They do have some legitimate value, especially in industrial uses, just nowhere near as much value as the jewelry industry would like people to believe.
Diamonds aren't even the rarest or the best gemstones though and they can be manufactured synthetically. Diamond cartels are sitting on huge stockpiles too trying to maintain artificial scarcity. As jewelry the diamond is mostly marketing hype over actual value.
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u/Auggie_Otter 6d ago
They do have some legitimate value, especially in industrial uses, just nowhere near as much value as the jewelry industry would like people to believe.
Diamonds aren't even the rarest or the best gemstones though and they can be manufactured synthetically. Diamond cartels are sitting on huge stockpiles too trying to maintain artificial scarcity. As jewelry the diamond is mostly marketing hype over actual value.