diamonds are so pointless

diamonds aren’t even rare. They are plentiful. If it wasn’t for de beers buying all the mines and controlling the supply they would be like topaz and be cheap. It’s such a scam. Plus they are a terrible investment. They lose value.

my engagement ring is a sapphire. I didn’t care if was natural or lab grown but dh wanted a real one 🙄. I’m a scientist on an atomic level they are identical to me. So I don’t see the point in natural. But anyway, it does have 2 small diamonds in it because it’s hard to find sapphires without the diamonds.

Thank you. I'm older and it's not some huge rock. It was around a thousand pounds 30 years ago so hopefully it's real.

Jewellers cannot tell them apart with the naked eye, no. But they can with specialised equipment which detects the presence of nitrogen (mined diamonds contain traces of nitrogen, lab created ones don’t) and can detect minute differences in the way mined and lab diamonds reflect the spectrum. And I agree that the ethics don’t favour diamond mining, but that’s said from a first world point of view. Not so easy to brush it off when your livelihood depends on it.

Agree, the replacement the price will be high but that's because they're assuming you will buy new. It's the equivalent of buying a sports car, once a diamond ring is "off the forecourt" it loses a lot of value. I think many people don't realise this.

And it is true that the market value of diamonds is reducing each year due to lab grown diamonds:
https://fortune.com/2023/09/03/diamond-demand-falling-lab-grown-stones-de-beers-cutting-cutting-prices/

Jewellery valuers are advising people to get a new valuation at least every couple of years to avoid the risk of being overinsured.

I've been married for 20 years and my diamond engagement ring was a 1930s antique. What should I do, throw it in the bin to be ethical? Pfft.

As jewellery I agree. Same could be said for expensive watches.

To be fair, they are actually quite pointy 😉

@MitskiMoo
It's all personal choice. People cans and should have whatever they want. It's always worth doing some research before you buy anything expensive.
I love sapphires but prefer not heat treated or chemically treated ones.

I know this thread has been going a while bug what is the thinking on coloured stones? My engagement ring is a sapphire.

I remember as a child the first time I saw a diamond, being crushingly disappointed - I had thought they would be glorious, instead of just white and boring!

They're valuable thanks to advertising- "a diamond is forever"

I don’t think most folks buy it as an investment, more a heirloom or engagement ring, my engagement ring for insurance purposes has increased in value, for replacement, but it’s always been the case second hand for some stones is reduced, it depends on the quality.

value isn’t decreasing due to costume jewellery, it never will or has.

It is just how historically rich people used gold, precious stones and various minerals of lower value to keep and store wealth, rather than just giving them to women to wear

People mistakenly think diamond rings are an investment but the resale value of a new diamond ring is a fraction of what you pay for it. The value of diamonds also reduces every year because of the rise in lab grown stones.

I think it's a shame so much money is wasted on this, especially considering the environmental impact, but I feel the same about sports cars. If you want to spend your money on that then more fool you I guess.

@FinalCeleryScheme
Jewellers cannot tell mined and lab diamonds apart

You average high street Jewellers might not be able to but, if you have the right equipment and training you can. It's a changing science though as the science behind the manufacture and testing of lab grown diamonds develops.

Diamonds are crystalline carbon with their atoms in a particular lattice . If it's crystalline carbon in that form then it's a real diamond, no matter how it was created.

However, I like the sentimental appeal of naturally grown diamonds - it's like preferring to own a prop that was actually used on screen in my favourite movie rather than an identical replica made at the same time in the same factory. Both are physically the same, but one has a history that appeals to me.

I like second hand/antique diamonds - both to sidestep the ethical conundrums and because of the additional history. After all the indestructibility is the whole point of diamonds. That's why De Beers had to work so hard to establish the appeal of new rings that you keep and never sell, because a good second hand market would be disastrous.

The diamond industry and price of diamonds is fascinating. I'm glad I never considered the ones I bought as an investment. I bought them because they are so pretty. I value the origin of my diamonds (Australian and Canadian) but I would have chosen lab grown if they were an option at the time.

See my answer to Lovelysausagedog.

Jewellers cannot tell mined and lab diamonds apart.

You can play tennis, have a diamond ring and work hard doing manual work, plenty off people do. 🤔

I'd say a diamond ring isn't a bad choice for a manual worker as it can be far more durable than other jewellery. I almost never take mine off. It's platinum and designed to be strong.

Going into debt for jewellery is daft though.

The price is different because the mined diamond market is rigged. It’s also partly artificial because of the success of the ‘a diamond is forever’ persuasion.

Jewellers cannot tell them apart. That’s not true.

I’ve never heard of insurance difficulties. But if they do exist it’s because, again, the mined market is artificial: the insurer would be reflecting a difference in value that’s unreal.

The ethics do not favour diamond mining!

If history matters - like buying a gem owned by a monarch or a film star - you’re out of the precious stones market and into the auction house memorabilia market, along with dresses, guitars, medals and the like. If the setting is important, that’s the craft, not the stone.

If you think indistinguishable diamonds are worse because they’re not part of a bogus market, more fool you. All diamonds are readily available: they can be made in a lab.

And as for engagement ring maths...lol!
I'd rather go into marriage not being in debt than blow it all on a silly diamond. Didn't marry a super rich man but he pulls his weight. Proud to have "calloused hands" from working...some of us like to contribute to society outside the home.
I'd hate to be part of the tennis club set.

I think the best use for diamonds is a cutting tool....hardest material on earth right?

I do love sparkly stones such as crystals but I know they are mined so it takes the shine off somewhat.

Why do engagement rings need to be " substantially expensive?"
Mine is stunning and was £40 from Greece. Silver and opal. Im not to be bought and if I lost it , it would be awful.

I’m afraid it isn’t. A jeweller can tell the difference, which immediately tells you it isn’t the same. and a real diamond is a natural stone created over millions of years, a fake one, is one man made in a short time frame, so the cost reflects this.

Not exactly. The conditions under which diamonds are created naturally are recreated in the lab. Except that it takes a few months rather than millions of years. There is a significant difference in price, reflecting the difference between a lab grown and a naturally occurring one - they are not so chemically identical that a jeweller cannot tell the difference. And unlike natural mined diamonds they depreciate in value because they’re readily available. You may also have difficulty insuring them as stand alone items on home insurance policies. Then there’s the ethical dilemma of taking away the income generated in third world countries by the diamond industry.