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Showerthoughts_Mod t1_iu1sxx8 wrote

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1

Jnida23 t1_iu1t23d wrote

So is gold, silver, platinum, rubies, sapphires, emeralds etc etc. They hold intrinsic value.

Edit: I meant to say they are a store of value

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ALWAYS_have_a_Plan_B t1_iu1tfb8 wrote

Op is right. It is weird we place such value on such an insignificant (and abundant) rock.

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WRXboost212 t1_iu1ujax wrote

Replying to Jnida23 (#269,701)

Gold silver and platinum all have functional value as well- but your right that all their values are overly inflated mostly due a universal agreement they are pretty, lol.

Edit: grammar

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artaig t1_iu1w6ip wrote

They are not just shiny, they are durable.

Same with gold; it has been use as a commodity for exchange of value since antiquity since it is the only (readily available) metal that never corrodes. If your "wealth" is a bunch of iron, it will rust within your lifetime. That's why it was always used by the Church to represent God: both God and gold are incorruptible.

Keeping your simplistic reasoning. Why a number in an excel sheet is so valuable? I mean the number of nothingness that Jeff Bezos has in his bank account. It's literally nothing.

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Aa-338 t1_iu1wark wrote

The shiny ones, all marketing. Look it up. It's crazy how dumb we are. The others. Very very very hard. Lots of industrial use

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punk_rancid t1_iu1wg1h wrote

Replying to 8Bit-Armory (#269,846)

Tool grade diamonds are waaaaaaaaay cheaper thant jewelry grade diamonds, i can buy a. 6 inches diamond encrusted cutting whell for 10 bucks, but a 20mm ring with a single diamond in it can set you back thousands of dollars.

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surelythisisoriginal t1_iu1xsqz wrote

What you're witnessing here is marketing at work. Convincing people they need something they absolutely don't and then tightly controlling and artificially manipulating supply. Ah, capitalism!

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Rachaeloaf t1_iu1y2l7 wrote

And the REAL diamonds are difficult to come by. And the danger to get their hands on one, the travel, the sweat :(

−2

himmelstrider t1_iu1ywz9 wrote

Replying to artaig (#270,199)

Yet, gold was corruptible. It doesn't rust, yes, but as gold coins and nuggets were used, in said use, they would erode slowly. That is one of the main reasons we switched to banknotes. Banknotes originally were basically a bond, a proof from the bank that such amount of gold is held by the bank in your name. People then figured out it's a hassle, so they started exchanging said notes, using it as essentiay cash, money as we know it today. Back in some year, can't remember, money notes stopped being backed in gold, and just became what you said, a number that we give value to, that has absolutely no real hard value behind it but the guarantees of various institutions (Central Banks of the world) and inherent market laws. That's why value of money can tank overnight due to politics, economy upset etc.

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rrickitickitavi t1_iu206gk wrote

Not weird. Stupid. You need no greater proof that people are idiots.

1

wwwhistler t1_iu20oet wrote

Not rare at all. There are enough cut and polished diamonds to give every man woman and child 2 carrots in stones ...pluss many more TONS of unpolished and commercial grade diamonds

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Bigtoad3553 t1_iu20xqn wrote

Actually out of all the precious stones, diamonds are actually the most common and least valuable.

Their perceived value dates back to an old marketing campaign that was so effective, they have been considered precious ever since.

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ssgss111111 t1_iu21srr wrote

From what i know it takes millions of years much pressure and heat to make it so that might be why

1

throw4jklfj t1_iu21us9 wrote

Replying to punk_rancid (#270,991)

Yeah because they know people will pay for it whether the diamond is synthetic or not, the marketing has done its job. I'd be interested to see the profit margin they take in for natural vs synthetic jewelry diamonds.

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GARRthePIRATE t1_iu22kvq wrote

Technically, the light you perceive from the shimmer of the diamond has travelled about 90% slower than the speed of light within the prisim refracting and eventually traveling out returning to the speed of light to your eyes. So viewing diamonds is like looking into a slowmotion multiverse or veiwing a larger chunk of time of the past all in real time. Really poetic. Not to mention that it is all carbon which is generaly a dirty thing, now all clean and transparent. It's another hopeful and poetic allegory about the state of the human condition and the hopes that though all of the dirt we might acheive some sort of ascension from the opaque to the transparent.

