Essentially, diamonds are not worthless, just like gold or any other precious metal. That being said, what makes them so very expensive is simply market value: supply and demand. What makes one diamond worth more than another is it’s cut, clarity, color, and carat.
Are diamonds essentially worthless?
Diamonds are intrinsically worthless: Former De Beers chairman (and billionaire) Nicky Oppenheimer once succinctly explained, “diamonds are intrinsically worthless.” Diamonds aren’t forever: They actually decay, faster than most rocks.
Why are diamonds not worth anything?
Another expert and financial planner, Ed Snyder, explained, “Retailers mark [diamond rings] up so high, they depreciate as soon as you walk out of the store.” … Much like a car that depreciates as soon as you drive it off the lot, diamond rings don’t hold on to their value.
Are diamonds really precious?
Diamond is one of the best-known and most sought-after gemstones. … Other characteristics, such as presence or lack of fluorescence, also affect the desirability and thus the value of a diamond used for jewelry. Diamonds are used in engagement rings.
Do all diamonds have flaws?
Diamond flaws are common. Few diamonds are perfect; most of them have inclusions or imperfections. These inclusions are also known as flaws and exist in various forms, such as exterior and interior.
Are diamonds unethical?
While diamonds have long been associated with some of the happiest days of one’s life, they can also be the source of so much suffering for others. From human rights abuses and blood diamonds to habitat destruction and water pollution, the truth is that diamond mining is a messy business.