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De Beers profits tumble 99% <Nelson> HA HA!

Well all you guys in the world support them by buying your women huge ass rings so I have no sympathy for people who buy them.
 
They won't go under. They are still making money, just not as much. Although I do hope that they continue to go under...
 
Originally posted by: Passions
Originally posted by: SandEagle
i never understood the fascination with diamonds
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A diamond is forever.
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Actually that's not true, diamonds turn into graphite eventually, another de beers marketing lie :thumbsdown:
 
Originally posted by: XZeroII
They won't go under. They are still making money, just not as much. Although I do hope that they continue to go under...
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Yeah, a 99% drop in profits still means they are making a profit, which considering their market is pretty damned good.
If they had made a loss then maybe it would be something to consider and wonder what their future holds, but given that it's an expensive luxury, making any profit at all is impressive.
 
Originally posted by: SandEagle
i never understood the fascination with diamonds
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I don't think it's so much the diamond itself as it is the fact that a man would be willing to spend thousands or tens of thousands of dollars to buy them a rock.
 
Originally posted by: JulesMaximus
Go watch the movie Blood Diamond. Might make you reconsider how you look at that entire industry.
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and that movie candy coated it a little bit.

I think, even though it was in a comedy, The Rundown had a much better portrayal of how people in the precious metal industry are treated.
 
Originally posted by: Phokus
Originally posted by: Passions
Originally posted by: SandEagle
i never understood the fascination with diamonds
Click to expand...

A diamond is forever.
Click to expand...

Actually that's not true, diamonds turn into graphite eventually, another de beers marketing lie :thumbsdown:
Click to expand...

http://www.bris.ac.uk/Depts/Ch...M/diamond/diamond1.htm

Diamond and Graphite
Diamond is composed of the single element carbon, and it is the arrangement of the C atoms in the lattice that give diamond its amazing properties. Compare the structure of diamond and graphite, both composed of just carbon. In d iamond we have the hardest known material, in graphite we have one of the softest, simply by rearranging the way the atoms are bonded together.

The relationship between diamond and graphite is a thermodynamic and kinetic one, as can be seen in the phase diagram for carbon. At normal temperatures and pressures, graphite is only a few eV more stable than diamond, and the fact that diamond exists at all is due to the very large activation barrier for conversion between the two. There is no easy mechanism to convert between the two and so interconversion requires almost as much energy as destroying the entire lattice and re building it. Once diamond is formed, therefore, it cannot reconvert back to graphite because the barrier is too high. So diamond is said to be metastable, since it is kinetically stable, not thermodynamically stable. Diamond is created deep underground under conditions of extreme pressure and temperature. Under these conditions diamond is actually the more stable of the two forms of carbon, and so over a period of millions of ye ars carbonaceous deposits slowly crystallise into single crystal diamond gemstones.
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molecule of the month, july 1996
 
Including engagement ring and wedding ring, I have spent ~$500 on jewelry for my wife over the 8 years I have known her. I don't see that increasing much and, luckily, she doesn't care.

In fact, I spent more on a DSLR camera for her this Valentine's Day/Mother's Day/Anniversary than I have ever spent on jewelry and she likes that much more than stones.
 
Originally posted by: The Boston Dangler
Originally posted by: Phokus
Originally posted by: Passions
Originally posted by: SandEagle
i never understood the fascination with diamonds
Click to expand...

A diamond is forever.
Click to expand...

Actually that's not true, diamonds turn into graphite eventually, another de beers marketing lie :thumbsdown:
Click to expand...

http://www.bris.ac.uk/Depts/Ch...M/diamond/diamond1.htm

Diamond and Graphite
Diamond is composed of the single element carbon, and it is the arrangement of the C atoms in the lattice that give diamond its amazing properties. Compare the structure of diamond and graphite, both composed of just carbon. In d iamond we have the hardest known material, in graphite we have one of the softest, simply by rearranging the way the atoms are bonded together.