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Cylon_Skin_Job_2_10 t1_iu233zy wrote

Artificial scarcity and massive amounts of marketing. De Beers has stock piles of diamonds and trickles them out at a steady pace to keep the prices from dropping.

A little over 60 years ago, they paid celebrities to wear diamond rings. Specifically chose engagements and wedding rings as the thing to associate with diamonds, because people lose all common sense when something is attached to romance and love. The image of a woman breathless when the box is opened and the guy proposes, goes straight into the emotional brain because we pick up cues about how we should feel about things, based on other peoples reactions. They paid media outlets to talk about the ‘new diamond trend’.

Lastly, after convincing people they had value and are also an ‘investment’, they turned around and said ‘a diamond is forever’. Well then, who wants to buy a used engagement ring from someone who’s marriage didn’t work out? That’s no symbol of eternal love anymore. So they hampered the resale market as well.

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Chiyote t1_iu24nuv wrote

There’s a warehouse full of them in Idaho. Personally I don’t think diamonds are valuable. The sooner everyone else realizes the sooner they stop pretending to have value and the sooner people stop having to suffer because of them.

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Autumnlove92 t1_iu24ysc wrote

Replying to surelythisisoriginal (#270,450)

Yep, this! Diamonds are CHEAP (excluding the lives they cost) But I believe it was the 1940's that marketing made people believe they were worth the thousands they charged. "3 months salary" for a wedding ring sorta shit. And women ate it up.

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Guywithoutfacialhair t1_iu256ad wrote

Theyre pretty and it looks unique i guess… i like giant covalent lattices…

1

Seevian t1_iu275yn wrote

It's almost like the entire diamond industry is a scam that artificially inflates the price of a pretty rock for insane profits!

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Tsashimaru t1_iu286of wrote

I mean technically it’s just carbon so it’s pretty much just soot.

2

laugh0utlau t1_iu29mh0 wrote

Replying to surelythisisoriginal (#270,450)

Yup, especially because they are manufactured now and have other alternatives that are slightly less tough at the fraction of the price. Plus there are definitely other precious gems that look nice and are different than just selecting diamonds or similar gems

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KaiHasArrived2007 t1_iu2aq6f wrote

Lmao people see diamonds and have as my mom calls it a "ooo shiny" moment

Originally it was a term for me getting distracted by small stuff but I think it fits here

1

Me5hly t1_iu2b6wz wrote

Gold can be used in electronic components, and diamonds are so hard they can be used for cutting tools.

Historically most of their value has just been being shiny. And with how diamond mining works they just choke the supply to keep the prices artificially High

1

BeeBladen t1_iu2c80e wrote

Aren’t humans attracted by ALL shiny objects? Mirrors, gold, silver, watches, water….were basically big, distracted birds, LOL

2

spartanwill14 t1_iu2d1en wrote

They only have "value" because we gave them value. And yes. It is just a shiny object..

1

Donwald t1_iu2dq75 wrote

Replying to Handbag_Lady (#272,514)

Years of societal programing via direct advertising through commercials, and indirect advertising by being referenced in all sorts of other media as the peak of opulence and "mandatory" for "truly important" jewelry

Real diamonds can be manufactured in a lab, in bulk now

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cschiada t1_iu2fcax wrote

There actually is a 500% markup on diamonds and most jewelry in those expensive jewelry stores.

1

raventhemagnificent t1_iu2fev4 wrote

I make deliveries to a jewelry store and have gotten to know them over the years, seen their customers, and have heard their 'woes.'

Jewelry industry unsurprisingly in a major slump. Their primary customer base is the older generation who is even now not buying jewelry, but looking to modify jewelry already owned. They refuse to understand that their 'luxury' item is just that, luxury, and the younger generation simply can't justify the cost, especially knowing what we know now about the jewelry industry.

