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I strongly recommend you read the article "Diamonds are Bullshit" (https://news.ycombinator.com/item?id=5403988 https://news.ycombinator.com/item?id=5403988) be

by tsomctl 10y ago

I strongly recommend you read the article "Diamonds are Bullshit" (https://news.ycombinator.com/item?id=5403988 https://news.ycombinator.com/item?id=5403988) before reading this. To summarize, genuine diamonds are extremely plentiful. It's just that De Beers has done an excellent job limiting the supply, to artificially drive up the price. When synthetic diamonds first came out on the market, De Beers started a succesful advertising campaign basically saying that synthetic diamonds were inferior. The most interesting part of this article is that De Beers' stranglehold on the market is starting to slip; people are realizing that synthetic diamonds are good enough. It will be extremely interesting to see their advertising campaign. The march of technology carries on.

prodmerc 10y ago
The campaign is simple: natural diamonds are for winners, lab grown are for chumps. They can probably even start charging more for them to make up for the loss of revenue. It's the same thing as buying a brand vs generic or lesser known brand, even if the latter is the same or better. Rich people pay enormous sums for vanity plates, this is no different.
- tempestn 10y ago
  Well, the one difference is that they're completely indistinguishable to the naked eye, so even if you're entirely driven by vanity, you could just buy a synthetic diamond (or Moissanite) and let people think it's a massive natural diamond. That said, I suspect I'm not the only one who thinks synthetic is cooler than natural. https://www.youtube.com/watch?v=fR38h4xPfVo#t=1m10s https://www.youtube.com/watch?v=fR38h4xPfVo#t=1m10s
- wlesieutre 10y ago
  Except someone else can see your vanity plate. Is anybody going to know whether you have natural or lab grown diamonds without asking to look at your ring under a microscope? I guess some people still enjoy showing it off and proclaiming how expensive it was, but you might as well brag about having flushed a thousand dollars down the toilet for all the effect it will have on your life.
  - JetSpiegel 10y ago
    Everyone will know, because you just won't shut up about it.
- kingnothing 10y ago
  Vanity plates, at least where I live in the US, are all of an extra $20 or so per year on top of the cost of a normal plate. This is a company telling you an alternative is inferior -- more like Verizon advertising that because their network is bigger it must be better than their competition.
- dwaltrip 10y ago
  If no one can tell the difference, outside of a super high tech lab, then how will anyone know the diamonds are natural, and not lab grown? When they are indistinguishable, and people get used to the idea, most will start buying lab grown. Especially with the ethical angle (conflict free and what not)
- zeveb 10y ago
  > The campaign is simple: natural diamonds are for winners, lab grown are for chumps. Honestly, I'd rather have a stone which was formed over geologic ages in the bowels of the Earth than one which was formed over the last month in a garage in Hoboken. But I'd also prefer not to subsidise genocide, civil war or De Beers. And I'm cheap. I can see spending extra on a real diamond for something special, but not for something run-of-the-mill. The thing is, how many of the traditional uses for jewelry-grade diamonds fall into the category of 'run-of-the-mill'? I think the engagement-ring business is probably secure for a long time. Earrings and other small jewelry? Probably not so much. The sort of things given for important anniversaries and occasions? Probably decently secure.
  - morganvachon 10y ago