The relationship between diamond and graphite is a thermodynamic and kinetic one, as can be seen in the phase diagram for carbon. At normal temperatures and pressures, graphite is only a few eV more stable than diamond, and the fact that diamond exists at all is due to the very large activation barrier for conversion between the two. There is no easy mechanism to convert between the two and so interconversion requires almost as much energy as destroying the entire lattice and re building it. Once diamond is formed, therefore, it cannot reconvert back to graphite because the barrier is too high. So diamond is said to be metastable, since it is kinetically stable, not thermodynamically stable. Diamond is created deep underground under conditions of extreme pressure and temperature. Under these conditions diamond is actually the more stable of the two forms of carbon, and so over a period of millions of ye ars carbonaceous deposits slowly crystallise into single crystal diamond gemstones.
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molecule of the month, july 1996
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my science teacher told us diamonds turn to graphite eventually... has a half life of like 200,000 or 500,000 years, forgot which

also:

Diamond will turn into graphite over the time extremely slowly, as it is thermodynamically unstable. Why is this so?
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Carbon is polymorphic, meaning it can have more than one form. Carbon atoms can bond together to form either graphite or diamonds, or something else, depending on the organization of its atomic structure. At all temperatures, graphite is the more stable state for carbon. Under extremely high temperatures and pressures the graphite can be converted to diamonds. The bonds between the carbon atoms are shorter in diamonds than the long bonds in graphite. The extreme pressure causes the compression, or shortening or the bonds, and then the rearrangement of atoms necessary to convert graphite to diamonds. This creates a more efficient packing of the atoms. It is true that, according to the laws of thermodynamics, a diamond spontaneously changes to graphite under atmospheric pressure. The reason that diamonds can be found on the Earth's surface is because they are metastable. The change from diamonds to graphite takes place so slowly that it cannot be detected.
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Originally posted by: Phokus
http://www.citywire.co.uk/pers...content.aspx?ID=351061

can't say i'll shed a tear for these guys

hopefully they'll go out of business.
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You seem to have problems interpreting the facts. In one of the worst recessions we've ever seen, a company that sells products that are purely a luxury still managed to make a *profit*.

Their income didn't drop 99%, their profit did. They're still in the black during an period when people stop buying luxury items.
 
Originally posted by: tasmanian
Originally posted by: SandEagle
i never understood the fascination with diamonds
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Because you dont love your women if you dont buy here a 5k diamond ring.
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Did you mean 5 Karat or 5 Thousand Dollars? Big difference.
 
Originally posted by: 91TTZ
Originally posted by: Phokus
http://www.citywire.co.uk/pers...content.aspx?ID=351061

can't say i'll shed a tear for these guys

hopefully they'll go out of business.
Click to expand...

You seem to have problems interpreting the facts. In one of the worst recessions we've ever seen, a company that sells products that are purely a luxury still managed to make a *profit*.

Their income didn't drop 99%, their profit did. They're still in the black during an period when people stop buying luxury items.
Click to expand...

you seem to have a problem reading:

1)
De Beers profits tumble 99% <Nelson> HA HA!
Click to expand...

2)
hopefully they'll go out of business.
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I only buy mrsskoorb diamon jewelrry every few years and for very tiny amounts just so she can say she has it. IMO if you can make something in a lab every bit as good as the original and for less, then the original is BS. Apparently knock-offs are so good, even very close up, that some real diamond dealers have to put some kind of a watermark in place to prove it was really mined by some poor slave in africa instead of in a lab, it's all a silly joke.
 
Originally posted by: Skoorb
I only buy mrsskoorb diamon jewelrry every few years and for very tiny amounts just so she can say she has it. IMO if you can make something in a lab every bit as good as the original and for less, then the original is BS. Apparently knock-offs are so good, even very close up, that some real diamond dealers have to put some kind of a watermark in place to prove it was really mined by some poor slave in africa instead of in a lab, it's all a silly joke.
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It's not a knock-off. It a non-CZ synthetically produced diamond. As you mentioned, so damn near perfect that many jewelers can't tell.
 
Originally posted by: 91TTZ
Originally posted by: Phokus
http://www.citywire.co.uk/pers...content.aspx?ID=351061

can't say i'll shed a tear for these guys

hopefully they'll go out of business.
Click to expand...

You seem to have problems interpreting the facts. In one of the worst recessions we've ever seen, a company that sells products that are purely a luxury still managed to make a *profit*.

Their income didn't drop 99%, their profit did. They're still in the black during an period when people stop buying luxury items.
Click to expand...

Well Dimonds aren't just for engagement and wedding rings.

link to T-Pains "Big Ass Chain" If men completely stopped buying wedding and engagement rings. I bet from Rappers and athletes alone De Beers could stay in business. a $410k chain like this one equals a lot of wedding rings combined 🙂 And the scary thing is, there are rappers who have chains that cost much more than this one. I wish I had $410k to thow away lol.
 
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