Previous discussions: https://hn.algolia.com/?query=diamondssuck
Diamonds Suck
71–80 of 171 posts
Re: Diamonds Suck
#72Earlier quoted context omitted.
I think watches can be a bit different... At least expensive watches retain more of their value, or even go way up in the case of Rolex. It's true that for some, a big appeal of a good watch is the "implementation" or the mechanics or electronics that go inside, or the craft on creating it. And others use watches more as jewellery. But there's always somebody that use them to "show off": while some people will buy a…
"I think watches can be a bit different... At least expensive watches retain more of their value, or even go way up in the case of Rolex." Buying old Rolex watches is cult activity a bit like buying Elvis's shoes or such at auction for many thousands of dollars—although the latter is likely rarer and ultimately might be of historical interest in centuries to come. Same goes for other engineered products such as old L…
Signalling value is real and not related to gullibility. (There is a lot of costly signalling by animals as well.)
Re: Diamonds Suck
#73There is a bit of a cultural signaling to your future wife to say you are financially competent/stable that you were able to buy a diamond ring. Now you need to switch the narrative to say actually I didn't spend so we could buy an index fund instead. I don't buy the flawless argument in the article. I think people look for some flaws in diamonds. A perfect rock would look "fake". The big change since 2006 when the a…
> There is a bit of a cultural signaling to your future wife to say you are financially competent/stable that you were able to buy a diamond ring
In modern cultures I would assume the couple already knows each other and their financial situation before marrying. So why waste money on richness signaling especially if you are not rich?
Re: Diamonds Suck
#74I, as a European, cannot fathom how anyone would spend a significant amount of money on an engagement ring! The engagement rings we got ourselves cost 18$ and were made from wood. After all, they only need to last a few months, or maybe 1-2 years, until the wedding. Regarding the wedding ring, I can understand slightly better how someone would put a bit more money into that, considering that you wear it for life. But…
> After all, [engagement rings] only need to last a few months, or maybe 1-2 years, until the wedding. I think this is the cultural distinction you're missing -- married American women typically wear both their engagement and wedding ring their entire lives, and the engagement ring is usually the more ornate/expensive one (which might be due to the De Beers marketing throughout the 20th century this article discusses…
The thing is it's not the culture or tradition of the US. It's just a brilliant ad campaign that lasted way longer than it should.
Re: Diamonds Suck
#75Some thoughts from a mineral collector. There is considerable variety in naturally occurring diamonds. Colors, such as yellow, green, brown, black and famously a few blue and pink ones. Plus many crystal forms (Cubic, Octahedral, Dodecahedral, Tetrahedral, Trapezohedral, Tetrahexahedral,Trisoctahedral, Hexoctahedral, and some triangular Macle forms). An appeal of natural diamonds to some mineral collectors is the interest their unique crystal forms. These are expensive and tiny: a niche that I don't have in my collection. However, I did purchase a large cluster of what I think consists Moissanite crystals, not transparent; it looks like some failed industrial experiment.
Re: Diamonds Suck
#76Earlier quoted context omitted.
I always wondered what lab grown diamonds for jewelry would cost, so I googled "Ritani". Wow, you can get a 3 carat, VVS1/VVS2, ideal cut, colorless for $3,000. That's a huge stone and very high quality. That would be a $15,000+ diamond if natural.
What's the profit margin on a 0.6 gram chunk of fancy carbon being sold for three grand?
Not much, production cost is closer to that of RAM or a CPU than to a graphite pencil, as it's usually produced in the same way as semiconductors are.
Re: Diamonds Suck
#77Also applies to wine, audiophile grade gear, and similar kind of goods - most people can’t tell the difference.
Then there’s designer brands, which openly sell products of inferior quality. And with success too.
I guess diamonds are similar to both.
Re: Diamonds Suck
#78Earlier quoted context omitted.
Some people buy expensive watches, even though there are visually indistinguishable clones on the market. I still don't think that a fake Rolex makes for a great gift. I don't really want to advocate for diamonds here. I hate that it's mined at the expense of human welfare. I just want to point out that this article is 17 years old and not much has changed since it was written. Maybe it's not a compelling take?
It took the diamond industry several decades (and huge investments) to build their carefully crafted public image that translates into diamond purchases nowadays. These efforts are still in progress today. I am not sure if there are similar powers and interests behind the moissanite industry to match that. There appears to be some cultural change happening around smoking. It is very slow despite the proven causal rel…
It is probably true as far as retail engagement rings and certain smaller jewelry etc. is concerned, but rich and powerful people liked and valued diamonds way before that long marketing campaign.
Re: Diamonds Suck
#79Earlier quoted context omitted.
> I don't think Moissanite is the right replacement - they have too much of the so-called "fire", almost too sparkly as the article shows. I think Moissanites are inferior to diamonds in appearance in my personal, subjective opinion. I feel the same way. Moissanites are basically TOO good. They reflect light in so many carnival colors, and they shine so brightly, that they frequently look like fake carnival jewelry.
What? I can't understand this at all. We like gems _because_ they are shiny, not in spite of that. But alright, subjective opinion. I'm just enjoy my affordable shiny rocks over here.
I find people usually like a specific amount, and that often there is such a thing as excess, even with desirable things, traits. This also changes over time, and from culture to culture. Another example is the coloring of clothes. In ye olde times, a vibrantly bright colored article is a rarity, because dying it, and then keeping it clean are not trivial tasks. Nowadays, bright basic colors such as royal blue can easily seem cheap, like something from a bazaar. And many subtle tones, such as colors resembling what you'd find in nature, are popular.
Re: Diamonds Suck
#80Earlier quoted context omitted.
I always wondered what lab grown diamonds for jewelry would cost, so I googled "Ritani". Wow, you can get a 3 carat, VVS1/VVS2, ideal cut, colorless for $3,000. That's a huge stone and very high quality. That would be a $15,000+ diamond if natural.
What's the profit margin on a 0.6 gram chunk of fancy carbon being sold for three grand?
Very large, judging from the second hand market values.