People who want a non-monetary, non-banking store of value should probably be buying gold bars.
The resale value of anything bought to be a permanent possession should be discounted to zero, at least for decision-making purposes, as the intent is to never resell it.
That leaves conspicuous consumption, which is a natural niche for expensive gadgets.
***
I don't see a downside of the jewelry industry imploding. The diamond industry specifically with its artificial scarcity and ethically questionable supply chain needs to go out of business.
Outside of commissioning custom pieces from a friend, I haven't enjoyed my interactions with the jewelry industry. At the high end, they charge eleventy billion in markup for all the fiddly bits they sell. At the low end, you get conversations like this:
Seller: "The sticker says $n, but I will let you have it for $n/2." Me: "My budget is $n/4." Seller: "I'll let you have it for $3n/8." Me: "Hem. Haw. Ugh. Ok."
Whether you buy from high end or low end, you end up feeling ripped off.
***
As far as craftsmanship goes, I'm sure the non-diamond jewelry business is booming on Etsy.
The resale value of anything bought to be a permanent possession should be discounted to zero, at least for decision-making purposes, as the intent is to never resell it.
That leaves conspicuous consumption, which is a natural niche for expensive gadgets.
***
I don't see a downside of the jewelry industry imploding. The diamond industry specifically with its artificial scarcity and ethically questionable supply chain needs to go out of business.
Outside of commissioning custom pieces from a friend, I haven't enjoyed my interactions with the jewelry industry. At the high end, they charge eleventy billion in markup for all the fiddly bits they sell. At the low end, you get conversations like this:
Seller: "The sticker says $n, but I will let you have it for $n/2."
Me: "My budget is $n/4."
Seller: "I'll let you have it for $3n/8."
Me: "Hem. Haw. Ugh. Ok."
Whether you buy from high end or low end, you end up feeling ripped off.
***
As far as craftsmanship goes, I'm sure the non-diamond jewelry business is booming on Etsy.
Reply
Leave a comment