Many have heard or read some tabloid articles stating that diamonds are worthless and that a cartel actually sits on a throne, made up of a stockpile of millions of diamonds. Boom: pages after pages that all state the same thing. The rings in the displays are actually worth as much as dirt. So you cautiously type in these words into the search term. You think about that ring. Fear the worst. Perhaps some well-meaning acquaintance tells you that diamonds are a massive scam.

Are gem-quality diamonds intrinsically worthless? Diamonds, along with many other materials, do not have an intrinsic value, but this does not mean they are worthless, that statement is untrue for both jewelry diamonds and industrial diamonds.

The first claim that diamonds are intrinsically worthless is a cherry-picked statement.

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For gem-quality diamonds that you put in (Click on diamonds.backtoglamour.com https://diamonds.backtoglamour.com/tag/ags/) rings, the value comes from the value we assign to them as a society. So unless you live on a deserted island isolated from society, diamonds do have value, even if it is assigned by us. However, we know these objects have value because we collectively believe they have value.

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What about industrial quality diamonds, are they worthless?

For industrial quality diamonds, the material itself is not just valuable, but very useful! Look all around you, every building has a bit of diamond-elbow-grease to it! Have you ever seen a (https://www.dmia.net/cheapest-country-to-buy-diamond-ring/) movie where they need a diamond for that fancy laser? Diamonds are also resistant to high temperature and pressure (that is how they are formed after all) making them ideal vessels for scientific research involving high temperature and pressure. Diamonds, being the hardest naturally occurring material on the planet, are indispensable to anything involving cutting, drilling, and grinding. Not terribly far from reality.

Are diamonds run by a cartel? So, no, it’s not a monopoly. The price we pay for diamonds is basically extortion.

Many people still believe that diamonds are controlled by one company. Case closed.

Diamond Resale Value

Lastly, diamonds have always had resale value. The wealthy have always turned to auction houses to resell their gems since the auction houses became a thing in 1674. Everything from multi-million dollar diamonds, to warehouses full of dusty heirloom jewels, have been auctioned off. Surprisingly, many of the pieces offered have a very approachable price point of a few hundred dollars. Selling the most expensive diamonds? Ever heard about those auction houses shattering records.

What if your jewelry is not accepted at an auction house?

You still have many avenues left to sell your diamond. With the rise of second-hand luxury platforms, buying and reselling diamonds has never been easier. Some have full teams, including gemologists to catalog the piece, a photographer to make it look amazing, and a logistic specialist doing all the work for you to sell for top market value. Entire new branches of the industry are rising to meet the demand for reselling diamonds, a testament to the value of fine jewelry!

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So what should we do? A lot of details go into pricing, proportions, fluorescence, and other tiny elements, so definitely get the help of a gemologist to ensure you are comparing apples to apples. The best way to buy diamonds is to compare the price of one diamond to another of very similar quality to see if the offer is a good one.

Your diamonds are far from being worthless. These rumors need to stop.

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