LawTalkers - Fashionistas you have arrived 3-25-03

Interesting. From the FAQ:

"Why does Gemesis grow yellow diamonds?
Demand and interest for fancy colored diamonds has grown dramatically over the past several years. In the diamond market, yellows have received unprecedented interest and attention. Because of this consumer interest in yellow diamonds, Gemesis has focused our development, manufacturing and marketing efforts on this beautiful color."

So, has DeBeers paid them off to stay out of the white diamond market?

Yellow diamonds, I thought, were traditionally not suitable as engagement rings, but rather as additional adornments for later-in-life gifts.

B_R_C?

mmm3587

08-13-2003 05:39 PM

Synthetic Diamonds

Quote:

Originally posted by evenodds
That's exactly right. In fact, I would prefer to have a synthetic diamond manufactured in Sarasota (how perfect is that, the only factory in Sarasota makes diamonds), than the "real" diamonds I already have and will continue to acquire.

Even(I love things that sparkle)Odds

When selecting, say, a pair of diamond earrings, are you driven by the product or the price?

For example, if this synthetic diamond thing gets hot and causes DeBeer's to illegally fix their prices at a lower level, would you choose (a) the same earrings you would have otherwise chosen at a lower price or (b) earrings otherwise the same but with bigger diamonds and the same price?

Gattigap

08-13-2003 05:41 PM

Synthetic Diamonds

Quote:

Originally posted by Anne Elk
I'd get one, except that I'm not to keen on the yellow color.
Gemesis web site

Apparently, they started with producing yellow diamonds because they are more rare and therefore more expensive. (Wired mentioned that Kobe's $4M ring purchase was for a "pink" diamond, as I recall.)

Stay tuned. Soon the startups will move to plain ol' clear, perfect diamonds, and we can watch DeBeers move straight from annoyance to conniption.

Replaced_Texan

08-13-2003 05:44 PM

Synthetic Diamonds

Quote:

Originally posted by Mmmm, Burger (C.J.)
Interesting. From the FAQ:

"Why does Gemesis grow yellow diamonds?
Demand and interest for fancy colored diamonds has grown dramatically over the past several years. In the diamond market, yellows have received unprecedented interest and attention. Because of this consumer interest in yellow diamonds, Gemesis has focused our development, manufacturing and marketing efforts on this beautiful color."

So, has DeBeers paid them off to stay out of the white diamond market?

Yellow diamonds, I thought, were traditionally not suitable as engagement rings, but rather as additional adornments for later-in-life gifts.

B_R_C?

The article said that it takes longer to manufacture the colorless diamonds, and since the (natural) yellow ones are fairly popular (and less abundent) these days, it made sense to market them first.

Replaced_Texan

08-13-2003 05:47 PM

Synthetic Diamonds

Quote:

Originally posted by purse junkie
I despise DeBeers and their looting. But again, try explaining to your fiance that you want say, fake gold wedding bands because they're cheaper than and just as pretty as real ones. Why even bother? Either put the money towards something sensible, or get say inexpensive, pretty but genuine silver ones.

For me, it's not the money saved. I'm with fringey on big diamonds. I'm looking simply at the difference between the synthetic and the natural. There's no chemical or physical difference, and if you're going to have a diamond, why not have one with no guilt attached? These aren't "fake" diamonds, but they are manufactured. I don't have a problem with that.

Mr. Man

08-13-2003 05:48 PM

Synthetic Diamonds

Quote:

Originally posted by Gattigap
Apparently, they started with producing yellow diamonds because they are more rare and therefore more expensive. (Wired mentioned that Kobe's $4M ring purchase was for a "pink" diamond, as I recall.)

Stay tuned. Soon the startups will move to plain ol' clear, perfect diamonds, and we can watch DeBeers move straight from annoyance to conniption.

They had mentioned the clear ones take longer and the colored ones are hotter at this point.

And what of the Boston variety, where they are only distinguishable from "real" diamonds through their perfection? I think this will make a good movie when DeBeers has all of these guys killed off.

evenodds

08-13-2003 05:48 PM

Synthetic Diamonds

Quote:

Originally posted by mmm3587
When selecting, say, a pair of diamond earrings, are you driven by the product or the price?

For example, if this synthetic diamond thing gets hot and causes DeBeer's to illegally fix their prices at a lower level, would you choose (a) the same earrings you would have otherwise chosen at a lower price or (b) earrings otherwise the same but with bigger diamonds and the same price?

I think I would pay more for a non-DeBeers, non-blood diamond.

If the price of DB's diamonds drop, I would probably stick with the same earring at a lower price. Since I don't play in the NBA, there is only so large a diamond earring should be.

mmm3587

08-13-2003 05:52 PM

Synthetic Diamonds

Quote:

Originally posted by evenodds
I think I would pay more for a non-DeBeers, non-blood diamond.

