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In the paradox of value, it is a contradiction that it is cheaper than diamonds, despite diamonds not having such an importance to life. The paradox of value, also known as the diamond–water paradox, is the paradox that, although water is on the whole more useful in terms of survival than diamonds, diamonds command a higher price in the market.
The investment parameter of diamonds is their high value per unit weight, which makes them easy to store and transport. A high-quality diamond weighing as little as 2 or 3 grams could be worth as much as 100 kilos of gold. This extremely condensed value and portability does bestow diamonds as a form of emergency funding.
In 1999, De Beers Group stopped all outside buying of diamonds in order to guarantee the conflict-free status of their diamonds effective from 26 March 2000. [ 87 ] [ 88 ] [ 89 ] In December 2000, following the recommendations of the Fowler Report , the UN adopted the landmark General Assembly Resolution A/RES/55/56 [ 90 ] supporting the ...
Natural diamonds take billions of years to form and are difficult to find, making their price more stable. Diamonds, whether lab-grown or natural, are chemically identical and entirely made out of ...
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But in reality, just because something is expensive doesn't mean it will retain its value over time. More: Check Your $2 Bills -- They Could Be... 9 Luxury Items That Don’t Lose Their Value
Their typically lower price compared to natural diamonds makes them an appealing choice for many consumers. Additionally, the ethical implications of synthetic diamonds have garnered attention, particularly their potential to eliminate the risks associated with conflict diamonds, which are mined in war zones and often used to finance armed ...
The color of a diamond also plays a role in its value, with colorless diamonds given the greatest value. There are pink, yellow, blue and even black diamonds. Although these are less common than ...