This past week they had an Instagram influencer for the day teaching them how to take better photos of their products to pull in new customers. A move received negatively by the manager on duty, but he's to understand instagram is a good way to advertise.

They've tried to sell to me in the past, what with knowing I had a girlfriend. Visibly upset when I told them my partner would slap me if I spent that kind money on something so material, even more upset when they learned the engagement ring I did buy cost $240. They don't try to sell to me anymore.

It's good that it's a dying industry. Awful, predatory, and a huge waste of money imo.

−1

Anusbagels t1_iu2g3pq wrote

Replying to Donwald (#273,020)

Yup and they were much cheaper for a bit but now the greedy fuckers are jacking the lab grown prices up as well. My wife gets cheap zirconias now and we aren’t in debt over pointless, useless Little Rock’s that are easily lost.

2

Grinagh t1_iu2g6ib wrote

Replying to surelythisisoriginal (#270,450)

The reality is the commercial diamond market is largely dominated by industrial use, the tiny portion that is used in jewelry is a marketing campaign like you said from the 1950's like much of the marriage-industrial complex.

1

syko82 t1_iu2g7qs wrote

Blame De Beers. They created artificial pricing and scarcity.

1

Drifter747 t1_iu2hhqd wrote

Some designer bags cost far more than diamonds but cost less to make than diamonds are to mine. Humans love the perception of value.

1

soclda t1_iu2i9c2 wrote

Replying to Nieshtze (#272,615)

They’re actually very strong due to how the atoms are bonded; they use diamonds to cut and shape other diamonds, as well as using them as drills, etc. On the Mohs hardness scale, they score a 10 out of 10. That doesn’t mean they can’t be scratched or chip, but they’re definitely tough.

5

ddkatona t1_iu2i9rh wrote

Not because they are shiny. They are valuable because they don't have amortization and they are rare.

If you buy diamond now it's going to hold its value for the next 50 years guaranteed. That alone makes it a really valuable asset.

2

Chickenizers t1_iu2iyix wrote

They’re actually really plentiful they’re just really monopolized

1

ClosetGamer19 t1_iu2jxgz wrote

if I remember correctly, one company has control of ALL the world's diamond market. they have countless, limitless diamonds, but only release so many every year to the public, keeping prices artificially high. if it's a ring you're after, go for a lab diamond. chemically identical to a natural diamond, everything is the same, but they're way cheaper and youre not giving money to those shmucks who rip everyone off by selling rocks, just because they can.

1

Natural_Resident_960 t1_iu2ke9x wrote

Actually, Diamonds are the worst case of monopoly. The de Beers company bought ALL diamond mines and despite the diamond being common af, they only dispatched a diminute amount of them compared to their actual capacity in order to lower the offer. Then they did MARKETING, LOTS OF IT. The "Diamonds are Forever" movie is one of the examples, another example is the "2 months of salary" rule which was made up in a commercial, and PLENTY of marketing to make it the rule at weddings. All this marketing increased the demand so much and since they where the only offer, THEY put the price. As logical, the price skyrocketed and that is the reason behind the price of diamonds. F you de Beers

1

SolidDoctor t1_iu2le1f wrote

Replying to GARRthePIRATE (#271,259)

Atmospheric carbon is a pollutant, but carbon in and of itself isn't dirty... it's a major building block of life. Our bodies are made of 19% carbon. The clear and transparent diamond allotrope of carbon is just a common alignment of carbon atoms.

If you want your fiancee to feel special, buy her a buckyball ring instead.

2

StrykerL23O t1_iu2lusi wrote

Adam Ruins Everything does an entertaining video about diamonds and engagement rings. Why Engagement Rings are a Scam: https://youtu.be/N5kWu1ifBGU

Lastly, a gentleman posted on Reddit in the AITA subreddit and asked what everyone thought about his situation regarding a lab grown diamond he purchased. So, he bought a beautiful 3.6 karat lab grown diamond ring for his Fiance that he spent $20,000 on. Apparently it took him 10 years to save up! Anyway, she was shocked to learn it wasn't mined and therefore, not a natural diamond. I'm sorry, but if it is structurally the same, what does it matter?! A lab grown diamond ensures that it is eco-friendly and not a blood diamond aka conflict diamond. Her reaction just baffled me.

