I’ll let you in on a little secret but diamonds aren’t worth much. They’re pretty common when you come down to it. I mean these are diamonds:
They’re just rocks. Would you know these were diamonds if you first saw them? No of course not.
It’s the “gem grade” diamonds that are worth the hype. And yes it’s hype as even they are pretty common. The reason they’re so expensive is because diamond cartels like DeBeers are artificially inflating the price by sitting on literal warehouses full of them and only releasing them a little at a time. It keeps the price high.
Buy a diamond and try to sell it immediately afterwards. You’re lucky to get 50% of what you paid for it. That’s how worthless they are. And now you have these diamonds raining down in Jupiter and Saturn’s atmosphere. You think they’re gem grade? No. They’re like the rocks shown up top but maybe bigger.
Sure you could maybe sell them at a premium because they’re “space diamonds” and also you’d have no choice because it cost billions to go out and get them so maybe a dozen people in the world would be able to afford them.
And yes DeBeers and others have turned formerly worthless diamonds into fancy named diamonds because they realized people are stupid enough to fall for the hype and slick marketing campaign.
Before the expensive ones were the clear, blue and pink variety. Blue and pink commanded a higher price because they were so rare. But yellow diamonds were trash until they started marketing them as “Canary diamonds”. Brown diamonds became “Chocolate diamonds”. Beige diamonds became “Champagne” or “Cognac diamonds” and so on. So why not a huge diamond called a “Space diamond” that is so exclusive that only the super rich can afford? It creates a status symbol that people want to show off their wealth.