7 Reasons Why Diamonds Are a Waste of Your Money

Why you should never buy diamonds, and what you should buy instead…

  1. The price of diamonds has been artificially inflated since the 1880’s via the De Beers diamond cartel. For the same cost, you can get a high-cost performance gemstone instead of diamond.
  2. Currently, public perception of diamonds is the direct result of a masterfully executed marketing campaign by De Beers that began in 1938, not inherent scarcity or value. If you’ve read the article by Edward Epstein (you really should), you will know all of the gory details. How brainwashed people are about the “value” of diamonds, even though they’re not actually worth that much. In other words, you not only pay for the diamond itself, but also the marketing fees of this brand.

Jeulia Jewelry Stone

     3. A diamond is an illiquid asset, not an “investment”. Don’t believe me? Try to sell a second-hand diamond ring on eBay or at a pawn shop. Do you really think you’ll get anything close to what you paid for it? Do you really think the price of any diamond you purchase today is going to go up significantly over time? A diamond ring isn’t even a good “insurance policy” to fall back on during hard times – it’s an illiquid asset that you’ll have a hard time selling for a price anywhere close to what you paid for it.

4. The diamond industry often results in warfare, genocide, and terrorism. According to Wikipedia, “a conflict diamond (also called a blood diamond or a war diamond) is a diamond mined in a war zone and sold, usually clandestinely, in order to finance an insurgent or invading army’s war efforts.” Profits from conflict diamonds are used to finance warlords in Angola, Sierra Leone, and Liberia, who use their weapons to kill and maim innocent people. Is it romantic?

5. A diamond is – by nature – just a pretty rock. Think of the oft-quoted “rule” of diamond ring buying: the ring should cost a minimum of two month’s salary (pre-tax), and you should spend as much on a ring as you can afford. Let’s put this rule in its proper context: according to the people who sell pretty rocks, you’re supposed to trade a full two months of your time and effort for one of their pretty rocks. Does that seem wise?

6. People notice the setting more than the diamond itself. To the naked human eye, most decent quality diamonds look the same. Unless the stone is yellow, has major inclusions, or has a distinctly lopsided cut, no one will be able to distinguish an ideal cut, E color and VS-1 stone from a lesser-quality diamond just by looking at it. What people do notice is the setting – how the stone is featured or placed, side stones, and the craftsmanship and artistry of the band. Knowing this – does it make more sense to focus your attention and dollars on a better stone, or in a better setting?

7. The opportunity cost of buying a diamond is huge. Opportunity cost is what you give up by spending your scarce resources on a single option. In other words, if you drop ten grand on a diamond ring, you have $10,000 less to spend on other things, like a fantastic honeymoon, a car, furniture, a down payment on a house, investing for the future, or further education. Are all of these options worth giving up for a little piece of colorless carbon?

Jeulia Jewelry Stone

Jeulia believes that great jewelry doesn’t have to cost a fortune. And we sell rings which are made of high-quality gemstones and are surprisingly affordable. We feature a beautiful array of designs and styles, ensuring you will find the ring set of your dreams.

Every woman deserves to wear a gorgeous ring, that’s why we bring you the best quality wedding ring sets out there. Whether you’re looking for a vintage, classic, or modern style ring set we have endless options for you to consider.

More wonderful sharing, please follow jeuliablog

31 thoughts on “7 Reasons Why Diamonds Are a Waste of Your Money

  1. An impressive share, I just given this onto a colleague who was doing a little analysis on this. And he in fact bought me breakfast because I found it for him.. smile. So let me reword that: Thnx for the treat! But yeah Thnkx for spending the time to discuss this, I feel strongly about it and love reading more on this topic. If possible, as you become expertise, would you mind updating your blog with more details? It is highly helpful for me. Big thumb up for this blog post!

  2. Hi there, just became aware of your blog through Google, and found that it is really informative. I am gonna watch out for brussels. I’ll appreciate if you continue this in future. A lot of people will be benefited from your writing. Cheers!

  3. Hello! Would you mind if I shasre ʏоur blog
    ԝith mү zynga grouр? Thеrе’s a lot of
    people tһat I think would гeally enjoy yyour ϲontent.
    Plеase let me know. Cheers

  4. My husband and i got quite contented when Emmanuel could do his survey while using the precious recommendations he was given from your very own web site. It is now and again perplexing to just always be freely giving tips the rest might have been trying to sell. And now we realize we have got the writer to give thanks to for this. These illustrations you’ve made, the straightforward blog menu, the friendships your site help to engender – it is most superb, and it’s letting our son and our family understand this subject is satisfying, and that is quite serious. Many thanks for all the pieces!

  5. My wife and i were absolutely ecstatic Louis managed to complete his studies while using the ideas he got from your blog. It’s not at all simplistic to just possibly be freely giving techniques which a number of people may have been making money from. And now we fully understand we now have you to be grateful to for this. Most of the illustrations you’ve made, the easy website navigation, the relationships you can help to promote – it’s everything impressive, and it’s really letting our son and our family do think the idea is satisfying, and that’s extraordinarily indispensable. Thank you for the whole lot!

  6. I just wanted to make a brief word to be able to express gratitude to you for the nice ideas you are sharing at this site. My rather long internet look up has finally been paid with incredibly good facts to exchange with my companions. I would suppose that we website visitors actually are very much blessed to live in a wonderful site with many awesome people with useful advice. I feel somewhat privileged to have discovered your site and look forward to many more amazing times reading here. Thank you once more for a lot of things.

  7. Thanks a lot for giving everyone a very marvellous opportunity to read from this website. It is always very terrific and full of a good time for me personally and my office mates to search your site a minimum of 3 times in one week to read the fresh guides you have. And definitely, I am also actually contented concerning the spectacular suggestions served by you. Some two tips in this post are unequivocally the most efficient I’ve ever had.

  8. You really make it seem so easy with your presentation but I find
    this topic to be really something which I think I would never understand.
    It seems too complicated and extremely broad for me. I’m looking forward for your next post, I will try to get the hang
    of it!

  9. I happen to be commenting to make you understand what a fine discovery our princess found reading through the blog. She realized some details, which include what it is like to possess a marvelous helping style to get most people without difficulty learn some problematic matters. You actually surpassed our own desires. Many thanks for producing these valuable, healthy, edifying and also cool thoughts on your topic to Lizeth.

  10. There are some fascinating deadlines on this article but I don抰 know if I see all of them middle to heart. There may be some validity but I’ll take maintain opinion till I look into it further. Good article , thanks and we wish more! Added to FeedBurner as nicely

  11. Hi there! This is my 1st comment here so I just wanted to
    give a quick shout out and tell you I genuinely enjoy reading your posts.
    Can you suggest any other blogs/websites/forums that go over the same subjects?
    Thanks a ton!

  12. I’m also writing to make you understand what a amazing encounter our princess enjoyed reading yuor web blog. She mastered a good number of pieces, with the inclusion of what it is like to possess a very effective giving nature to get certain people with ease know just exactly specified specialized things. You truly did more than our expected results. Thank you for churning out those warm and friendly, safe, edifying and even easy guidance on your topic to Lizeth.

  13. I enjoy you because of your whole efforts on this website. My daughter delights in working on internet research and it’s really easy to understand why. My spouse and i learn all of the powerful mode you offer advantageous guides through your web blog and therefore boost response from people on the subject matter and our own girl is becoming educated a great deal. Have fun with the rest of the new year. You have been conducting a fantastic job.

Leave a Reply

Your email address will not be published.