In a hypothetical world, if a diamond could be bought for $10K and sold for $10K, where is the risk? Then it's no longer for only rich, others can take a loan from a bank and purchase diamonds.
When I pay for a diamond, I don't pay for its intrinsic value. I pay for diamonds because other people around me feel they are expensive and you've to be rich enough to set your money on fire (like you do while purchasing a diamond). It's a signal for others that I am "fuck you money" rich.
The very same reason for which I purchase a sports car, yes a sports car does have some advanced engineering but the resale value is not same.
As long as diamond purchase price stays up I'll keep buying. Only thing I want is that no other people are able to acquire them for cheap when I am willing to pay a premium. (I hate price discrimination, i've also worked hard for my money, why should anyone get them cheap?)
Please stop treating me like a victim of De Beers campaign.