>Diamonds cannot be resold.
I wasn't aware of this. What's the rationale?
Try the classic "Have you ever tried to sell a diamond?" article:
https://www.theatlantic.com/magazine/archive/1982/02/have-yo...
Re:Diamonds Keep Getting Cheaper
by sbierwagen on Wednesday November 13, 2019 @04:17PM
(#21529679)
They can be sold of course, but you'll get back maybe 50% of the purchase price.
Superstition that wearing someone's wedding ring is a bad luck. Probably was similarly manufactured to keep higher demand for diamonds.
More that the people you would take it to have way too many already, and would love to unload them on the next pigeon.
I have got some mileage out of characterizing mined diamonds as symbolizing south-African slavery. At least, my wife didn't want one.
>Diamonds cannot be resold, the money may as well have been burned
I wonder how much money you'd have to actually burn to extract enough carbon to create a decently sized diamond from it
Nothing like what they cost.
Paper is, what, 44-50% carbon by weight? Imagine a ring with the weight of even a small stack of bills.
It wasn't long ago that the paper was worth more than the rock.
But if you burn it, you lose the carbon. Char it instead.
Re:Diamonds Keep Getting Cheaper
by smegger001 on Thursday November 14, 2019 @01:14AM
(#21533196)
Paper was valuable enough at one point it was considered the traditional gift for first anniversaries in the U.S.
Re:Diamonds Keep Getting Cheaper
by dan-robertson on Thursday November 14, 2019 @05:37AM
(#21534365)
I think the reason that it is the first anniversary gift is that it was not considered valuable (unlike eg silver/gold/ruby/diamond/...)
Gold is famous for holding its resale value; so a gift of gold can in theory be unwound to recover the money spent. It is a signal of wealth.
Diamonds cannot be resold, the money may as well have been burned. It is a signal of wealth and commitment. There is also the added bonus that a diamond is not going to be stolen.