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I love diamondssuck.com, but it seems the article they link https://www.theatlantic.com/doc/print/198202/diamond/ https://www.theatlantic.com/doc/print/198202/d

by nojvek 3y ago

I love diamondssuck.com, but it seems the article they link https://www.theatlantic.com/doc/print/198202/diamond/ https://www.theatlantic.com/doc/print/198202/diamond/ is 404-ing (not available). Likely De Beers did what cartels do and threw their lawyers to take it down? diamondssuck should instead link to https://web.archive.org/web/20130522104756/http://www.theatlantic.com/magazine/archive/1982/02/have-you-ever-tried-to-sell-a-diamond/304575/?single_page=true https://web.archive.org/web/20130522104756/http://www.theatl... which is a working link. The long article is truly worth a read.

BlueTemplar 3y ago
What I don't understand is how De Beers hasn't gone bankrupt yet : > According to industry estimates, the average one-carat flawless diamond had fallen in value by 50 percent since January of 1980. In March of 1980, for example, the benchmark value for such a diamond was $63,000; in September of 1981, it was only $23,000. https://diamondssuck.com/ https://diamondssuck.com/ > Diamond: Via Blue Nile: 1.00-Carat Round, Very Good-cut, I-color, and VS1-clarity diamond comes accompanied by a diamond grading report from the GIA. Price: $4,565 https://news.ycombinator.com/item?id=38252743 https://news.ycombinator.com/item?id=38252743 So, converting to today's dollars, that's : 1980 : $235.3k/1ct 1981 : $ 77.9k/1ct 2006 : $ 7.0k/1ct 2023 : $ 3.5k/1ct (and 1.3k/1ct for lab-grown) Also, why the HELL would investors think that's a store of value, like here ?!? https://news.ycombinator.com/item?id=37508058 https://news.ycombinator.com/item?id=37508058 I guess it's more «investors» + speculators instead, which only looked at recent values ??