4 ms·
One thing I don't quite understand - why didn't a second-hand diamond market form, if one could get diamonds so much cheaper that way?
by deogeo 7y ago
One thing I don't quite understand - why didn't a second-hand diamond market form, if one could get diamonds so much cheaper that way?
- dmitrygr 7y agoThe article touches on that: * Marketing to discourage such sales ("a diamond is forever" "a diamond is a family heirloom") * Few people would be willing to sell something for 1/3 - 1/5 of what they paid for it if said item in no way degraded. It just sucks psychologically
- AnimalMuppet 7y agoBut if the second-hand diamond market existed, then they would only have bought it for 1/3 to 1/5 of the current price, too. (You could still face that problem getting the market going in the first place...)
- dmitrygr 7y agoDeBeers used to mandate Jewelers do not buy used diamonds under threat of inability to buy new ones from them
- andechs 7y agoBecause the 2nd hand valuation is so much lower than the purchase price, there aren't any sellers. There's TONS of demand to get a diamond for 80% off retail, but many diamond owners would rather not sell than accept the massive write-down on their "asset".