The Real Cost of Real Diamonds
How much did you pay to have a child murdered? Do you know what your diamond really costs?
So, what is the actual cost of murder? Yes, murder. That is what you paid for, not that worthless hunk of stone. You paid for the hard work of a child to mine your diamond out of the earth. You paid for the death of that child. All so you can have a shiny, over priced pressed piece of coal on your wedding finger, and most likely, it won't be on there forever and ever. You will spend more on your divorce lawyers than you did on your engagement ring. The disillusion of your eternal promises costs more that the murder of a South African child. A life for a rock. Is it worth it?
So, you have a diamond, ring or some piece of jewelry that you no longer want. You have decided to sell your expensive investment and hope to move on to better things. You know what you paid for it and you have your appraisal papers to show how it has gone up in value. So, you set out to sell your diamond with a smile on your face. You feel optimistic about your upcoming endeavor.
Reality time! Your bloody diamond is worth next to nothing! How can this be? You've been spending hundreds of dollars every year just to keep it insured. So, let's break it down.
Your appraisal amount is almost double the retail price. So, you are paying extra for nothing to insure it every year. The offer price from all those “reputable jewelers” that promise they pay "top dollar" for diamonds is shockingly low. Many people in the diamond industry are more than willing to lie and rip you off. The setting, the gold and platinum and accent diamonds are all considered worthless.
Last time I checked gold was selling for nearly $1300 an once. I would not call that worthless. It's just another way the industry rips you off.
The buyers only consider the price of the center stone. And the amount they are willing to pay will be the most shocking and insulting amount you can ever imagine. Used cars hold their value better than a diamond. Diamonds are the most unnecessarily inflated industry in existence. It's a far better investment to buy a vintage Ferrari and watch the beautiful Italian appreciate in value in your garage!
Pieces like Harry Winston, Cartier, and Van Cleef & Arpels usually sell for around 30% of retail. Tiffany sells for about 25% of retail, and lesser known fine designer jewelry brands sell for closer to 15% to 20% of retail.
So, how much did it cost in the beginning, from the moment it was dug out of the earth in a place like South Africa? It costs nothing, no dollar amount. Mining organizations use forced child labor to mine the diamonds. The world's "richest" mine, the Jwaneng mine in Botswana, moves 8 million tons of rock a year and sells the rough diamonds for an average of $134 a carat. That's $1.5 billion in revenues, from a single mine. If all the mining stopped today, there are enough diamonds stockpiled to last 20 years or more.
Child workers are used as slaves since business owners exploit them as cheap employment to raise more profit. Diamonds have funded brutal wars in countries such as CAR, Angola, the Democratic Republic of Congo, Liberia and Sierra Leone over the decades, resulting in the death and displacement of millions of people. Diamonds from war-torn areas get mixed in with others. Corrupt officials can forge certificates. Diamonds are easily smuggled.
The mining of the earth's resources and the blood that is spilled over diamonds needs to stop. I believe that luxury doesn't need to kill. I love having luxury items, but not at the expense of others lives. I proudly wear faux fur coats instead of real ones. I love wearing my Hartique Gems collection. All of the pieces are made with the finest quality and look beautiful. I don't have to worry about them loosing any value and I know that no one was killed making them! Be luxurious and respect all lives.