Why Engagement Rings Are a Scam

[Scott Mc]

Good info and thanks for the link DAS, but besides an industrial use situation I won't waste my money on an overpriced rock. The bond is made in the commitment of the object and the satisfaction of the receiving party, not the dollars wasted on it. It should make the other person happy for the thought and the thought alone. I guess I grew up too broke to understand rich peoples trinkets.

[slow99]

It was way more than two months. Although it will probably pay off for him as his new wife's dad is way up the food chain at a soft drink company. The in laws have a Highland Park house and a vacation house out in Palm Springs. She is a pretty girl too and just a great all around person. I still told him he is fucking crazy.

Sounds like a solid investment.

[CJ]

good post.

[DasVWBabe]

Long post, but I have been helping men not get screwed by the engagement ring process as a hobby for at least the last 10+ years, so I'm a little passionate about disseminating correct and incorrect information. There is a ton of repetitive misinformation that this video continues to proliferate, and in such an emotion driven process, it doesn't focus quite enough on verifiable current facts to be a legitimate source.

Though some of what this video suggests is correct (or was correct in the very late '90's), I have a problem with a few aspects of it (other than the fact that it basically claims that no diamond engagement rings existed before 1938). I have bought/sold loads of antique diamonds cut long before 1938 that had limited/minimal wear and tear or abrasions on them despite their age.

1) Yes, diamonds (as a material) are plentiful, but gem-quality diamonds are not as plentiful as the video suggests. DeBeers hasn't had a controlling interest in the monopoly of the diamond trade in at least a decade, and today, their share is less than 40% when compared to other mining companies like Rio Tinto, Alrosa, Harry Winston, etc.

2) The bigger problem here (that isn't even mentioned, but is the real "scam", IMO) is the Rappaport report, by which all diamond pricing is based. Even man-made diamonds (the real chemically/structurally identical lab-created material created by companies like Apollo, D. Nea, etc.) pricing is based upon this Rappaport pricing report. If you're able to buy a > 1 ct. "man made diamond" for pennies on the $, you're buying a *simulant*, not a *synthetic* diamond. The very first >1 ct. man made colorless diamond was just created by D. Nea a little over 11 months ago. The price was astronomically high, because of the decades of R&D into HPHT (high-pressure, high-temperature) and CVT (chemical vapor deposition) methodologies that finally yielded that result. It's not entirely common to be able to grow MMD's to that size yet, and those larger diamonds still carry a huge premium.

3) Diamonds aren't intrinsically *worthless*. They have a ton of value in industrial and optical applications. Not $4k/ct. value, but they have their place. Not to mention, they are the hardest, most resilient natural mineral, so they make sense as a centerpiece for a piece of jewelry that is meant to be worn for decades. I collect antique jewelry and am consistently surprised at the excellent shape and minimal wear at facet junctures that most 100+ year old diamonds exhibit. Pretty cool to think that my great-grandmother's engagement ring still looks brand new at 101 yeas old.

4) Assuming that the engagement process is still mostly one-sided. It's not seen as much as one anymore, and if it is, it's on men to be communicating a new trend that's taken off across a lot of couples that are equally employed. I bought my husband a car as an engagement gift. Friends of mine have surprised their husbands with Harleys, TVs, watches, expensive musical instruments, guitars, etc.

Diamond Nexus labs, they are more money now but still cheap. I have had their product fool Jewelers and they make a great product at a fraction of the cost. Fuck buying real diamonds, I refuse to. If she doesn't like it then oh well.

This here. I will be glad when the manufactured diamonds put an end to the stupid shit that revolves around diamonds.

Diamond Nexus Labs is not selling chemically/structurally identical man-made diamonds. They sell *simulants* which is not to be confused with *synthetic diamond*. It's nothing more than very, very overpriced Signity CZ. It's not even very well cut CZ. I just went to look up pricing for a 7.5mm center stone in a "diamond" setting. $999.

Just buy a 7mm Ideal cut CZ for $3.00. http://www.ebay.com/itm/7-mm-Round-1...item589b15888e

And set it in this setting for $269 (making sure you tell the Ebay vendor the center stone is 7mm): http://www.ebay.com/itm/5mm-Round-So...item3a8417982e

If you're interested in Man Made Diamonds that are structurally/chemically identical to mined diamond, take a look here: http://www.pricescope.com/forum/labo...-diamonds-mmd/

[idrivea4banger]

Fuck that shit. I was looking at rings and some of the prices were crazy. I was like where's the under $1000 one's at? But I did see some that were in the 3k range that weren't your traditional rings that I probably wouldn't mind paying for.

[Probie]

Here here.

$27k isn't that bad really, I know a dude who financed(tard) a ring a little more than that. I'm almost positive he makes less than $50k. She was kind of a catch for him.

I also know a girl who wanted a ring her future husband refused to buy. She said screw it I'll pay the difference.

And then she left him and he's out 50k

[Cobraman]

Here here.

$27k isn't that bad really, I know a dude who financed(tard) a ring a little more than that. I'm almost positive he makes less than $50k. She was kind of a catch for him.

I also know a girl who wanted a ring her future husband refused to buy. She said screw it I'll pay the difference.

Fuck that!!

[Roscoe]

You guys should just keep the 6 bichon frises Ben has, you'll be the perfect couple.

This is too funny....

[dblack1]

And he'll still get tired of her bullshit at some point.

Here here.

$27k isn't that bad really, I know a dude who financed(tard) a ring a little more than that. I'm almost positive he makes less than $50k. She was kind of a catch for him.

I also know a girl who wanted a ring her future husband refused to buy. She said screw it I'll pay the difference.

[Sean88gt]

It was way more than two months. Although it will probably pay off for him as his new wife's dad is way up the food chain at a soft drink company. The in laws have a Highland Park house and a vacation house out in Palm Springs. She is a pretty girl too and just a great all around person. I still told him he is fucking crazy.

And he'll still get tired of her bullshit at some point.

[Broncojohnny]

His 2 months salary > yours.

It was way more than two months. Although it will probably pay off for him as his new wife's dad is way up the food chain at a soft drink company. The in laws have a Highland Park house and a vacation house out in Palm Springs. She is a pretty girl too and just a great all around person. I still told him he is fucking crazy.

[Sean88gt]

27k on a fucking RING?!?!?!?!? Holy FUCK.

His 2 months salary > yours.

[Unicorn Jeff]

27k on a fucking RING?!?!?!?!? Holy FUCK.

[Scott Mc]

I have never even spent that much on a fucking car. God damned retarded. Seen people sell all their shit to buy a ring and be divorced 3 years later. Blows my mind. Buy a fucking house!

[Broncojohnny]

Diamond Nexus labs, they are more money now but still cheap. I have had their product fool Jewelers and they make a great product at a fraction of the cost. Fuck buying real diamonds, I refuse to. If she doesn't like it then oh well.

This here. I will be glad when the manufactured diamonds put an end to the stupid shit that revolves around diamonds.