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The "problem" is obviously from the point of view of the industry; consumers are probably happy about it! I believe that the article refer to the jewellery (di
by throwaway744678 7y ago
The "problem" is obviously from the point of view of the industry; consumers are probably happy about it!
I believe that the article refer to the jewellery (diamond) industry; people, like you, interested in its physical properties already use synthetic diamonds or imperfect mined diamonds that would not be usable for jewels.
- grogenaut 7y agoIt's bad if you bought into the industry line that a diamond is an investment. Oh Grandma has that diamond ring that's worth $20k.
- teddyh 7y agoDiamonds are not, and it’s doubtful if they ever were, an investment: Have You Ever Tried to Sell a Diamond? https://www.theatlantic.com/magazine/archive/1982/02/have-you-ever-tried-to-sell-a-diamond/304575/ https://www.theatlantic.com/magazine/archive/1982/02/have-yo...
- Nasrudith 7y agoReally it highlights general financial illiteracy towards the difference between speculation and investment. People often give stock traders grief for doing worse than random picks over long term but the average person does /way/ worse given things like Beanie Babies and other "collectables". A very good rule of thumb is that if they say it is collectable when it is sold there is no bonus value. An actual investment gives some sort of returns for holding it or can be used to generate more returns. A $60 box of spark plugs for a mechanic is an investment as they can make say $600 over a few customers. Filling your closet with spark plugs while they eventually become obsolete is not an investment.