Planet Money
Planet Money buys a mystery diamond
Mar 26, 2025
A team buys a mystery diamond online for $137, diving into the excitement and skepticism surrounding their purchase. They put the gem to the test at the Gemological Institute of America, discovering it's authentic. The podcast explores the differences between natural and lab-grown diamonds, revealing unexpected insights into the diamond market. With humor and curiosity, they tackle the economics behind pricing, competition, and consumer perceptions, unraveling the complexities of this beloved yet enigmatic stone.
32:22
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Quick takeaways
- The podcast explores the surprising analysis of a purchased diamond, revealing it to be lab-grown rather than natural, challenging assumptions about authenticity.
- It highlights the intricate dynamics of the diamond market, showcasing how marketing strategies and consumer perceptions inflate the prices of both natural and lab-grown diamonds.
Deep dives
The Mystery of the $137 Diamond
A seemingly unbelievable purchase of a diamond for $137 raises questions about its authenticity and price. The comparison presents an intriguing contrast, as a natural diamond typically costs around $5,000, while lab-grown counterparts are priced closer to $1,000. The exploration begins with a series of tests conducted on the diamond to determine its legitimacy. Initial scratching and density tests show promising results, suggesting that the diamond might indeed be real.
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