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99 votes
Accepted

Is it true that the price of diamonds is based on a monopoly?

Yes, the De Beers Group of Companies is a diamond cartel that had complete control of the diamond market for most of the 20th century. They still control a sizable portion of the market and their ...
NL - Apologize to Monica's user avatar
28 votes

Is it true that the price of diamonds is based on a monopoly?

diamonds are intrinsically worthless -- and therefore have quite little resale value It may be true that De Beers has a near monopoly on diamond supply, but they are still a scarce resource, so their ...
D Stanley's user avatar
  • 137k
25 votes

Is it true that the price of diamonds is based on a monopoly?

De Beers is the company most cited as the near monopoly. They used to own a massive chunk of the diamond supply and intentionally restricted that supply to increase the price. In recent decades, new ...
Lan's user avatar
  • 2,680
11 votes

Can I hold gold as much as I like at home in the US?

The executive order 6102 has been repealed and there's no prohibition on owning and possessing gold in the US. Taxes are paid on income, and gold bullions, coins, and bars are treated as collectibles ...
littleadv's user avatar
  • 177k
8 votes

How do diamond investment brokers make their money?

They made their money one of two ways. Either they got a commission from the original owner (similar to how a buyer's agent in a real estate transaction gets a commission from the original owner of ...
Joe's user avatar
  • 35.8k
6 votes
Accepted

How do I get the most money for selling an engagement ring?

If you were trying to sell a car you would check used car price websites to get a guesstimate. You would then have to take the car to places that buy cars and have them make you an offer. If you like ...
mhoran_psprep's user avatar
4 votes

How do I get the most money for selling an engagement ring?

For full disclosure, often times a jeweler will allow you to return the item in such cases. Even if they give store credit in exchange you can get yourself a nice watch or gifts for family. Not ...
Pete B.'s user avatar
  • 76.7k
2 votes

Is the warranty on an engagement ring worth it

In my experience, most of the "Extended Service Plans" sold by Big Chain Stores have too much fine-print. Everything they give you in 'the plan'... they take away in fine-print. Most require you to ...
Chris's user avatar
  • 21

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