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Diamonds Are Bullshit

blog.priceonomics.com

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Re: Diamonds Are Bullshit

#661

Post by vadman »

Nursie wrote: post #658
vadman wrote: post #651

Earlier quoted context omitted.

Not sure why you got downvoted. There is an interesting couple of articles on the subject here: http://thelastpsychiatrist.com/2012/01/what_would_you_do_if_... http://thelastpsychiatrist.com/2012/02/what_would_you_do_if_...

I'm not sure either. Weird. I found it quite hard to extract anything from those articles. I think what it's trying to say is that if the ring becomes an issue then the relationship may be far from perfect anyway.

The main thing I took away was in this passage: "you prove to me I'm worth it. ...make me know how valuable I am. Because I don't have any idea..."

But then, I don't see how she'll be satisfied with any ring. Surely if a guy could sacrifice this much he could sacrifice just a bit more - so she may not be that valuable to him. I don't even want to start thinking about a guy who can afford a bigger rock suddenly showing up :D

Basically, the moral of the story, for me, was: 1) Avoid women who don't know their worth and require external confirmations; 2) Develop your own sense of self-worth by doing something worthwhile, then finding a like-minded woman would be easier.

I think.

Re: Diamonds Are Bullshit

#662

Post by vadman »

nawitus wrote: post #551
peterarmstrong wrote: post #416

Earlier quoted context omitted.

Yeah, the things that women do in order to outdo their female friends are expensive and pointless--almost as much so as the things that men do to outdo their male friends!

At least men tend to spend their own money to increase social status by buying more expensive cars and gadgets.

Well women spend their time and health bearing and nursing our (hopefully :) children. That's resources they could have dedicated to pumping their social status. So in the end it's fair I guess...

Re: Diamonds Are Bullshit

#664

Post by rajpaul »

The reason diamonds have such low resale value is because, unlike precious metals, a diamond is not fungible.

Someone in the diamond business already has a wholesale source who provides them with a variety of stones at market prices.

Then Joe Blow comes in off the street and wants to sell his stone. Why would the buyer offer the seller market price? They already have a source for market price stones. So the buyer will low ball Joe Blow.

And Joe Blow will accept the low ball because it isn't easy to find a buyer for a diamond when you only have one stone because each one is unique and different people want different things.

Re: Diamonds Are Bullshit

#666

Post by checker »

n09n wrote: post #609
pyre wrote: post #579

Earlier quoted context omitted.

Huh? Having the money to splurge on a ring is a signal of financial fitness because you have the extra money to spend on something that will 'have no return' (so the speak). It's hardly a case of 'burning of your ships.' If you have the financial security to splurge on some ridiculous ring, then it's also possible that you have the ability to just absorb the cost if you don't like the marriage. Besides, depending on…

Two people propose to you with rings that cost 25k each. One ring is resellable for 20k. One is resellable for 5k. Which one do you think is more likely to renege?

If a proposer reneges, then you'll own the ring:

http://en.wikipedia.org/wiki/Engagement_ring#Legal_ownership

Re: Diamonds Are Bullshit

#667

Post by indiecore »

lesterbuck wrote: post #438
omegant wrote: post #420

Earlier quoted context omitted.

Then buy used (the diamond) and pay for a nice ring design. But don't tell her.

My grandfather ran a grocery store throughout the Depression, and he accumulated a large selection of diamond rings from cash strapped customers. When my father and his brother were getting married, they had their choice of the rings. I've always wondered how other diamond rings get recycled or removed from the market. Diamonds are forever, after all, so why doesn't the price collapse from being awash in used stones…

Try selling a diamond ring. They're practically worthless from a resale point of view. DeBeers literally has caves full of diamonds that they hoard to keep the illusion of scarcity.

Re: Diamonds Are Bullshit

#668

Post by Gravityloss »

I guess that could be used as a filter - I certainly wouldn't want to date someone so gullible who wants a diamond ring. Is it really so pervasive? I'm not American but it's hard for me to believe.

Here in Northern Europe, I know many couples have abandoned the idea of gold wedding rings because of the huge environmental damage that comes with gold. A titanium ring is kinda cool too. Someone can buy 5 euro hematite rings, and their marriage's been just fine, with children.

In the future, the price of diamonds and gold could go down because of such trends spreading further. They will be replaced with some other, possibly just as symbolic things. Wouldn't it be much more awe inspiring to say in a ladies dinner table conversation that your fiancee is going to donate tens of thousands of dollars to a children's education project in Peru that you picked, as a symbol of his love for you? Instead of a useless rock that doesn't hold its value...

Maybe such symbols of richness are not so important here as the society is more egalitarian and there are more safety networks and springboards for children's success than just your own / family / spouse's money - couple selection is a lot about what it's actually like to live with someone.

Re: Diamonds Are Bullshit

#670

Post by Gravityloss »

setrofim_ wrote: post #520
n09n wrote: post #496

Earlier quoted context omitted.

Wanting the respect of others in your peer group is sad now?

I think what's sad here is not the desire for the respect of one's peers, but the means chosen to attain it; or rather, the arbitrarily-established mechanisms for doing so.

She should change her friends.
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