Diamonds are a scam!

AllAboutTheBenjamin

Okay - I've hesistated posting this, since it's an incredibly long article AND, the article is also nearly 30 years old.

http://www.theatlantic.com/magazine/archive/1982/02/have-you-ever-tried-to-sell-a-diamond/4575/

But, who better to discuss this issue but my favorite wedding slores?

A FB friend of mine shared this article a few days ago, the basic premise of it is that the idea that diamonds are a rare commodity and a symbol of "forever" is just a cleverly crafted marketing campaign.

Thoughts?

maratea

Diamonds are sparkly and look pretty on my hand. That's all I care about.

anna.oskar

If the movie Blood Diamond is 95% true (I left off 5% for Leo's dreadful accent) then I totally believe this article (i did just skim)

The whole "forever" thing IS just a marketing campaign although a clever one.  Now diamonds are considered status symbols and are desired regardless of value.  i know people who NEED a diamond for their e-ring.  Even if all they can afford is a poor quality one.

arwo

This is a P&R, but:  I don't wear diamonds (my e-ring is all sapphire), for a couple of reasons; that marketing campaign is one of them. More importantly, I don't find diamonds all that pretty, so they aren't worth the exorbitant price to me. I like colored stones! I don't mind when other people have diamonds, they just aren't for me.

The center stone in my e-ring is pretty, and rare, and unique, and cost less than half of what a diamond of the same size would have cost.

AllAboutTheBenjamin

Mara I agree - the guy who posted this article, before I got engaged, got into it with me about diamonds once.  He was like "oh I'll just get my future wife a sapphire or something," and I told him that was fine but just make sure she doesn't want a diamond!  Because I'm a diamond girl.  I don't really care if they're a marketing scam or whatever.  They're pretty!

maratea

Can I make a confession up in here? I would almost prefer that my e-ring be my birthstone - peridot - instead of a diamond. However, I do love my e-ring and I will never replace it.

Celles

We talked about this in my IB economics class, which was ... forever ago. ;.;

My econ teacher used it to demonstrate the supply side of supply and demand. Deliberately limited supply + high demand (largely due to marketing and "tradition") = OMG!expensive, basically.


I still like my rings, though.

MRSBJS

I didn't read the whole thing, but I think it's an interesting theory...

But then at the same time, diamonds aren't really "scarce" in my opinion. You can buy them everywhere, and have no trouble finding them. There basically just aren't "big" diamonds anywhere (like, Hope Diamond big).

The theme of the article (what I read) sounds to me like the whole "Valentine's Day is a holiday made up by HallmarK" sort of party-line.

vegasgroom

The price of engagement rings are artificially inflated by the fact that most guys would not think to buy a 'used' ring and many girls would judge them if they knew they were getting a used ring.  Guys that do some research and buy the stone wholesale and then have someone mount it can save quite a bit.  The ring/setting is typically worthless if you were to go sell the ring; if the diamond is certified by a recognized authority, typically you can get at least wholesale for it, which if that's what you paid to begin with means you won't lose too much.

I do get a kick out of the jewelry exchange commercials where they 'guarantee' your ring will appraise for double what you paid for it.  Um yeah, appraise it will, tell me when you find someone that will buy it at the appraised price.

anna.oskar

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_diamonds-scam?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:3c7336a1-54f3-4b4f-a762-cbf094cdd72cPost:f90e6ac9-845f-4707-bf8d-c5fc66e86980">Re: Diamonds are a scam!</a>:
[QUOTE]Can I make a confession up in here? I would almost prefer that my e-ring be my birthstone - peridot - instead of a diamond. However, I do love my e-ring and I will never replace it.
Posted by maratea[/QUOTE]


Mara, i totally would have loved a peridot e-ring!  best gem ever!  However, i do love the rainbow of colors my diamond has when the sun hits it.  Plus, my H picked it out all by himself and i think he did a damn fine job.

AllAboutTheBenjamin

Arwo - you posted your e-ring a while ago on A&A and I remember it so well because it was so unique and gorgeous!  I love colored stones, too.  But I'm definitely a diamond girl when it came to my wedding ring!

I love emeralds, and amethyst - amethyst is my birthstone.  I love sapphires, too.  I wear an alexandrite ring on my right hand, that I got from my mom when I graduated high school.  I love how it changes color (purple, blue, green) depending on what lighting it gets.

ETA - OH and TANZANITE.  My mom has a couple tanzanite pieces of jewelry and I'm competely obsessed with them.  And opals!

maratea

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_diamonds-scam?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:3c7336a1-54f3-4b4f-a762-cbf094cdd72cPost:f887a10d-0c00-445e-8db4-021391c860d6">Re: Diamonds are a scam!</a>:
[QUOTE]The price of engagement rings are artificially inflated by the fact that most guys would not think to buy a 'used' ring and many girls would judge them if they knew they were getting a used ring. 
Posted by vegasgroom[/QUOTE]
Ha! My wedding set was previously owned, and the e-ring was slightly bigger than the wedding ring. The person who sold the set to the jewelry store broke off the engagement... and never had the chance to wear the wedding ring.

