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Thread: Diamond prices to crash - Trillions of carots found

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    Re: Diamond prices to crash - Trillions of carots found

    Quote Originally Posted by joko104 View Post
    Russia has announced they have a 62 mile wide ancient crater with TRILLIONS of carots of diamonds by a massive meteorite hitting a graphite deposit.

    Russian asteroid crater revealed to be filled with over $1 quadrillion of diamonds | Technology News Blog - Yahoo! News

    Remember all the "invest in gems" ads recently?
    You sound jealous of Putins Russia?

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    Re: Diamond prices to crash - Trillions of carots found

    Diamonds aren't as rare or valuable as people have been led to believe. . . the pricing is driven by pretty craft marketing at this point. Technology has flooded the market already and corporate dominance has kept the prices high.
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    Re: Diamond prices to crash - Trillions of carots found

    These diamonds are predicted to be rough industrial diamonds, not the fine Jewelry kind.
    With that said, yes, there has been gross market manipulation of diamonds.
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    Re: Diamond prices to crash - Trillions of carots found

    As a female, I really couldn't care less about gem stones even if I tried. And I never understood "investing" in jewelry to build wealth or a safety net.

    That said: Interesting development. Wonder why they're announcing it now.
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    Re: Diamond prices to crash - Trillions of carots found

    Quote Originally Posted by tessaesque View Post
    As a female, I really couldn't care less about gem stones even if I tried. And I never understood "investing" in jewelry to build wealth or a safety net.

    That said: Interesting development. Wonder why they're announcing it now.
    I read somewhere that the tradition of giving a fiancee' a diamond ring was a statement that the man was going to give her economic security - in a era where women were dependent upon men for her personal economic situation - with the diamond to be at least a minimal safety net for its value.

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    Re: Diamond prices to crash - Trillions of carots found

    Quote Originally Posted by joko104 View Post
    I read somewhere that the tradition of giving a fiancee' a diamond ring was a statement that the man was going to give her economic security - in a era where women were dependent upon men for her personal economic situation - with the diamond to be at least a minimal safety net for its value.
    I guess that makes sense....

    The ring I want has a very, very small sapphire (and I believe it's a lab-created sapphire, at that). No diamonds at all. It's white gold, which is pretty much my only "splurge", and only because I hate yellow gold (looks tacky to me).

    My thing is: why would I want something super expensive and super flashy drawing attention to me? Women who carry designer bags and deck themselves in pounds of expensive jewelry are just screaming to be accosted and robbed, IMO. I'd rather keep it simple and low key. If I don't look like I have money, I'm not likely to be targeted for it.
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    Re: Diamond prices to crash - Trillions of carots found

    Quote Originally Posted by Aunt Spiker View Post
    Diamonds aren't as rare or valuable as people have been led to believe. . . the pricing is driven by pretty craft marketing at this point. Technology has flooded the market already and corporate dominance has kept the prices high.
    Crafty marketing AND DeBeers keeping the supply on the market artificially low since they pretty much own directly or indirectly most of the operating diamond mines.
    Last edited by Fisher; 09-27-12 at 10:12 AM. Reason: My thought reversed itself from brain to finger

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    Re: Diamond prices to crash - Trillions of carots found

    Quote Originally Posted by tessaesque View Post
    I guess that makes sense....

    The ring I want has a very, very small sapphire (and I believe it's a lab-created sapphire, at that). No diamonds at all. It's white gold, which is pretty much my only "splurge", and only because I hate yellow gold (looks tacky to me).

    My thing is: why would I want something super expensive and super flashy drawing attention to me? Women who carry designer bags and deck themselves in pounds of expensive jewelry are just screaming to be accosted and robbed, IMO. I'd rather keep it simple and low key. If I don't look like I have money, I'm not likely to be targeted for it.
    Two opposite perspectives from two wealthy women we know.

    One is the trophy wife of a billionaire of a family of billionaires. While they buy exorbitantly expensive toys and otherwise spend money on themselves - and the wives too. However, she and the other women only wear simple gold wedding bands to show they are married and thus unavailable. The family believes that wearing expensive jewelry would be no different than just hanging baggies full of hundred dollar bills and thousand dollar savings bonds around their necks. In short, would be arrogant and tacky.

    The other is a very wealthy older widow who falls well into the category of a millionaire, but not of the super rich. She wears an extreme amount of very high dollar diamond jewelry - every finger, around her neck and broaches - that her deceased husband gave her. She said there is no reason to just to keep it locked away in a safe deposit box and there is so much no one believes its real - so just see her as some nutty old woman wearing gobs of costume jewelry as she walks in public openly wearing a million dollars worth of diamonds and gold.

    I have no jewelry of any kind myself and my wife only wears a tiny gold cross around her neck, although she does have some costly and inexpensive sets of earrings for special outings.
    Last edited by joko104; 09-27-12 at 10:10 AM.

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    Re: Diamond prices to crash - Trillions of carots found

    Quote Originally Posted by joko104 View Post
    Russia has announced they have a 62 mile wide ancient crater with TRILLIONS of carots of diamonds by a massive meteorite hitting a graphite deposit.

    Russian asteroid crater revealed to be filled with over $1 quadrillion of diamonds | Technology News Blog - Yahoo! News

    Remember all the "invest in gems" ads recently?
    I see no reason why diamonds are the same value as any other precious rock. Mostly it's all controlled through the diamond companies anyway and not through market force.
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    Re: Diamond prices to crash - Trillions of carots found

    This is why I have never bought gold, someday somebody will find a mountain made of the stuff and gold will crash.

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