    > Honestly, I'd rather have a stone which was formed over geologic ages in the bowels of the Earth than one which was formed over the last month in a garage in Hoboken. Can you elaborate on why you feel this way? The products are indistinguishable without an electron microscope, and you stated you don't want to contribute to the evils of the natural diamond trade. So what makes a "real" diamond so fucking desirable? The psychology of that baffles me.
    - jessriedel 10y ago
      Couldn't you understand why someone would want a real meteorite, that had actually fallen from the sky, rather than a regular rock, even if they were indistinguishable to the untrained eye?
      - morganvachon 10y ago
        Certainly, but compared to native rocks, meteorites are astonishingly rare. Natural diamonds are not at all rare; their scarcity is controlled by DeBeers, and this has been common knowledge for decades. Saying "I want a real diamond because it's rare" is about as juvenile a sentiment as one can have. Edit: Let me put it another way. Preferring a natural diamond to a lab-grown diamond when you know how they are obtained is tacit approval of murder, theft, and war, atrocities committed to ensure you get that "real" diamond on your finger. It's appalling that any sane, compassionate human being would be so flippant about the lives lost and families torn apart by the diamond trade.
kefka 10y ago
The lab-grown diamond people need a better angle, like this one: Our diamonds are lab-grown, by people who are well treated, make a respectable living, like you and I. Our diamonds are cruelty-free, Blood-free, and sustainable.
- etjossem 10y ago
  Exactly. It's the same situation as high fashion leaving fur behind. Even wealthy buyers decided fur was a dirty industry, and they readily moved to high-quality alternatives.
- asteadman 10y ago
  In Canada, Spence Diamonds is already advertising (what I presume are the same diamonds) as "artisan" and "handmade".
  - mmel 10y ago
    The workers there must have bloody strong hands.
  - markdown 10y ago
    Are they GMO free as well?
- gk1 10y ago
  They already market them that way. See Brilliant Earth's mission: "At Brilliant Earth we strive to make jewelry as beautiful as it can be. We are passionate about cultivating a more ethical, transparent, and sustainable jewelry industry."
  - andyjdavis 10y ago
    That says essentially the same thing as what kefka put forward but, unfortunately, in a much less compelling way.
  - davedx 10y ago
    I love Brilliant Earth. I purchased my fiancee's engagement ring from them. Excellent website and service.
bsder 10y ago
DeBeer's stranglehold is already broken. The Canadian diamonds did that. The only thing holding the prices up is that none of the people supplying diamonds really want to let loose as the value of diamonds will rapidly go to zero and nobody will get any money.
zamalek 10y ago
> De Beers started a succesful advertising campaign basically saying that synthetic diamonds were inferior. [...] It will be extremely interesting to see their advertising campaign. Nothing says "will you marry me?" like blood and slavery. Carefully curated by the most successful arms dealers. Each diamond has a story.
jiiam 10y ago
In light of the article cited here, the following extract of the original article contains some lies, i.e. that diamonds are value-holding assets. As a bonus, you also get some sexism for free: "The woman expects the man to give her something valuable that retains value just like their relationship. Snapchat Millennials or not, getting engaged to be married is not about creating a snap-relationship with a snap-synthetic diamond that does not retain value." (said by Martin Rapaport) So, in the end, I see this also as a fight between the two point of view: diamonds as jewerly vs diasmonds as finantial assets. The latter, I believe, is destined to die.
- chrisbennet 10y ago
  The "asset" part is a DeBeers created fiction. http://www.theatlantic.com/past/issues/82feb/8202diamond1.htm http://www.theatlantic.com/past/issues/82feb/8202diamond1.ht...

