No inherent value
Still not convinced? Have you ever tried to pawn or sell a diamond ring? Retailers buy diamonds from wholesalers on commission and pay for them after they are sold. So, retailers mark up diamonds by 100% to 300% their original price. Once you buy a diamond, it depreciates by as much as 60%. Most retailers don’t want to buy back diamonds because it ruins the illusion that they are valuable. You can buy a diamond ring for $1,300. If you try to pawn or resell it, you might get a starting offer of $65. Diamonds cut for wedding rings are mass produced. The only actually valuable diamonds are giant, one-of-kind diamonds that you hear about on the news or displayed in museums.
