In the first [account of the Second Age (The Rings of Power)] we see a sort of second fall or at lea

In the first [account of the Second Age (The Rings of Power)] we see a sort of second fall or at least ‘error’ of the Elves. There was nothing wrong essentially in their lingering against counsel, still sadly with the mortal lands of their old heroic deeds. But they wanted to have their cake without eating it. They wanted peace and bliss and perfect memory of 'The West’, and yet remain on the ordinary earth where their prestige as the highest people, above wild Elves, dwarves, and Men, was greater than at the bottom of the hierarchy of Valinor. They thus became obsessed with 'fading’, the mode in which the changes of time (the law of the world under the sun) was perceived by them. They became sad, and their art (shall we say) antiquarian, and their efforts all really a kind of embalming–even though they also retained the old motive of their kind, the adornment of earth, and the healing of its hurts. … There arose a friendship between the usually hostile folk (of Elves and Dwarves) for the first and only time, and smithcraft reached its highest development. But many of the Elves listened to Sauron. He was still fair in that early time, and his motives and those of the Elves seemed to go partly together: the healing of the desolate lands. Sauron found their weak point in suggesting that, helping one another, they could make Western Middle-earth as beautiful as Valinor. It was really a veiled attack on the gods, an incitement to try and make a separate independent paradise. Gilgalad repulsed all such overtures, as also did Elrond. But at Eregion great work began–and the Elves came their nearest to falling to ’magic’ and machinery. With the aid of Sauron’s lore they made the Rings of Power….

–J.R.R. Tolkien, The Letters of J.R.R. Tolkien, 131 (Art by Angus McBride)