Do you think hypergamy is to blame for the diamond market going down the tubes?

[MatureDJ]

I was reading this, and it got me interested:

The Great Diamond Glut: Miners Stuck With Gems Worth Billions

(Bloomberg) -- In one of the world’s biggest diamond vaults, hidden inside a nondescript office compound on the dusty outskirts of Botswana’s capital, the precious stones just keep piling up.Owner De Beers, which mines and auctions most of its gems in the southern African nation, has barely sold any

finance.yahoo.com

Owner De Beers, which mines and auctions most of its gems in the southern African nation, has barely sold any rough diamonds since February. Neither has Russian rival Alrosa PJSC.

my opinion: Hypergamy has decimated the elasticity of demand. Whereas in the old days a normie-tier man could seal the deal by putting down a rock for few $K as a downpayment on the poontang, now the Chad-tier man gets the poon without having to put down anything, while the normie-tier man has to wait in Friends purgatory, and since he is only released from purgatory after the poon has been fertilized, the poon wants the money in the form of food for the cuckold-before-the-fact spawn.

 

[Who Dares Win]

The diamond is the highest sign of commitment from a man as much as a fresh untouched pvssy is the highest sign of commitment from a woman.

After a 20 yrs lag, the average man calibrated his behaviour to the market.

Btw its always a pleasure to see shops that make clothes for brides bankrupting, even more will be to see jewelry stores to follow.
People better learn where to place their bets and realize that the only reliable purchaser is the average beta male that buys stuff for his own needs.

 

[SW15]

According to 2015 data, 76% of 40 year old men have been married at least once. 81% of 40 year old women have been married at least once.

Men still are getting married, which is generally a bad idea. Men are just getting married later in life now than in previous decades. Some beta will wife up a girl and buy a diamond.

 

[ImTheDoubleGreatest!]

Isn’t that more so because if the coronavirus than bc of marriage dying?

 

[Hal9000]

I'd say its more to do with the worldwide pandemic, which is making marriages almost impossible and is also probably having a significant dampening effect on proposals.

 

[GioWolf]

The diamond market is rigged, Debeers has a warehouse full of diamonds somewhere and controls their scarcity. I think with the average man crushed after the last housing crisis/recession, men are just buying smaller/cheaper diamonds. You can’t drop $10K on a ring when you need a down payment on an overpriced house. Diamonds are a terrible investment all around.