Can someone clarify this for me(diamond related)

[I AM WE ARE]

I've heard(paraphrasing) that diamonds don't really have value. Is it that they're overpriced or is that because they're not rare as other stones?

 

[I AM WE ARE]

@Jasonmask

 

[Jasonmask]

@Jasonmask

It depends on the triple Cs

 

[Who Not How]

Nothing has value without the people agreeing to it.

Good marketing and understanding human nature has resulted in diamonds being more expensive than they really should be.

Google De Beers Group.

 

[I AM WE ARE]

So basically they're just trinkets of vanity? I heard about de beers but haven't gone into depth.

 

[I AM WE ARE]

It depends on the triple Cs

C'mon bruh
Clarity is one, what's the other 2

 

[Dafunkdoc_Unlimited]

They aren't rare and, as a prior poster alluded, a company used propaganda to artificially inflate their value.

It worked.​

 

[Orbital-Fetus]

C'mon bruh
Clarity is one, what's the other 2

color?

 

[RubioTheCruel]

C'mon bruh
Clarity is one, what's the other 2

color cut clarity

 

[Amestafuu (Emeritus)]

I've heard(paraphrasing) that diamonds don't really have value. Is it that they're overpriced or is that because they're not rare as other stones?

Edward Jay Epstein’s “Have You Ever Tried to Sell a Diamond?” was one of them. In his 1982 Atlantic story, the investigative journalist deconstructed what he termed the “diamond invention”—the “creation of the idea that diamonds are rare and valuable, and are essential signs of esteem.”


That invention is surprisingly recent: Epstein traces its origins to the discovery of massive diamond mines in South Africa in the late 19th century, which for the first time flooded world markets with diamonds. The British businessmen operating the South African mines recognized that only by maintaining the fiction that diamonds were scarce and inherently valuable could they protect their investments and buoy diamond prices. They did so by launching a South Africa–based cartel, De Beers Consolidated Mines, Ltd. (now De Beers), in 1888, and meticulously extending the company’s control over all facets of the diamond trade in the ensuing decades.

We Buy Engagement Rings Because a Diamond Company Wanted Us To

In the 1930s, few Americans proposed with the precious stone. Then everything changed.

www.theatlantic.com

 

[I AM WE ARE]

De Beers created their distribution channel, called the Diamond Trading Co., or the DTC. This allowed only approved buyers or 'sightholders' to purchase in the non-negotiable DTC sales. They controlled pricing by holding onto rough during a weak market or flooding the market during an increased demand. plus these lying mfs trying say diamonds keep the economy of the countries alive?

 

[I AM WE ARE]

Sooooooooo basically we can stop buying diamonds and should've been stopped?

 

[Kiyoshi-Dono]

 

[jdubnyce]

Diamonds have value because the market says they do

Colour, cut, clarity, carat

 

[Prodigital]

Get a lab grown and stop giving a fukk. Looks equivalent, saves major money, and doesn't fuel genocides in africa. Win Win.