figuring out superstition might get you a fine deal on an engagement ring - Quartz

Many apparel and jewellery purchases are fraught with feelings that defy motive, but possibly none so a good deal as the diamond engagement ring.

"That has a monetary price that you wouldn't suppose would exist," said Anne Bowers, an affiliate professor on the tuition of Toronto's Rotman school of administration.

Bowers attempted to position a host on that value in a 2015 examine she published in Advances in Strategic management. She analyzed virtually 15,000 rings for auction on eBay, and additionally ran an scan whereby she offered a diamond ring for sale three other ways. In every case, the ring—a .70 carat circular extraordinary cut diamond in an 18kt white gold band—confirmed an opening bid of $300, and an normal retail price of $3,500.

The only change changed into the backstories.

in a single description, she mentioned, "as a result of a divorce, i am auctioning this gorgeous .70 carat diamond ring…due to the fact that my ex and i split up I don't wear it anymore, however someone else may still!" In an additional she claimed "i am still fortunately married—i am selling the ring because I choose to wear best a wedding band as a result of I work with my hands." in the third, the "seller" changed into effortlessly a save with an overstock of latest rings.

The "tainted love" bargain

Bowers found that on common, engagement rings with a history of divorce fetched fees 26% reduce than these with a "happy marriage condition," and 33% lower than new rings—about $550, $740, and $820 respectively. This turned into according to the eBay promoting data of the lots of engagement rings Bowers analyzed.

"you could take two things which are visually and structurally similar," she talked about. "We ascribe distinct value to them, on account of the story connected to them."

When it involves engagement rings, that story is paramount.

The diamond dream

generally thanks to a mid-century advertising and marketing crusade engineered with the aid of De Beers, the solitaire diamond ring has come to characterize the commitment, love, and electricity of 1's relationship. With that campaign, the mining enterprise created what it refers to internally as "the diamond dream," particularly "the allure that diamonds have for consumers, in keeping with their association with romance and a sense of the everlasting, and the indisputable fact that they're seen as an enduring supply of value."

name it sentimental value or emotional weight; this diamond dream is what makes an engagement ring price so a good deal greater than the sum of its constituents.

Kate Middleton is not frightened of a haunted engagement ring.(AP picture/Kirsty Wigglesworth)

So why would anyone expose that a ring got here from a divorce, you could ask yourself? For starters, as a result of they're going through a tricky time. It's handy to imagine that inserting an engagement ring up on the market can be a heartbreaking step in a single's separation. In analyzing lots of of such ring descriptions, Bowers mentioned she observed "lots of emotional catharsis."

another excuse for revealing what Bowers calls a ring's "tainted association" is that it helps to set up a seller's legitimacy. In other words, the diamond isn't false or stolen.

"[Buyers] rated the divorced ring to be the absolutely to be genuine," talked about Bowers. "however that didn't imply they wanted it."

A stake in our superstition

Recycled diamonds such as these make up lower than five % of the polished diamond market, however that they're plentiful—and infrequently, spectacular. That's first rate information for mining and jewelry companies, of course, which are closely invested out there for new stones. For that intent, the conception of a diamond being "tainted" or haunted by means of its previous serves the interests of those corporations.

Our superstition helps squash the secondary marketplace for diamonds.

Bowers observed she has seen excessive-extent buyers of rings on eBay—americans purchasing 40-60 rings per 12 months—who likely scrub the stones of their beginning experiences earlier than returning them to the market, freed from "taint."

For the regular purchaser, it can be a great option to get a reasonable diamond.

"in case you're now not emotionally connected to this," noted Bowers, "which you can absolutely get outstanding deals."