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I bet there still over priced.
No, I bet they are.
26% down from a wildly inflated peak isn’t all that earth shattering tbh.
However the growth in popularity and price drop with synthetic diamonds - that’s what’s newsworthy here.
In the land of ever increasing red line, any stagnation is bad, any drop is catastrophic.
It’s clearly beginning of an end for diamond mining.
We’d much rather spend money on fabulous vacations or boring mortgages.
Bottom falls out on commodity made artifically rare through imperailism and corruption. Is this the part where I’m supposed to feel bad for De Beers?
The free market manages to solve a problem.
I wonder how much money it’s going to cost the diamond lobby to un-solve it.
To be fair, diamonds are indeed rare on earth. But what made diamond price come crashing is because we now managed to synthesise the diamonds. These “fake” diamonds flooded the market. This is good news so that we don’t have to rely on exploitative extraction of the mineral.
They’re not especially rare, not even gem-quality ones. For several generations, almost every married woman in a western country had a diamond on her finger of some size. They found plenty of them to serve that market. The mines created artificial scarcity by colluding together.
If lab grown had never happened, diamond mines might not have been able to serve industrial customers. Industrial customers don’t care how it looks as long as it cuts, and so lab grown has been good enough for decades. Thus, you can get a two-pack 4.5 inch diamond angle grinder wheel at Home Depot for around twenty bucks.
Also because newer generations just aren’t sold on diamonds being a luxury item anymore. Your average Joe just isn’t paying their rent or more on a diamond engagement/wedding ring like they used to because, well, that’s their rent payment or mortgage for something that’s gonna lose value the second they walk out of the store.
Good. Hope the whole industry goes bust.
Thank goodness, maybe I’ll finally be able to buy a diamond pickaxe for what few emeralds I have. I’ve been having to use stone tools in this economy and I’d really like some obsidian for a nether portal.
if you want to go to hell, just wait.
I’d really like some obsidian for a nether portal.
Water and lava buckets, you peasent
They said they were using stone tools. You think they’d have spare iron lying around for a bucket?
Name checks out…
I’d buy more diamonds, but I spent all my money on avocado toast.
Finally, rocks might be worth what rocks are worth.
I respect jewelers and stonesetters as an art, but the rock itself has negative value in my eyes.
There’s nothing wrong with orderly carbon. There’s more than a few things wrong with Debeers
Literal monopoly company should have been banned from imports to the US dozens of years ago.
yeah, like the heat conduction thing is super cool, and the ability to scratch literally anything, while not particularly useful, is still pretty neat
I bet once diamonds get cheap enough CPU manufacturers will start using them as heat spreaders on their high end chips
Scratching things is super useful. We have so many tools based on exactly that principle
Yes, there just isn’t all that much use I would get from it personally, and I think diamond tools are already not all that expensive.
The rock is quite useful as an industrial tool. It’s when you cut it in to a fancy shape and wear it that it’s pretty useless.
We use diamonds to test the hardness of materials, grind really hard things smaller, orient and locate specialized cutting tools, and cut through really hard things. Hell we sell garnet by the barrel to help cut through regular materials. Orderly carbon or, in many cases orderly aluminum oxide, is something we need a lot of. The price going down on those is actually good for manufacturing.
But the industrial rocks are 90% manmade, the stonesetter diamonds were mined with slave labour or close to it, and people probably died for them.
I own twns of thousands of diamonds. most of them are embedded in metal plates and I use them to sharpen chisels. A few are on little wheels I use to cut steel.
Nothing says “I love you” like a detonation nanodiamond
i never understood why a mined diamond has a bigger value than an artificially made one when the only difference is the suffering of the workers. ppl who like diamonds are stupid.
The first thing DeBeers tried was “artificial diamonds have imperfections, you want a real rock that’s selected to be as perfect as possible”. Then the artificial industry made diamonds so good that you could only tell the difference from the lack of imperfections. Then DeBeers marketing changed to “it’s too perfect, you want something that has the small imperfections of a natural process”.
The suffering is the point
Yup. It someone wasn’t killed for it, it’s less valuable.
Or dismembered by militia for not working fast enough
There is this idea that seems to be really pervasive that natural is always better. And it’s not true so often. A common example I like to give is that natural almond extract contains cyanide and artificial almond extract does not. No, it isn’t enough cyanide to kill you, but I would say no cyanide is better than some cyanide.
And a lot of those “natural is always better” people would happily take fentanyl over willow bark if they were in agony.
I think a better analogy would be oxycodone or hydromorphone over opium but your point stands
Another aspect of this is that “natural” things like supplements are not usually “naturally occurring” but rather highly refined.
Snake venom is natural 😊
Indeed. As is arsenic. You can even find it in water supplies (especially in the U.S., where there are “acceptable” levels).
Same reason diamonds are valued in the first place. Marketing campaigns tricking the gullible majority and most of the rest conforming to not stand out and cause issues for themselves.
