The question is, are diamonds valuable? The value is given by us because of the rarity. Although some scientists believe that there may be billions of tons of diamonds under the surface of the earth. ...
In the 1970s and later, some publications decided to test whether the
public perception of diamonds was true, as summarized in a 1982 article in The
Atlantic: "Have you tried to sell a diamond?" In this world of
gemology, they found how, in a study done by consumer publication Money Which
in London in the 70s, when inflation was high, it brought a consumer 3% income
after holding it for eight years. ...
In 1976, the Dutch Consumer Association tried to test it by buying a
1.42-carat diamond and then selling it. It was offered to twenty sellers,
nineteen refused, the latter agreed to buy it for a small fraction of what was
paid for.
In the late 1970s, a scandal also erupted in the United States, during
which, using unethical tactics, they tried to sell diamonds to investors in the
United States, however, when they decided to open them and evaluate their value
with experts, they determined that the diamonds were worth less. than what they
bought them for.
In 1978, a wealthy woman paid $ 100,000 for a necklace she had bought
from Tiffany two years earlier to buy another piece of jewelry she liked. When
he tried to resell it at Tiffany, they responded that they had a policy not to
repurchase the items they were selling and recommended that he see another
jeweler on Fifth Avenue. After half a dozen jewelers refused to offer him the $
100,000 they had paid, he decided to keep it for himself. Maybe that's why the
diamond is eternal?
This has changed in recent years, with great jewelers worried that
millennials, the youngest, are not buying diamonds or demanding other goods.
Perhaps we will see the decline of diamonds in the next few years?
Ask readers about their diamond sales experience.
On the salmon blog | Vinyl Ash Diamonds and Beach Flooring - A Terrible
Financial Decision?
More information | Louis Cabral, professor at New York University's
Stern School of Business
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