> Diamonds aren't worth what you have to pay for them (try re-selling a diamond)

If you buy a complete ring, you're usually getting quite ripped off. But if you buy a stone, complete with its certificate, it shall be worth what the market says it is worth. Competent jewelers will have no problem with you coming with a stone you bought or with an old family heirloom stone and put it on the ring you want: you'll pay his hours and the material for the ring but that's it. And the stone is worth its market price.

Diamonds above a certain size (whether they're natural or synthetic) are engraved now. You keep the certificate and you'll be able to resell it.

You can buy synthetic diamonds, they're cheaper than natural ones. And there's also a market for these.

Note that I'm not saying that the market ain't going down. What I'm saying is that you can definitely buy a stone at its market price and resell it at its market price. That's how the markets do work: be it stocks, gold or diamonds.

This was an article about wedding bands; solid bands of one material without precious stones.

I realize that, but much of the discussion here has mentioned engagement rings so I thought I'd chime in.

I ended up getting my wife two engagement rings and one band, one was a diamond that was from her grandmother, the other was a moissanite stone in a low-snag setting which would be easier for her to wear under gloves at work.

IMO this is quite simple: does the person who you're getting the ring for want a diamond? If yes, then get a diamond. If no, get whatever she wants. An engagement ring is a gift and the most important thing is what the recipient wants, not my (the giver's) opinion on whether or not engagement rings should have diamonds in them.

It seems as if diamond engagement rings became fashionable in the renaissance, even if it was only something nobility could afford.

Moissanite also looks prettier.