[Artemis Webb]

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

[Ready4Freddy]

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

Not really. Diamonds are one of the most common minerals on the planet. Diamond prices are artificially high.

[Ol' Dan Tucker]

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

The law of supply and demand controls both.

Where land is plentiful and easy to buy, it is cheap. Where access is tightly controlled, it is expensive.

Access to diamonds is tightly controlled so as to purposefully inflate the price. IMO, anyone who pays this artificially inflated price is a sap.

[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.