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My grandfather ran a grocery store throughout the Depression, and he accumulated a large selection of diamond rings from cash strapped customers. When my fathe

My grandfather ran a grocery store throughout the Depression, and he accumulated a large selection of diamond rings from cash strapped customers. When my father and his brother were getting married, they had their choice of the rings. I've always wondered how other diamond rings get recycled or removed from the market. Diamonds are forever, after all, so why doesn't the price collapse from being awash in used stones from three or four generations of dead women?

jrmg 14y ago
As we found out when looking for a ring, there is (perhaps manufactured) superstitious social stigma attached to using a used engagement ring. How do you know it's not from a failed marriage? Many jewelers were confused and incredulous when we asked about one. After a certain age is reached though, the stigma seems to go away somewhat. We got a 'vintage' ring (about 100 years old) in the end - but they're hard to find; you won't find them in most chain jewelry stores. Incidentally, the reason you don't see many used bands is different; the metals are worth so much now that it's more cost effective to melt them down than to resell them at the depressed price the market demands for used jewelry compared to new.
- Thrall 14y ago
  > Many jewelers were confused and incredulous when we asked about one. Bear in mind that it is in the jeweller's interest to perpetuate such superstitions as it means they can persuade many customers to buy a new ring instead. Buying a diamonds as a romantic gesture, the buyer is vulnerable for two reasons: 1) They're unlikely to have much experience of buying jewellery; for many, this is the only occasion. 2) They probably feel very strongly about the gesture; it's very important that they get it right. Overspending pales beside the risk of offending the love of their life and/or subjecting them to negative judgement by their peers. As a result, it is all too easy for jewellers to intimidate the buyer by telling them exactly what is 'expected' and charging absurd prices for it.
  - jrmg 14y ago
    Absolutely - which is why I said the sentiment was perhaps manufactured. We went to multiple jewellers though, big and small, and either _all_ the employees were great actors or at least some were genuinely surprised that we made the request. Still, 'real' superstition or manufactured one, we didn't fall for it. I suspect many do though. A web search for "used engagement ring back luck" reveals the superstition is pretty widespread. [Edit: Not that I mean that many people actually _believe_ that the used status of the ring will affect their marriage - I suspect they're more concerned on how their partner and, perhaps more so, their peers will judge their decision]
  - RougeFemme 14y ago
    Agreed. I accompanied my fiance when he shopped for my ring and most salespeople tried to tell both of us that we were wrong. We ended up getting it from a catalog.
unreal37 14y ago
I would imagine diamond rings were rare during the Depression, while today they're common. Perhaps an entire year's sales of diamonds in 1930 takes place in a single day today. Wait til 1 or 2 generations from now. I'm willing to bet the entire racket will collapse on its own weight by then.
Someone 14y ago
"Diamonds are forever, after all" De Beers marketing worked on you. It is not that hard to destroy diamonds. Google "burning diamonds" for examples.
- ansgri 14y ago
  nobody does it, after all
indiecore 14y ago
Try selling a diamond ring. They're practically worthless from a resale point of view. DeBeers literally has caves full of diamonds that they hoard to keep the illusion of scarcity.

jrmg 14y ago

As we found out when looking for a ring, there is (perhaps manufactured) superstitious social stigma attached to using a used engagement ring. How do you know it's not from a failed marriage? Many jewelers were confused and incredulous when we asked about one. After a certain age is reached though, the stigma seems to go away somewhat. We got a 'vintage' ring (about 100 years old) in the end - but they're hard to find; you won't find them in most chain jewelry stores. Incidentally, the reason you don't see many used bands is different; the metals are worth so much now that it's more cost effective to melt them down than to resell them at the depressed price the market demands for used jewelry compared to new.

Thrall 14y ago
> Many jewelers were confused and incredulous when we asked about one. Bear in mind that it is in the jeweller's interest to perpetuate such superstitions as it means they can persuade many customers to buy a new ring instead. Buying a diamonds as a romantic gesture, the buyer is vulnerable for two reasons: 1) They're unlikely to have much experience of buying jewellery; for many, this is the only occasion. 2) They probably feel very strongly about the gesture; it's very important that they get it right. Overspending pales beside the risk of offending the love of their life and/or subjecting them to negative judgement by their peers. As a result, it is all too easy for jewellers to intimidate the buyer by telling them exactly what is 'expected' and charging absurd prices for it.
- jrmg 14y ago
  Absolutely - which is why I said the sentiment was perhaps manufactured. We went to multiple jewellers though, big and small, and either _all_ the employees were great actors or at least some were genuinely surprised that we made the request. Still, 'real' superstition or manufactured one, we didn't fall for it. I suspect many do though. A web search for "used engagement ring back luck" reveals the superstition is pretty widespread. [Edit: Not that I mean that many people actually _believe_ that the used status of the ring will affect their marriage - I suspect they're more concerned on how their partner and, perhaps more so, their peers will judge their decision]
- RougeFemme 14y ago
  Agreed. I accompanied my fiance when he shopped for my ring and most salespeople tried to tell both of us that we were wrong. We ended up getting it from a catalog.

unreal37 14y ago

I would imagine diamond rings were rare during the Depression, while today they're common. Perhaps an entire year's sales of diamonds in 1930 takes place in a single day today. Wait til 1 or 2 generations from now. I'm willing to bet the entire racket will collapse on its own weight by then.

Someone 14y ago

"Diamonds are forever, after all" De Beers marketing worked on you. It is not that hard to destroy diamonds. Google "burning diamonds" for examples.

ansgri 14y ago
nobody does it, after all

indiecore 14y ago

Try selling a diamond ring. They're practically worthless from a resale point of view. DeBeers literally has caves full of diamonds that they hoard to keep the illusion of scarcity.