Edit: But to each their own! Honestly, I respect everyone's decision in what they want their engagement ring to be. Gemstone, Moissanite, Diamond, etc. I just wish diamonds weren't a deciding factor in saying yes to a wonderful person you can easily spend the rest of your life with.

1

Jennysau t1_iu2n1xp wrote

All thanks to de Beers group. 1 family owning most of the diamond production and causing artificial scarcity. Also very smart marketing trough Hollywood. Did you know they just made up the thing that you should use diamonds to get engaged, and even that you should spend at least a few months of salary on it. Before they promoted that idea via movies it really wasn't a thing.

1

lunkdjedi t1_iu2nf66 wrote

Ah yes, the diamonds vs water conundrum, context is everything.

1

twichy1983 t1_iu2nhtj wrote

DeBeers global artificial restriction on distribution, coupled with mind controlling levels of marketing.

1

johnsonsantidote t1_iu2oxg1 wrote

I object 2u being objective. U've just smashed the shiny object market.

1

Virtual_Elephant_730 t1_iu2p7zd wrote

And a CZ is indistinguishable from a diamond by sight, yet people don’t want them. They want to think they have something unique, rare and valuable.

1

9Lives_ t1_iu2pfz7 wrote

Replying to Bigtoad3553 (#270,976)

Yeah Marilynn Monroe saying “Diamonds are a girls best friend”

Their feedback from focus groups found that men didn’t know how much to spend on an engagement ring and rather than set a price they had characters in a movie say that the cost should be around “a months pay”

Then the de’beers family hoarded TONS of them to keep the price artificially high.

What baffles me is that the difference between CZ and genuine diamond in terms of appearance to the naked eye are minuscule yet the price disparity is like over 10,000 times the price.

Humans have a long history of collecting shiny rocks for ceremonial/cultural use, there’s evidence of humans during Neanderthal periods burying there loved ones with stones that they could only have collected by walking thousands of miles to obtain and I think that’s one of the reasons why it’s so easy to make people fork out large sums of money for what’s essentially nonsense, because it’s deeply embedded in our DNA.

11

Omnizoom t1_iu2pkk7 wrote

Diamonds are intrinsically worthless , of all the precious stones they are pretty much the least precious , if you were to take random samples from the earth globally and take an average , you would find diamonds practically everywhere and easily 100x more then say emerald (green beryl) which that being said some variations of “common” gemstones are so extraordinarily rare that they have an actual scarcity such as bixbite (red emerald ) and are super valuable but it’s hard to find any jewelry made from them

1

Path_Fyndar t1_iu2pz5j wrote

Collect all the shinies. They makes the sparklie-sparkles in light.

But in all seriousness, it's artificial scarcity and great marketing to keep prices up.

1

Skyraider96 t1_iu2qig2 wrote

Replying to punk_rancid (#270,991)

A big difference is tool diamonds are polycystalline (atom are different directions) where lab grown diamonds are single crystalline (or attempted to be) so the clarity is different.

Also, tool diamond are normally created by HPHT process where jewelry is normally CVD process. Different time and cost per stone.

2

Drused2 t1_iu2rr39 wrote

They’re also exceptionally useful in industry, so calling them just pretty baubles is ignorance.

1

Hawkwise83 t1_iu2s15a wrote

It's not weird. It's capitalism. They hoard diamonds, only sell a few to keep them fake rare.

1

Scevs t1_iu2ujxb wrote

Its weird that celebs are valuable, they are just shiny people.

1

Bigtoad3553 t1_iu3m57l wrote

Replying to 9Lives_ (#274,806)

Yeah I mean we like shiny things, fair enough haha

But out of all the shiny things, we picked the least valuable one as the most valuable because of a marketing campaign. Like really?

Still, my other half likes diamonds so I sucked it up and bought a big ol' over priced rock for her engagement ring 😂

1