Posted on 02/08/2005 7:28:31 PM PST by drt1
Man-made diamonds are now so perfect they stump the experts. The diamond industry is hoping nobody notices. Feb. 14 issue - Leo, a balding man with an Israeli accent, stands behind a glass counter in one of the hundreds of jewelry shops on 47th Street, the heart of New York's diamond district. Leo makes his living on the strength of his ability to evaluate the authenticity and value of diamonds. He is examining three small stones, each weighing less than half a carat—one pink, one colorless and a third, slightly green, called a marquise. He picks up the pink crystal between his index and middle fingers, places it gently on the counter and peers through his eyepiece—checking for the way the gem reflects light, its clarity and the shape and quality of the cut. He repeats the process for each of the other two stones. "They're real," he pronounces, handing over a business card with no last name. "They're very nice, but you're not going to retire on them. Come back when you have bigger rocks."......
(Excerpt) Read more at msnbc.msn.com ...
It's too late to save my bank account but I sure wouldn't mind cancelling the insurance policy I took out on my wife's rocks.
Well, I want to help. Diamonds are now worthless, so send them to me.
Very scarey for small jewelry store owners like my Husband & I!!!!
Sounds good to me. Removing artificial scarcity is always beneficial, and from what I've heard De Beers is a particularly odious company.
Yes it is, but presumably there'll be a market for these too and you may sell more b/c they will be less expensive. If not, then they'll be the same. But I'm sure you'll be able to buy them wholesale just as you do now.
Agreed, they have been setting the prices for the diamond market for generations.
There are plenty of real diamonds in the world, but DeBeers and the Russians have cornered the market. If they sold their stash, the price of diamonds would go down to cents per karat.
Jackie O's last live in made his fortune on the backs of the Africans using the Cartels. All in all a very bad, corrupt industry that should go away and maybe this breakthrough can hasten it's demise.
Let me know when they are slip and dislocation free.
I've got some semiconductor uses...
I would always want an engagement ring to be the real thing. However, any other jewelry does not have to have real diamonds. Don't worry, people will still buy real jewelry. There are still rubies, pearls, etc. Also, not everyone will want something other than the real thing.
Wired had a cover story on this in the last year or so. It clearly stated that DeBeers was going all out to protect its monopoly on diamonds. Sort of surprised that any of the synthetics are getting to the jewelerly market considering the muscle DeBeers has.
For me at least, the gemstones themselves are not the best part of jewelery, its the settings and such. Nothing as boring as the basic solitare, I don't care what size the stone is.
Maybe you should educate yourself instead of slinging smug comments.
I just sent a link to the article to the managers of all our pawn shops. Could be we'll get down to treating diamonds just like we do sapphires and rubies--as a pretty stone with no value whatsoever (since differentiating between real and synthetic is more trouble than it's worth).
Not too much trouble identifying synthetic colored stones, most of the time it's the color that's a dead give away, no warmth. Under a microscope you will see striations (small lines) in the stone as well as other imperfections in a natural stone. If I have any question they go to a gemologist for inspection.
The whole idea that it's a traditional requirement for engagement rings and wedding rings to be diamonds is a fabrication engineered by DeBeers. They're actually that diabolical.
"You'll be fat and bald... but she'll still love the diamond"
There are some others, all basically playing on male insecurity and/or telling you it's the easy way to impress a chick without really trying.
A: No. Diamonds are about to become a commodity differentiated only by their cut and their setting. Their investment value will be negative. They'll still be pretty, though.
I would rather have a truly flawless diamond, regardless of method.
That most reflects what I would think of my wife.
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