of the market

#55

Post by JKCalhoun »

pjot wrote: post #28
xnx wrote: post #19

Earlier quoted context omitted.

Welcome to the world of Veblen goods: https://en.wikipedia.org/wiki/Veblen_good

When the Apple App Store first came out there was an app called “I am rich” that cost $1000. It’s only functionality was a button that when pressed displayed the text, “I am rich!”

So funny.As I understand it, $1000 was the highest price tier Apple provided for the App Store.

There must be a lesson (or perhaps even a metaphor?) in that half a dozen or so copies sold. At least one or two of the "marks" claimed they bought it on accident. Maybe. Or maybe some people have a lot more disposable income than I do.

It still feels to me like developer performance art.

Re: Diamond prices are in free fall in one key corner of the market

#56

Post by [deleted] »

paxys wrote: post #50
slashdev wrote: post #8

Earlier quoted context omitted.

I pitched this to my wife a few years back. She insisted she’d rather have a smaller natural diamond. It makes no sense to me. Shiny carbon is shiny carbon to me. There’s no real logic in it. But given it’s a status symbol that derives its value from its rareness, I suppose it’s no different than a Luis Vutton or a Rolex. It’s not about the function, it’s about the fact that you can afford one. I hate that mentality,…

I personally find the decision to buy lab grown diamonds to be weirder, because if you are already thinking logically rather than emotionally and can resist the social pressure then why waste money on a diamond at all? There are plenty of gems or metals out there that are cheaper, prettier, more rare and hold their value better than diamonds (whether natural or lab grown).

[deleted]

Re: Diamond prices are in free fall in one key corner of the market

#57

Post by zeitgeistcowboy »

0cf8612b2e1e wrote: post #52
webignition wrote: post #25

Earlier quoted context omitted.

Might lab-grown diamonds have reached a point of being indistinguishable from natural diamonds such that people pass off lab-grown diamonds as natural diamonds without anyone being able to tell?

I have read that the distinguishing feature is that natural diamonds have flaws. Entrapped dirt or what have you that is not found in the sterile environment of the synthetic ones.

I bought a yellow lab grown diamond for my wife's wedding ring and with a jewelers loupe you can see the flaws in it. It looks like dirt.

Re: Diamond prices are in free fall in one key corner of the market

#58

Post by OJFord »

a-user-you-like wrote: post #33
throw3747874747 wrote: post #16

Earlier quoted context omitted.

If future wife requires diamond, another stone is not going to fix root problem you have. Go with someone less materialistic.

If you ask her if she'd prefer a lab diamond or one from the ground, and she says ground, you have your answer. If you force the issue and insist on getting the lab diamond, you're the douche.

Why ask? Personally I just nerded out over the specs a bit, filtered for colourless and unflawed as far as the naked eye can see (i.e. you can get better but requires a specialist with specialist equipment to tell, so who cares, she's wearing it not collecting or selling it) and then went with the largest I didn't think would look silly (or alternatively that's within budget, whichever limit's tighter).

I don't really think there's an unbiased way to ask. 'Lab-grown or natural' makes the latter sound more 'real' and better. 'Ethical or blood sweat and tears' is obviously out. 'Lab-grown and technically superior for the same money, or natural and more flawed' is about the best I can come up with, but the former is just objectively the correct answer isn't it? I don't see how anyone could understand the question and answer the latter. There just isn't a reason to prefer natural, all else being equal, for an item of personal jewellery that you're going to wear?

Re: Diamond prices are in free fall in one key corner of the market

#59

Post by edge17 »

slashdev wrote: post #8
OJFord wrote: post #5

It's crazy to prefer a natural diamond for anything other than a collectors' item. It's not about being 'cheap' - whatever your budget is, if you're picking an engagement ring say, why not get a technically superior (or larger) stone for the same price tag?

I pitched this to my wife a few years back. She insisted she’d rather have a smaller natural diamond. It makes no sense to me. Shiny carbon is shiny carbon to me. There’s no real logic in it. But given it’s a status symbol that derives its value from its rareness, I suppose it’s no different than a Luis Vutton or a Rolex. It’s not about the function, it’s about the fact that you can afford one. I hate that mentality,…

With logic like that, why buy a diamond at all? Sounds like your wife gets it!

Re: Diamond prices are in free fall in one key corner of the market

#60

Post by dahdum »

gnicholas wrote: post #31

I wonder what the second-order consequences will be. That is, people will still want to signal their commitment/ability to provide when proposing, so the drop in the price of diamonds won't necessarily reduce the overall outlay. Instead, it would shift the expense to another category (platinum or other expensive metals) or simply lead people to buy more carats (4 is the new 2!). In some ways, these moves could help l…

Bespoke. Allocate the savings from lab diamonds to design and you can get a more meaningful ring with higher quality materials for similar cost.

Customization has been on the uptrend for several years.

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