If the price of DB's diamonds drop, I would probably stick with the same earring at a lower price. Since I don't play in the NBA, there is only so large a diamond earring should be.

I'm confused. If that's so, and this is so: "That's exactly right. In fact, I would prefer to have a synthetic diamond manufactured in Sarasota (how perfect is that, the only factory in Sarasota makes diamonds), than the "real" diamonds I already have and will continue to acquire."

,why would you continue to acquire "real", non-synthetic diamonds? The synthetic ones will be cheaper and without guilt.

Did you just call me Coltrane?

08-13-2003 05:52 PM

Synthetic Diamonds

Quote:

Originally posted by mmm3587
That's true; synthetic diamonds bring to the surface what has been the nasty truth of diamonds since DeBeer's marketed them as valuable: they have little inherent value and aren't scarce.

They're desirable because they look nice, but they're expensive only because their supply has been controlled by a cartel engaging in some activity illegal in most countries of the world (price fixing, collusion, etc.) and some activity illegal in almost all countries of the world (murder, rape, terrorism, etc.).

I have always been perturbed by consumer demand for things without prices directly related to what I perceive to be valid utility. Clearly, many people get utility out of diamonds just because they are worth what they are worth. While I agree that diamonds have significant utility based on their appearance, and I have no problem with that, the fact that they have additional utility to many people based solely on marketing and price disgusts me.

I would think it was great if a woman told me that she wanted an engagement ring without diamonds, even if it cost the same as or more than a diamond ring. And if you could get an exquisitly beautiful ring with a nice-sized synthetic diamond for less than what the ring would cost with a price-inflated natural diamond, all the better.

I've always been disturbed by the ways that giving a diamond ring for engagement is tied up in concepts of spending a lot of money, to prove one's love, and doing what everyone else does, to prove one's love. Those two things, to me, seem to be materialism at its most naked.

I'm not trying to impugne diamond lovers, of course. To each his or her own. I'm just annoyed that the industry-created party line is, "You don't love her if you can afford a nice, expensive diamond and don't give her one." and that so many people buy into that.

Which gemstones are truly rare and/or are priced according to efficient supply/demand market conditions?

My best friend's GF told me (I'm sure as a hint) that she does NOT want a diamond, but would prefer a different stone...

evenodds

08-13-2003 05:54 PM

Synthetic Diamonds

Quote:

Originally posted by mmm3587
I'm confused. If that's so, and this is so: "That's exactly right. In fact, I would prefer to have a synthetic diamond manufactured in Sarasota (how perfect is that, the only factory in Sarasota makes diamonds), than the "real" diamonds I already have and will continue to acquire."

,why would you continue to acquire "real", non-synthetic diamonds? The synthetic ones will be cheaper and without guilt.

I read your hypo to pose DB diamond prices dropping. Not half-priced manufactureds. My mistake.

Edited to add: my point is, I think manufactureds will be more desireable than mined diamonds.

ltl/fb

08-13-2003 05:55 PM

Relationship Mistakes

Quote:

Originally posted by Aloha Mr. Learned Hand
I think Burger's from DC, and he moderates that board. I am from Chicago. As for why you mix us up, maybe Burger has a better handle on that, but we do seem to have a similar sense of humor...

Throw Coltrane into the mix as well. Burger, Hand and Coltrane.

purse junkie

08-13-2003 05:55 PM

Synthetic Diamonds

Quote:

Originally posted by Gattigap
(Wired mentioned that Kobe's $4M ring purchase was for a "pink" diamond, as I recall.)

I'd hock the tacky diamond and buy a good divorce lawyer and man-candy with the money instead.

Mr. Man

08-13-2003 05:57 PM

Synthetic Diamonds

Quote:

Originally posted by purse junkie
I'd hock the tacky diamond and buy a good divorce lawyer and man-candy with the money instead.

The quote was JLo's ring I think. Nevertheless, your point of alternate use of proceeds remains valid...

purse junkie

08-13-2003 05:58 PM

Synthetic Diamonds

Quote:

Originally posted by Did you just call me Coltrane?
Which gemstones are truly rare and/or are priced according to efficient supply/demand market conditions?

My best friend's GF told me (I'm sure as a hint) that she does NOT want a diamond, but would prefer a different stone...

I believe high-quality rubies are actually quite rare. But I have no idea if they are subject to the same monopolistic hoarding that diamonds are that drives up the price.

NotFromHere

08-13-2003 06:00 PM

Synthetic Diamonds

Quote:

Please please keep this straight...J-Ho's engagement ring is a pink diamond. Kobe bought his wife a purple guilt ring.

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