Comment on Diamond market

southsamurai@sh.itjust.works ⁨2⁩ ⁨days⁩ ago

• atempuser23@lemmy.world ⁨2⁩ ⁨days⁩ ago

  1/10 to 1/20 the price. Literally an order of magnitude cheaper. I bought a bunch of people diamonds for Christmas this year.

  source

  • davidgro@lemmy.world ⁨2⁩ ⁨days⁩ ago

    For April Fools, Cards Against Humanity was literally selling diamond studded potatoes for $69.99 (USD) - and claimed a $1000 value, which I’m sure they would be at retail prices.

    The FAQ said they had thousands of them, but I didn’t get there in time.

    source
  • southsamurai@sh.itjust.works ⁨1⁩ ⁨day⁩ ago

    1/10 the price of what though? Retail, wholesale, or something like that , I assume.

    Which is fine, since you were responding to a vague two sentence comment. I should have done my usual long comment instead, it just isn’t something I really care about, so I kept it short. Damned if you do, damned if you don’t in that regard. Go mid to long, you have morons whining about the Kenney length. Go short, and someone is going to poke at it in one way or another.

    I’m just glad the person poking at it was neutral to friendly about it :)

    But, 1/10 the price of mined diamonds is still 1/10 the grossly inflated price of mined diamonds, not what they should cost based on a semi-fair market rather than the bullshit the diamond market is.

    Making the diamonds still isn’t cheaper than pulling them out of the ground. I’m not aware of energy usage, environmental impact, or anything like that, but in terms of the production costs only.

    That’s why man-made is cheaper; they’re competing against a rigidly corrupt and price fixed market.

    Mind you, I also couldn’t tell you what the cost of mining the diamonds would be if slave labor wasn’t involved either. Could be that with fair wages, safety measures, etc, manmade would totally undercut natural again.

    There, that’s the ten cent version instead of the penny cent version. Not gonna waste anyone’s time on the buck fifty version because I doubt anyone else cares, and I don’t care enough :)

    source

    • FlyingSquid@lemmy.world ⁨1⁩ ⁨day⁩ ago

      As a rule of thumb, man-made diamonds on average sell for about 10% the cost of natural diamonds. A year ago, they cost about 20%-30% of the price, according to Diamond Hedge.

      A natural 2-carat, round-cut diamond with a high-quality color and clarity rating costs about $13,000-14,000, whereas the equivalent lab-grown diamond sells for about $1,000, according to Sompura.

      www.cbsnews.com/news/cost-natural-lab-diamond/

      source