500-carat diamond - What would you do with this?

cbs47 ^ | 9-29-09 | cakid

[cakid1]

This is one big diamond.

This thing is the size of a chicken egg.

It was discovered in South Africa.

The 507.55-carat gem reportedly has "exceptional color and clarity."

No value has been give yet for the

[the invisib1e hand]

I would keep it in my pocket so I could cut gang symbols into the mirrors in public restrooms.

Subway windows, too.

[umgud]

I remember hitting big on a quarter slot machine in Vegas once. I’d been alone for a long time and suddenly there were several women swooning all over me. Think of how many would do all sorts of things to me just to be near that rock.

[Fresh Wind]

I’d have it cut properly, mounted, and then I would give it to her Higness Queen Michelle I.

[GGpaX4DumpedTea]

“I didn’t even think of looking there!”

Where ya been lookin’, Arkansas?

[mamelukesabre]

Huge aint 500 carats. Huge is 5-50 carats.

[Perdogg]

including cutting your throat.

[gura]

DEAR GOD, DON"T THEY KNOW THAT CARBON IS

POISON!?!?!?!

[RobRoy]

Costco.

[La Lydia]

Yeah, I am sure you know all about it.

[calex59]

Your logic is a lot like saying land should have no value as there is so much of it.

No, his logic is that the supply far out strips the demand but the supply is purposely suppressed. Lots of land out there but not much available when compared to the demand, especially land that is desirable, there is no comparison what so ever. The diamond supply is huge, the diamonds allowed on the market are few compared to the demand, which keeps the price artificially high. Dan Tucker is correct, you are not.

[mamelukesabre]

Probably.

[La Lydia]

Seriously, diamond values rise exponentially with carat weight. Ten ten-carat diamonds are worth more than 100 one-carat diamonds, by a significant multiplier.

[Artemis Webb]

The price is artificially high I agree. But the system has worked for a very long time and there is no reputable indication, reason, belief or theory that that will change.

There is far too much money and profit to be made and no reason at all to upset the apple cart. The market in diamonds will not change appreciably in our lifetime, or our childrens.

[mamelukesabre]

Seriously, that rule of thumb doesn’t work beyond a certain point. Seriously.

And appraisals don’t mean shit once you get beyond a certain point either. When you start trying to put prices on one of a kind items, you are making stuff up. Sometimes there’s a buyer that agrees, and sometimes there isn’t.

[Artemis Webb]

"Diamonds are one of the most common minerals on the planet. Diamond prices are artificially high."

You and I, and our children, and their children will be dead and gone before the price of diamonds reflects the reality of their abundance.

It does not matter that there are far more diamonds than are on the market. Profits will remain high. De Beers controls 94% of the world diamond market. Russia could flood the world with diamonds and destroy the value of diamonds but why would they when they would be slitting their own throats?

No major governments, ours, Europe, Russia, the middle east or China have anything to gain from upsetting this apple cart. The fact that the supply is artificially manipulated means nothing if that system is rock solid (pun intended).

[mysterio]

I’d get my last will and testament in order and wait for my DeBeers-sponsored “accident.”

[shotdog]

It looks like just the right size to wedge under the bathroom door to keep it open when the facility is not in use. Unobtrusive but decorative. And better looking than the sad iron currently in use. sd

[GreenLanternCorps]

Frances Stevens: Even in this light, I can tell where your eyes are looking.

[fireworks]

Frances Stevens: Look, John. Hold them. Diamonds... The only thing in the world you can't resist. Then tell me you don't know what I'm talking about.

[fireworks]

Frances Stevens: Ever had a better offer in your whole life? One with everything?

[fireworks]

John Robie: I've never had a crazier one.

Frances Stevens: Just as long as you're satisfied!

[fireworks]

John Robie: You know as well as I do: this necklace is imitation.

Frances Stevens: Well, I'm not.

[maggief]

:)

[Ol' Dan Tucker]

You and I, and our children, and their children will be dead and gone before the price of diamonds reflects the reality of their abundance.

This is exactly why not one red cent of my money will go to buy a diamond. I refuse to play DeBeers' game. Others can buy into their marketing hype, but I will not.

As I said, IMO, anyone who pays the price is a sap.