TIL in the 1980s, a woman bought a ring at a car boot sale for £10 & proceeded to wear it regularly under the assumption it was a piece of costume jewelry. It later appraised and sold for £650k.

realitista@lemm.ee · edit-2 2 days ago

TIL in the 1980s, a woman bought a ring at a car boot sale for £10 & proceeded to wear it regularly under the assumption it was a piece of costume jewelry. It later appraised and sold for £650k.

howrar@lemmy.ca · 1 day ago

It’s so weird to me that a diamond can possibly go for that much. I understand that this one was probably made a long time ago based on the way it was cut, but it’s not like we don’t have the means to create an exact replica of it. This thing is pure carbon. There aren’t even impurities to make it interesting.

squaresinger@lemmy.world · 12 hours ago

It’s the same with anything that had a value that goes beyond pure utility.

It’s not hard to make a functionally identical copy of the Mona Lisa, indistinguishable by anyone apart from the most highly skilled forgery experts.

And yet the Mona Lisa is still incredibly valuable and considered a one-of-a-kind, same as diamonds in the OP.

All of that value is based on the greater fool theory: the theory that if I pay a lot of money for it, I think I will find a greater fool later on who will pay even more for it. And that fool believes the same thing until the charade eventually collapses.

howrar@lemmy.ca · 11 hours ago

I don’t think the Mona Lisa is a good comparison. When it comes to old paintings, there’s a lot of interesting stuff happening underneath the surface image that tell an interesting story. They can be analyzed to see all the mistakes that were corrected, or changes that were made to the painting. I believe it was also commonplace to reuse old canvases, so with the appropriate technology, you would in theory be able to look underneath and see everything that came before as well. So I can definitely see why that would be valuable.

Still don’t understand diamonds though.

SanguinePar@lemmy.world · 1 day ago

I always feel sorry for the people who unwittingly sold something so valuable for so little. I hope they never realised.

LostXOR@fedia.io · 2 days ago

&

snooggums@lemmy.world · 1 day ago

Dungeons & Dragons

witty_username@feddit.nl · 2 days ago

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TIL in the 1980s, a woman bought a ring at a car boot sale for £10 & proceeded to wear it regularly under the assumption it was a piece of costume jewelry. It later appraised and sold for £650k.

TIL in the 1980s, a woman bought a ring at a car boot sale for £10 & proceeded to wear it regularly under the assumption it was a piece of costume jewelry. It later appraised and sold for £650k.

Ring purchased for $13 sells for $848K | CNN

This is an automated archive made by the Lemmit Bot.

TIL in the 1980s, a woman bought a ring at a car boot sale for £10 &amp; proceeded to wear it regularly under the assumption it was a piece of costume jewelry. It later appraised and sold for £650k.

TIL in the 1980s, a woman bought a ring at a car boot sale for £10 &amp; proceeded to wear it regularly under the assumption it was a piece of costume jewelry. It later appraised and sold for £650k.

Ring purchased for $13 sells for $848K | CNN

This is an automated archive made by the Lemmit Bot.

TIL in the 1980s, a woman bought a ring at a car boot sale for £10 & proceeded to wear it regularly under the assumption it was a piece of costume jewelry. It later appraised and sold for £650k.

TIL in the 1980s, a woman bought a ring at a car boot sale for £10 & proceeded to wear it regularly under the assumption it was a piece of costume jewelry. It later appraised and sold for £650k.