Pink Sapphire And Diamond Engagement Ring, The Seamy Facet of Diamonds ?
Q.We had seen the very interesting documentary on diamonds on public TV just before we went, and that was great because it informed Moe of something I was already aware of, namely that the high price of diamonds is completely artificial, and does not represent any intrinsic scarcity - there's tons of diamonds around, but DeBeers buys, threatens, or otherwise convinces everyone else not to sell them.
A.I had heard much of that information you provided from that show before, though not the details of DeBeers ways of doing business. I can assure you that the facts about the value of a "used" diamond are as you stated. I had a small diamond that my former husband had given to me as an engagement ring. He paid about 100 for it 16 years ago, and when I took it back to the jeweler that he bought it from, with it's certificate from them, the engagement ring AND the plain gold wedding band together netted me $40. He only took it back because it had been bought from them and I could prove it, too. I too saw this show, and it was very enlightening - enough so that my fiance and I decided to get an emerald cut sapphire for her ring, instead of a diamond. Not to mention the fact that she really wanted a colored stone. Not to mention the fact that diamonds (of a good quality) are way too expensive. Maybe DeBeers is scared - have you seen their commercials? Nah... As far as I'm concerned, DeBeers can take their stuff and their attitude and shove it. I hope the Justice Department kills'em. I'm not backing DeBeers, but this discussion shows the "Pied Piper Effect" that the media has on most people. If Debeers wants to (and is able to) artifically inflate the value of diamonds and create its own monopoly, it is good marketing on their part. You can't deny the beauty of a well cut diamond, and its strength has been symbolic of a wedding commitments for hundreds of years. The value is moot unless the stone is lost anyways. Also, keep in mind that whenever you buy jewelery, no matter what it is, somebody is making an awful lot of money off of you.
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