• humanplayer2@lemmy.ml
        link
        fedilink
        arrow-up
        6
        arrow-down
        1
        ·
        1 year ago

        I didn’t know it.

        For my enlightenment, can you tell me how a diamonds monetary worth is properly established so I can check if I’m to pay overprice?

          • PickTheStick@lemmy.world
            link
            fedilink
            arrow-up
            2
            ·
            1 year ago

            Don’t forget that there used to be literal assassins that would kill you if you tried to sell (as a retailer, obviously the resale by individuals was so small-time they didn’t care and hard to track) under the price you were told to sell it.

        • veroxii@aussie.zone
          link
          fedilink
          arrow-up
          8
          ·
          1 year ago

          You as a normal person can’t really sell a diamond for anywhere near the price it cost you. Even though almost nothing can damage them.

          Gold has a spot price and you can generally sell gold to a jeweller for spot minus a small margin. Not so for diamonds.

          • GreyEyedGhost@lemmy.ca
            link
            fedilink
            arrow-up
            2
            ·
            1 year ago

            The short answer is, diamonds are controlled by a cartel with literal warehouses of diamonds kept off the market to maintain artificial scarcity, compounded by very successful marketing to increase the perceived value above actual value, raising demand. If you are buying new diamonds, you are always paying too much, although how much extra varies.