Diamonds or water?
What’s it worth? Everyone gets to decide for themselves. Just like we do about ourselves. (Image/Art Market Monitor)
Let’s pretend I possess the world’s largest diamond collection.
Because diamonds have high market value, I would be “worth” a lot of money.
But why are diamonds valuable? They’re stones. Like the ones we skip across ponds or kick to the side of the trail.
Simple supply and demand, which I understood but didn’t actually get in high school economics class.
When many people want something not readily available, prices go up. “Value” goes up. It’s why there are empty seats at every Cleveland Indians regular season game, but you have to pay double or triple for standing-room only tickets for playoff games.
Diamonds are rocks. They’re extremely valuable as precious stones coveted by high-end jewelers and gem collectors. But they’re just rocks.
Just like paper money or treasury bonds or gold…
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