Highest Rated Comments

Rashaya966 karma

Even if it did get passed down in the family, it would still affect the industry. Every time a guy proposes with a ring that used to belong to his grandmother, that's a newly mined diamond that isn't being bought.

Rashaya635 karma

That's what happens when you don't spend your whole life on Reddit.

Rashaya188 karma

They'd have to pay market price just like anybody else, and then they'd have a lot of stock that they'd struggle to sell.

Rashaya65 karma

That £5k ring you bought includes a huge markup for retail and the design of the ring/name brand designer/whatever. The diamond itself was never worth nearly as much. Anybody right now has the ability to go to a pawn shop and pick up a diamond at whatever the market value is. The advantage that DeBeers has is that they control much of the mining industry.

If DeBeers wanted to drive up the price of second-hand diamond jewelry, then as they're buying up supply, they would necessarily have to pay the same higher prices as everybody else.

Rashaya57 karma

Holy shit, that seems custom designed to disenfranchise people who rent at places where utilities are covered, as well.