Actually in many cases are Manufactured diamonds more expencive. Not because the process or the equipment is that expencive but because of certain limitations put on the industry so they cannot compete with diamond sales.
Grown versions are free from impurities which make other gems unique, and in some cases - more valuable
I should state that the "Hope diamond" is aided by the fact that it is a large diamond. You can shape a diamond in almost anyway you want. If you wanted a diamond in the shape of a heart you could do it with grown diamonds.
You can also match those exact "impurities" as well.
Lastly no one can tell the difference between a flawless diamond and a manufactured diamond unless they are trained to.
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All in all people's tastes in jewels is as deep as a puddle during a hot summers day.
Does Bismuth count?
It really doesn't matter to much for me. It just depends if price dictates your love of a product. If Snob appeal (appeal generated by price) colors your tastes to a high degree. A lot of luxuries and products are simply expencive crud rather then high quality.
is it really that surprising that people want stuff that'll get them respect and admiration? When looking poor gets you disgusted stares in public, is it that irrational to want to look wealthy?
Sure that makes a lot of sense. Too bad that isn't anywhere close to the ballpark people give as their answers. Usually the idea is that the most expencive gemstones are better because they are the most expencive and you have to have the most expencive gemstones.
Not because of that.