chemicalclarity

chemicalclarity t1_iz1aesw wrote

I love that! There's a lovely story on the Tiffany's fith avenue property purchase. It was bought with a string of pearls. The value of that property today is truly astonishing, I don't believe the pearls are worth much more than a million today.

I may be a little hazy on some of the details here, it's been a long time since I looked into it. I'll see if I can find a link when I get a chance.

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chemicalclarity t1_iz12sug wrote

They're certainly purer, but the value of a diamond is a completely different discussion.

Inherently, all diamonds have very little value. You can test this for yourself. Buy one, them sell it, and compare the difference in price.

A diamonds value is largely driven by a century or so of solid marketing, and the social expectations attached to them.

Diamonds, like cars, depreciate as soon as you take them out the shop.

Historically (like 100+ years back) you could attribute the value to scarcity. They were difficult and expensive to mine. We've found a lot more fields, and mechanised that process considerably since.

Since then, companies like De Beers and Alrosa have artificially created scarcity by stockpiling.

These companies should be very scared of artificially created (but 100% genuine) diamonds. In the face of these advancements, their businesses are worthless.

Something similar happened with pearls. Prior to 1902, the only way to get a pearl was to wild harvest oysters and get lucky. ThenTatsuhei Mise came along and figured out how to artificially introduce an irritant to get oysters to produce perfect pearls like clockwork. The value of pearls plummeted as a result. They're not rare or unusual. You can buy them relatively cheaply at chain stores

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chemicalclarity t1_iz0zh6k wrote

If we're talking about efficiencies, what do the power requirements and environmental impact look like side by side? What does it cost to produce diamonds at scale, vs mining them at scale?

I've seen diamond mines. They look like the exact opposite of efficient, so I'd appreciate the input of someone who knows what it takes to create them.

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