AllAboutTheBenjamin

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_diamonds-scam?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:3c7336a1-54f3-4b4f-a762-cbf094cdd72cPost:cd2e6100-dc1d-472c-a616-24c274cd6a02">Re: Diamonds are a scam!</a>:
[QUOTE]In Response to Re: Diamonds are a scam! : Mara, i totally would have loved a peridot e-ring!  best gem ever!  However,<strong> i do love the rainbow of colors my diamond has when the sun hits it.  Plus, my H picked it out all by himself and i think he did a damn fine job.</strong>
Posted by anna.oskar[/QUOTE]

I love that, too.  I still stare at it, especially when I'm in the sunlight.  It just amazes me, all the colors and stuff.  And I love that Ben picked it, too.  It was so important to him that he got me that diamond, and just... ah.  Sigh.

LessThanZero

Everything is a clever marketing campaign. The fact that we're all posting here on a message board aimed at wedding planning (a multi-billion dollar industry) is part of a marketing campaign. We're in it right now.

This is like the Inception of wedding forums.

anna.oskar

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_diamonds-scam?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:3c7336a1-54f3-4b4f-a762-cbf094cdd72cPost:943c951b-d897-4f9f-a7aa-1c2730afd113">Re: Diamonds are a scam!</a>:
[QUOTE]Everything is a clever marketing campaign. The fact that we're all posting here on a message board aimed at wedding planning (a multi-billion dollar industry) is part of a marketing campaing. We're in it right now. This is like the Inception of wedding forums.
Posted by LessThanZero[/QUOTE]


Well I'll show them.  I REFUSE to plan a wedding.

maratea

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_diamonds-scam?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:3c7336a1-54f3-4b4f-a762-cbf094cdd72cPost:943c951b-d897-4f9f-a7aa-1c2730afd113">Re: Diamonds are a scam!</a>:
[QUOTE]Everything is a clever marketing campaign. The fact that we're all posting here on a message board aimed at wedding planning (a multi-billion dollar industry) is part of a marketing campaing. We're in it right now. This is like the Inception of wedding forums.
Posted by LessThanZero[/QUOTE]
You're like the Oracle in The Matrix.

MRSBJS

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_diamonds-scam?plckFindPostKey=Cat:Wedding BoardsForum:17Discussion:3c7336a1-54f3-4b4f-a762-cbf094cdd72cPost:b7e779f5-947f-4fcc-a898-4df4b3c183c3">Re: Diamonds are a scam!</a>:
[QUOTE]All of what Anna said. I have to hand it to DeBeers.  I don't like them, but they know their stuff.  The way they made a diamond such an iconic image is really quite amazing.  If you read books before the 1930s, engagement rings were all sorts of things, but DeBeers managed to take an entire market and skew it towards one stone. <strong>Diamonds for industrial use</strong> don't have anywhere near as high value.  Granted they're not good quality, but it's still diamond, just not the image of the diamond we think of today.
Posted by rhonwynv[/QUOTE]

What does that mean?

vegasgroom

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_diamonds-scam?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:3c7336a1-54f3-4b4f-a762-cbf094cdd72cPost:943c951b-d897-4f9f-a7aa-1c2730afd113">Re: Diamonds are a scam!</a>:
[QUOTE]Everything is a clever marketing campaign. The fact that we're all posting here on a message board aimed at wedding planning (a multi-billion dollar industry) is part of a marketing campaign. We're in it right now. This is like the Inception of wedding forums.
Posted by LessThanZero[/QUOTE]

In the case of TK it's extremely clever since their forum software sounds like it's been horrible forever yet somehow it grew anyway and now it's too big to leave.

xyrius

I personally would not have had a problem with a used engagement ring, but I'm happy with what I have.  I think diamonds are pretty.

vegasgroom

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_diamonds-scam?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:3c7336a1-54f3-4b4f-a762-cbf094cdd72cPost:716b54b4-96ee-4615-acd2-49ef9b49b519">Re: Diamonds are a scam!</a>:
[QUOTE]In Response to Re: Diamonds are a scam! : What does that mean?
Posted by MRSBJS[/QUOTE]

Many cutting tools are made with very very small diamonds or coated in diamond dust due to the resistance to wear and ability to withstand high heat. 

JenGin74

I'm not really a big jewelry person, but I do catch myself staring at my rings from time to time. I get sucked in by the shiny prettiness.

Scam or no, sparkly makes me happy.

MRSBJS

Thanks guys!

It was probably a stupid-question, but I'm reading that over and over going "I have no idea what that means" lol

LessThanZero

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_diamonds-scam?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:3c7336a1-54f3-4b4f-a762-cbf094cdd72cPost:6d70427e-7dd0-4a0c-8096-3657ab921cdc">Re: Diamonds are a scam!</a>:
[QUOTE]In Response to Re: Diamonds are a scam! : You're like the Oracle in The Matrix.
Posted by maratea[/QUOTE]

Haha. I'm going to take the blue pill now.

kd.joseph

My DH did months of research before he bought my diamond. And he let the person he was dealing with know exactly what he was looking for in a diamond.

