Why are gems/diamonds valuable?

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Jul 10, 2011
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In an age where we can literally grow gemstones which are almost identical (generally superior, in fact) to the "real thing", why do people still consider them valuable?

With the little lady and I talking more about marriage, I've been on a personal anti-precious-stone kick lately. I've heard all sorts of things, from artificial supply on behalf of DeBeers, to the idea that marketing is the sole reason for their value, etc.

99% of people I've spoken to about this basically call me a cheap asshole. But for me, it's not an issue of affordability so much as the principle behind the issue. The money could otherwise go far in so many circumstances, yet there's so much social pressure to buy a useless rock which won't go... anywhere. (And which may or may not have real scarcity-based value.)

I'll admit that I've bought a few diamonds in the past, but I don't know if I can justify the purchase in the future.

What's your opinion on the topic in general?

koohoiyan.jpg
 


It's been ingrained into women's minds since the day they were born that jewelry should be real. Her mother had a real gem, she's seen every other woman with real gems, so she should have a real gem as well.

She may say she doesn't care about the ring, but she does. This is a test and you are failing. Why give her one more thing to hold over your head for the rest of your short marriage?
 
You've purchased a few diamonds in the past, but when it comes to a diamond marriage ring you're questioning the purchase?
 
Nothing. Same as, what makes gold so valuable? Nothing.

What the fuck would I ever do with a few bars of gold? Absolutely nothing, except sell it, because other people think it's valuable. Same goes for precious stones. Same type of thing as people who love to buy antiques. No actual value, but they can sell for millions.
 
mGrunin said:
You've purchased a few diamonds in the past, but when it comes to a diamond marriage ring you're questioning the purchase?
Click to expand...

I'd imagine--and this is totally just speculation here, so don't get too frazzled if I'm wrong--that a diamond ring might have more carats to it. So there's--theoretically, of course--a slight difference.*

There's also the whole principle of the matter being amplified given the context.

* Just my opinion.
 
Kiopa_Matt said:
Nothing. Same as, what makes gold so valuable? Nothing.

What the fuck would I ever do with a few bars of gold? Absolutely nothing, except sell it, because other people think it's valuable. Same goes for precious stones. Same type of thing as people who love to buy antiques. No actual value, but they can sell for millions.
Click to expand...

Well I admit that I know next to nothing about precious metals and metallurgy and such, but we cannot create artificial gold and silver while we can create artificial diamonds. I guess the metals could be mined out in the future.
 
I am actually working on a diamond site and from what I am learning it's the type of diamond, cut, clarity, etc.. that makes it so valuable there are diamonds that are not worth very much but for the most part diamonds are the most concentrated form of wealth due to the fact that there is a long tedious process to refine and mine a diamond plus the ring and upsell process because wealth is assumed to go with fine jewelry.

Hope this helps some clarification on the matter.

Also our business is based around buying diamond rings after the divorce and apparently there are over 1 million divorces a year so I wouldnt advise spending a lot on the engagement ring and jewelry unless you honestly feel that its worth it.
 
they are valuable due to their rarity, you can make 1000's of them in a lab, but there are only so many at this very moment that can be mined. Rarity.
 
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