by tsomctl 10y ago

prodmerc 10y ago

The campaign is simple: natural diamonds are for winners, lab grown are for chumps. They can probably even start charging more for them to make up for the loss of revenue. It's the same thing as buying a brand vs generic or lesser known brand, even if the latter is the same or better. Rich people pay enormous sums for vanity plates, this is no different.

tempestn 10y ago
Well, the one difference is that they're completely indistinguishable to the naked eye, so even if you're entirely driven by vanity, you could just buy a synthetic diamond (or Moissanite) and let people think it's a massive natural diamond. That said, I suspect I'm not the only one who thinks synthetic is cooler than natural. https://www.youtube.com/watch?v=fR38h4xPfVo#t=1m10s https://www.youtube.com/watch?v=fR38h4xPfVo#t=1m10s
wlesieutre 10y ago
Except someone else can see your vanity plate. Is anybody going to know whether you have natural or lab grown diamonds without asking to look at your ring under a microscope? I guess some people still enjoy showing it off and proclaiming how expensive it was, but you might as well brag about having flushed a thousand dollars down the toilet for all the effect it will have on your life.
- JetSpiegel 10y ago
  Everyone will know, because you just won't shut up about it.
kingnothing 10y ago
Vanity plates, at least where I live in the US, are all of an extra $20 or so per year on top of the cost of a normal plate. This is a company telling you an alternative is inferior -- more like Verizon advertising that because their network is bigger it must be better than their competition.
dwaltrip 10y ago
If no one can tell the difference, outside of a super high tech lab, then how will anyone know the diamonds are natural, and not lab grown? When they are indistinguishable, and people get used to the idea, most will start buying lab grown. Especially with the ethical angle (conflict free and what not)
zeveb 10y ago
> The campaign is simple: natural diamonds are for winners, lab grown are for chumps. Honestly, I'd rather have a stone which was formed over geologic ages in the bowels of the Earth than one which was formed over the last month in a garage in Hoboken. But I'd also prefer not to subsidise genocide, civil war or De Beers. And I'm cheap. I can see spending extra on a real diamond for something special, but not for something run-of-the-mill. The thing is, how many of the traditional uses for jewelry-grade diamonds fall into the category of 'run-of-the-mill'? I think the engagement-ring business is probably secure for a long time. Earrings and other small jewelry? Probably not so much. The sort of things given for important anniversaries and occasions? Probably decently secure.
- morganvachon 10y ago
  > Honestly, I'd rather have a stone which was formed over geologic ages in the bowels of the Earth than one which was formed over the last month in a garage in Hoboken. Can you elaborate on why you feel this way? The products are indistinguishable without an electron microscope, and you stated you don't want to contribute to the evils of the natural diamond trade. So what makes a "real" diamond so fucking desirable? The psychology of that baffles me.
  - jessriedel 10y ago
    Couldn't you understand why someone would want a real meteorite, that had actually fallen from the sky, rather than a regular rock, even if they were indistinguishable to the untrained eye?
    - morganvachon 10y ago
      Certainly, but compared to native rocks, meteorites are astonishingly rare. Natural diamonds are not at all rare; their scarcity is controlled by DeBeers, and this has been common knowledge for decades. Saying "I want a real diamond because it's rare" is about as juvenile a sentiment as one can have. Edit: Let me put it another way. Preferring a natural diamond to a lab-grown diamond when you know how they are obtained is tacit approval of murder, theft, and war, atrocities committed to ensure you get that "real" diamond on your finger. It's appalling that any sane, compassionate human being would be so flippant about the lives lost and families torn apart by the diamond trade.

kefka 10y ago

The lab-grown diamond people need a better angle, like this one: Our diamonds are lab-grown, by people who are well treated, make a respectable living, like you and I. Our diamonds are cruelty-free, Blood-free, and sustainable.

etjossem 10y ago
Exactly. It's the same situation as high fashion leaving fur behind. Even wealthy buyers decided fur was a dirty industry, and they readily moved to high-quality alternatives.
asteadman 10y ago
In Canada, Spence Diamonds is already advertising (what I presume are the same diamonds) as "artisan" and "handmade".
- mmel 10y ago
  The workers there must have bloody strong hands.
- markdown 10y ago
  Are they GMO free as well?
gk1 10y ago
They already market them that way. See Brilliant Earth's mission: "At Brilliant Earth we strive to make jewelry as beautiful as it can be. We are passionate about cultivating a more ethical, transparent, and sustainable jewelry industry."
- andyjdavis 10y ago
  That says essentially the same thing as what kefka put forward but, unfortunately, in a much less compelling way.
- davedx 10y ago
  I love Brilliant Earth. I purchased my fiancee's engagement ring from them. Excellent website and service.

bsder 10y ago

DeBeer's stranglehold is already broken. The Canadian diamonds did that. The only thing holding the prices up is that none of the people supplying diamonds really want to let loose as the value of diamonds will rapidly go to zero and nobody will get any money.

zamalek 10y ago

> De Beers started a succesful advertising campaign basically saying that synthetic diamonds were inferior. [...] It will be extremely interesting to see their advertising campaign. Nothing says "will you marry me?" like blood and slavery. Carefully curated by the most successful arms dealers. Each diamond has a story.

jiiam 10y ago

In light of the article cited here, the following extract of the original article contains some lies, i.e. that diamonds are value-holding assets. As a bonus, you also get some sexism for free: "The woman expects the man to give her something valuable that retains value just like their relationship. Snapchat Millennials or not, getting engaged to be married is not about creating a snap-relationship with a snap-synthetic diamond that does not retain value." (said by Martin Rapaport) So, in the end, I see this also as a fight between the two point of view: diamonds as jewerly vs diasmonds as finantial assets. The latter, I believe, is destined to die.

chrisbennet 10y ago
The "asset" part is a DeBeers created fiction. http://www.theatlantic.com/past/issues/82feb/8202diamond1.htm http://www.theatlantic.com/past/issues/82feb/8202diamond1.ht...