Do you think diamond has no resale value?

[WindAtMyBack]

I don't know about resale, but diamonds are vastly over priced. There is a HUGE markup on diamonds. There is a near monopoly of the market by one company. They exploit the hell out of countries and workers. It's just a really nasty business all around.

There is a lot of exploitation with gold also, but it's not nearly as bad as diamonds. For some reason, mining in general has been very exploitive throughout history. There has always been a lot of slave labor, or near slave labor in mining. There still is.

[Tyrael]

Diamonds are expensive because the market is almost entirely dominated by one supplier, it's nothing to do with their rarity. Gold on the other hand can be more reliably resold as although it holds a fluctuating value, there's a bigger market for resale.

[Bee-Hatch]

Look at the kinds of folk who flaunt diamonds. Tacky AF


Truth is diamonds aren't particularly rare. It's just good advertising by DeBeers that keeps the value up.

[BeMuse]

Diamonds are just carbon. We can make them synthetically for pennies even if they are pushed through clever marketing ploys to women as some rare earth jewel from some far off land that you should pay tens of thousands of dollars for... Diamonds are used as industrial abrasives, cutting tools, etc. In the near future they will likely be in quantum computers in every single persons house and no one will care at all.

[hellacray]

Well I've heard of people investing in precious metals like gold and silver.

But I never heard anyone investing in diamonds. Well I guess if you're like a pawn shop you can technically just buy the diamonds at a low price from the person bringing it in.

[UrBrotherCain]

they can be manufactured, but gold and silver have a limited amount and therefore have some kind of worth backing them.

[sweetcocoa_]

Yeah gold is much better and unique stones