As far as the setting, I had picked out an inexpensive palladium setting way before he even started his search. I love my ring, and wouldnt trade if for anything! I'm with you AATB, I'm a diamond girl all the way. I love it when we are just sitting watching tv or something, and I'll catch DH staring at it, he just says "Its so shiny!"

anna.oskar

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_diamonds-scam?plckFindPostKey=Cat:Wedding%20BoardsForum:17Discussion:3c7336a1-54f3-4b4f-a762-cbf094cdd72cPost:73130a8e-6408-414d-8faf-16c5d08c9f80">Re: Diamonds are a scam!</a>:
[QUOTE]In Response to Re: Diamonds are a scam! : Haha. I'm going to take the blue pill now.
Posted by LessThanZero[/QUOTE]


Whatever.  There IS no spoon.

specialk84

I think the hype is a bit ridiculous, but I love my diamond ring.  I wouldn't be opposed to colored gems (I love rubies, emeralds and sapphires), but this little voice in the back of my mind keeps getting all worked up about the stone not matching my outfit.  Then again, the little voice in the back of my mind is weird.

OBX2011

AATB--I too love tanzanite, it's so different.

I'm with you Mara...it looks really sparkly on my hand and since I'm left handed, I can gawk over it while driving down the road.

Just like P. Diana's ring that Kate M. now has....every jeweler out there is making replica's now and I know they say "imitation is the best form of flattery" and all but I don't think I would be flattered knowing women around the world had my same ring.  Of course jewelry stores make the same rings over and over and for all I know, one of you could have the same ring I do, but since P. Diana's ring is so special duplicating hers is a no-go for me.

TurtlesAllTheWayDown

On the one hand, yeah, prices have been inflated by DeBeers, who have also done lots of other horrible things. I felt conflicted about diamonds, but ultimately decided on a vintage ring (so a used one!) for several reasons, the diamond industry being one of them. I like my birthstone (emerald) and my mom actually has an emerald e-ring (for her second marriage) but diamonds are colorless and just... go with everything.

On the other hand, something is technically "worth" what someone is willing to pay for it, you know?

K&J64

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_diamonds-scam?plckFindPostKey=Cat:Wedding BoardsForum:17Discussion:3c7336a1-54f3-4b4f-a762-cbf094cdd72cPost:943c951b-d897-4f9f-a7aa-1c2730afd113">Re: Diamonds are a scam!</a>:
[QUOTE]Everything is a clever marketing campaign. The fact that we're all posting here on a message board aimed at wedding planning (a multi-billion dollar industry) is part of a marketing campaign. We're in it right now. <strong>This is like the Inception of wedding forums.
</strong>Posted by LessThanZero[/QUOTE]

Ha! It is.

On the diamond topic, they are marked up for retail, on average, 400%.

400%!!!!

That being said I think it's sad when people go to big box jewelry stores that cannot and will not negotiate price because of that. You're willingly overpaying for them. I think the only way to buy a diamond (especially for an engagement ring - which gets market up even more than the same stone would be in say an earring or necklace) is loose from an independent jeweler who will make the ring for you.

The idea of a Tiffany's engagement ring is the biggest waste of money I've ever heard of. First you overpay for a diamond, then for a pre-set ring, and then for a little blue box with a white ribbon. I would actually want J to take it back if she got my ring from there, and I love Tiffany's. I just couldn't justify wearing something I know cost way more than it was worth.

AllAboutTheBenjamin

OBX, I actually read (yesterday!) that Diana's ring is not a unique design.  She picked it from the then crown jeweller Garrard's collection, also because her own mother's engagement ring was a sapphire.

My mom has a Swarovski ring that is smaller to the "Diana" ring, but it's pretty much the same design.  She got it before the engagement of William and Kate, and before the entire replica sensation.

missy68

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_snarky-brides_diamonds-scam?plckFindPostKey=Cat:Wedding BoardsForum:17Discussion:3c7336a1-54f3-4b4f-a762-cbf094cdd72cPost:ee53cdc8-130d-4dd2-888f-df52fd0e9de1">Re: Diamonds are a scam!</a>:
[QUOTE]This is a P&R, but:  I don't wear diamonds (my e-ring is all sapphire), for a couple of reasons; that marketing campaign is one of them. More importantly, I don't find diamonds all that pretty, so they aren't worth the exorbitant price to me. I like colored stones! I don't mind when other people have diamonds, they just aren't for me. The center stone in my e-ring is pretty, and rare, and unique, and cost less than half of what a diamond of the same size would have cost.
Posted by arwo[/QUOTE]


'Tis one of the main reasons I went with sapphires (along with wedding month, groom's birthday month, and different). There are diamonds in each ring, but they are small. Sapphires are the main stones.