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Data is Beautiful @mander.xyz

Otter @lemmy.ca

2d ago

The falling price of diamonds

33 comments

Does it use less energy to make artificial diamonds, than bitcoins at this point?

Data is ugly. Use the same times to make the % price decrease understandable

Diamonds aren’t that rare. I will always remember a quote from a friend of mine who was a geology major for a while: “Diamonds are the Coors Light of precious gems.”
- What are the exotic/rare stones?
  
  Only one has been found: https://en.wikipedia.org/wiki/Kyawthuite
  Also: https://en.wikipedia.org/wiki/Moissanite#Geological_occurrence
  Found in significant quantities in only 2 places.
  
  I forget, but if you search for a list of rare stones, diamonds are surprisingly far down.

The value of diamonds are falling because people are now getting Netherite gear.

Those poor people at de Beers, next you'll tell me that they've been keeping the price of diamonds artificially high for over a century .. oh wait.
- This shows that there's really only a slight decrease from 2020/21. Considering inflation, that drop in value is even greater, and a good thing, but their monopoly will only be destroyed when the cost of lab diamonds are similar.
  
  Huh? This is per carat. Also lab diamonds are perfect and much better than what you would find. They are now trying to market diamonds that have flaws as better than a perfect diamond. It's really fucking stupid. Before, it was the less flaws they have, the more value. Now with lab diamonds, you need to have some flaws.
  Most of the jewelers in town where I live have closed shop. Lab grown is definitely having a huge overall impact to the cost of diamonds as a whole. Hopefully diamonds will be a thing of the past soon and we can use them for other applications.
  
  You're reading the graph backwards. The lab diamonds have been cheaper for a long time. De Beers made diamonds a fashion statement so long ago that a lot of their marketing tricks are assumed to be just general lore.

The generation-guilt of the millennials stains my hands. I have murdered industries. And I’ll kill again!

Diamond are a stupid tradition imo. They are not that rare.. Man made construct.
- I think paying a fortune for a diamond is a stupid tradition. Im ok with buying diamond jewelry that actually costs what it's worth.
- Man who slaved away in a lab for years trying to figure out how to make diamonds with the power of man: Am I a joke to you?
  
  Oh the science of cracking the formula? Fucking cool man! The bullshit about 2 month salary to tell her you love her? Bullshit.

get fucked translucent rocks!
- Hang on. Don't forget that diamonds are used for cutting, grinding, drilling, and as a heat sink in electronics.
  
  Yeah, they use synthetic ones for that.
- Hey, don't blame the material for the actions of their owner.
  That being said, I have no idea of why people buy diamonds outside of industry.
  They are boring to look at, sure they sparkle, but they have boring colours, saphire, emerald and ruby look way cooler.
  
  Diamonds - ❌ Moissanite - ✅

Diamond Age here we come :)
- There are so many potential exciting applications for diamonds if they become cost efficient. Diamonds are a pretty wonder material, and have tons of potential

The day I don't have to hear about Blood
<insert gemstone here>
ever again will truly be a blessed day. Fuck all the artificially inflated minerals no matter what their compositions.

Wonder if there's correlation to marriage rates, or if its more a "everyone is broke so no one is buying diamond earrings and tennis bracelets anymore" situation.
- Am I foolish to hope people are getting over the tradition, too?

https://www.theguardian.com/business/2025/jan/25/diamonds-lose-their-sparkle-as-prices-come-crashing-down
https://beehaw.org/post/18175881

according to that, natural diamonds seem to have bee pretty much on average holding their value, while lab grown rocks are bottoming out
- Natural diamonds pricing is controlled by an oligopoly, so even if demand is down they might keep the price high for the purple of keeping diamonds as an expensive thing.
  
  Yes, De Beers has manipulated the prices of natural diamonds before: https://en.wikipedia.org/wiki/De_Beers#21st-century_changes
- I don't really buy my jewelry as an investment 😅 not sure I personally see the point in it holding its value
  If I wanna get rid of it why buy it in the first place...?
  
  Of course this isn't true for any of us, but one of the reasons some people wear a lot of expensive jewelry is so they have something of value if they need to bug out quick. Also cops will steal all your cash but rarely your jewelry.

33 comments