Diamonds do make sense as gemstones because of their hardness. They’ll stay scratch free for life. But ya, the diamond industry is garbage.
Maybe, but realistically, most jewelry will have them inlaid in gold anyway, which is not hard at all. So you need to take care not to scratch it regardless of what gem is used.
Also, many other gems are harder then steel which is about the hardest thing your jewelry would come into contact with.
So I would say the benefit is minor.
They’re too common to be truly valuable, though, and that’s before factoring in that you can just make them now.
For a long time (and maybe still currently I don’t know) they weren’t able to make diamonds bigger like people want. So for a small diamond it might not make any sense, but there was a point where ones we made weren’t meeting what people wanted.
synthetic diamond sizes keep getting bigger, but it is much harder to make them I think
As of 2023 the heaviest synthetic diamond ever made weighs 30.18 ct (6.0 g); the heaviest natural diamond ever found weighs 3167 ct (633.4 g). Wikipedia
That would be 1.7 vs 181 cm3
Well, if they’re getting that big, that’s big enough for a lot of jewelry now.
Yes, I would imagine that size would be comically large for like a ring or something
Fucking young people and their… lack of money!
Seriously! Fucking bums! Just borrow a few million from your parents FFS
Good. Fuck rich people.
You know, it must be that food and rent are a bit higher priority than the pressure stones… especially when more and more people cant afford those… food and rent i mean.
I find the thought funny … propose to your love with a hamburger instead of a ring…
I made her pancakes :)
A hamburger? My wife is worth a high end porterhouse for sure.
Not just murder. Mildly premium murder at the very least.
Lab-grown rocks
When I was getting married a few years ago, I remember thinking fuck real diamonds lab-grown are literally the same thing. I remember getting some push back from some weirdos about how “real” diamonds are some how better or how people will think I’m a cheapskate or how people will feel bad for my wife…
Well, fast forward a few years and literally nobody cares, thinks about, or has said anything negative about my wife’s ring. We are both 1000000% happy and satisfied with the decision to buy lab grown.
We said fuck diamonds entirely, even lab grown, and even had to go out of our way to find something that didnt have diamonds on it somehow
Fucking noice, dude. 👏 Honestly, yeah, why even diamonds. They brainwashed us good.
Women love diamonds for their wide range of industrial applications.
Like making pickaxes and mining obsidian?
it’s actually a quote from Portal, or marketing material thereof.
Mostly because they dont get scratched. Theyre pretty neat. Not blood diamonds though, those are a crime against humanity.
I got us bare tungsten carbide bands. If “Diamonds are forever”, then tungsten carbide is 9.5/10ths of forever, and it’s the whole band instead of just a small easily-detachable part of it. More practically, it won’t get beat to hell like the white gold ring from my first marriage. Plus, if I ever need a really strong connector for jury-rigging something, I’m now carrying one with me at all times!
Tc won’t scratch, but it is brittle though.
So are diamonds, but hey - don’t pollute my symbol with your facts! As far as romance is concerned, hardness == durability, end of story :P
We have tattoos.
When it’s time for children I recommend lab grown as well!
fuck children too
please don’t
Why don’t you have a seat right over here.
username checks out.
Username checks out
We decided on some cheap silver rings. We really didn’t want to carry around something extremely valuable everywhere. Go swimming and lose 5000€ in the lake? Do some yard work and lose your diamond ring there? Getting mugged and the robber is getting something really expensive? No, thank you.
Expensive wedding rings & jewelery did make sense in the past when women were not allowed their own money, bank accounts etc. as a way to escape an abusive husband. Pawn your expensive wedding ring, get cash for the getaway. But we’re not living in the 50s, my wife has her own bank account, is earning her own money, so no need for something like that.
We did the same. Some silver bands from a local artist.
Paid off when one was lost. The artist was still available for a new order.
We decided on some cheap silver rings. We really didn’t want to carry around something extremely valuable everywhere. Go swimming and lose 5000€ in the lake? Do some yard work and lose your diamond ring there? Getting mugged and the robber is getting something really expensive? No, thank you.
Yeah, on a similar note it is really nice to finally have a new phone, but I’ll miss the fact that losing my old phone would only set me back $50.
I gave my wife an engagement ring with natural diamonds, but it belonged to my great-grandmother who died in the 1940s, so I didn’t feel that there was an ethical issue.
I’ve unfortunately lost my wedding ring in palladium. My wife is planning to offer me a new one but this time I want a steel ring made by a local jeweler.
Not because it is cheaper but because I am using my money in the right place.
Precious metal/stones is a social flex saying “Look ! I can afford the labor of X African slaves that have worked in the mine to extract this mineral” (plus the ecological impact of mining)
I’d rather spend money to buy the labor of a local artisan than buy African slave labor through a myriad of intermediaries
Same. My SO’s ring looks great and easily looks 20 to 50x what it actually costs. We get to spend the savings on a honey moon with no compromises.
