General Question

NolaD's avatar

Why do people still pay ridiculous prices for diamonds?

Asked by NolaD (38points) November 25th, 2010

If people know that diamond mining is bad for the earth and they know that the industry causes political turmoil and power struggles, why do people still buy them!?

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15 Answers

Response moderated (Unhelpful)
FutureMemory's avatar

Damn good question.

I’ve never understood why people place such high value on stones. When you factor in the virtual slave-like conditions workers are forced into in African mines, it’s even more ridiculous.

augustlan's avatar

Conditioning. We’ve been brainwashed into believing that the way to show your love is via diamond jewelry. What a ridiculous concept.

LuckyGuy's avatar

I realize I am stereotyping here but statistically it is true. “People” don’t buy diamonds. “Guys” buy diamonds because XX chromosome holders want and demand them. Diamonds are virtually indestructible. Why not recycle? Because some women have it ingrained that it is important. “Oooo!!! Show me your ring!!!” It is ridiculous!
Don’t forget the ads. “Every Kiss begins with Kay” (intentional misspelling) Am I the only one who sees that ad like a business deal for the world’s oldest profession?
Unfortunately women are in charge of this issue. Guys just follow along.

talljasperman's avatar

because they are rare and pretty

marinelife's avatar

Because they are rare, they intrinsically have value.

jlelandg's avatar

aren’t they a girls best friend?

laureth's avatar

Because they don’t make enough diamonds for everyone to have one.

jlelandg's avatar

By the way, my girlfriend specifically told me that she doesn’t want a diamond when we get married-which is really cool, I’m glad she questions the true value of something like that. However I do want to get her something nice whenever that day comes…I’ll not attempt to hijack at this time.

tinyfaery's avatar

Diamonds are not rare.

To answer the question—advertising and cultural norms explain the continued obsession with diamonds.

iamthemob's avatar

@psychocandy – I just learned that a little while ago – a shocker, particularly considering the blood diamond catastrophe.

tinyfaery's avatar

@iamthemob I saw a Dateline about it years ago. I will NEVER purchase a diamond.

augustlan's avatar

PS: My wedding ring is silver, no diamonds. No engagement ring, either.

YARNLADY's avatar

No all do, but I gotta tell you, the diamond heirloom ring I have is well worth the appraised price of $10,000. I love to hold it up to catch the light and throw rainbows on the walls.

Neizvestnaya's avatar

Because even though diamonds are technically rare in quantity, quality stones with great cuts are not and some people value having them just as some value eating fancy foods, wearing designer clothes and driving luxury cars.

Diamonds are recylable, versatile and durable so they make great gifts and heirlooms. Not all diamonds are mined by “slave” labor. Lots of people even enjoy to go to pawn shops to pick out stones in existing pieces and then have something new made. It’s hard to tell how long diamonds have been in circulation, they don’t exactly come with “mined” dates.

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