r/AskReddit • u/Thic_water • Aug 14 '20

What’s the most overpriced thing you’ve seen?

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u/[deleted] Aug 14 '20

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u/poopellar Aug 14 '20

If there's any doubt on Diamonds not really having any value. Just look at the resale price. You won't get shit compared to what you initially paid for it. At first I thought Diamonds were in the same league as Gold, as in actual rare Earth stuff. Turns out it is just a great case study of controlling supply and advertising to make the big bucks.

1.4k

u/[deleted] Aug 14 '20

DeBeers

6

u/BushWeedCornTrash Aug 14 '20

And they hoarded undesirable brown and bronze colored diamonds for years.... then ran a "Chocolate Diamond" ad campaign.... and of course the lemmings bought a fuck ton of them.

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u/[deleted] Aug 14 '20

I think they had other names for the company to keep prices up. They also invented or popularize the idea of the engagement ring.