Diamonds are forever.

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
remomnyc
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Re: Diamonds are forever.

Post by remomnyc » Thu Dec 28, 2017 11:42 am

My friend's father met his wife in college when he didn't have two nickels to rub together. When I met his mother, his father was the CFO of a Fortune 500 company, but she still proudly wore the ring he had purchased 40 years before. She said it was a constant reminder of their beginnings. She declined when he offered to upgrade her when he became successful. If your wife wants to upgrade and you can afford it, go ahead. Just be a smart shopper by following the advice shared on this thread.

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bottlecap
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Re: Diamonds are forever.

Post by bottlecap » Thu Dec 28, 2017 11:55 am

Pigeon wrote:
Thu Dec 28, 2017 9:32 am
I have to chuckle at the men here clutching their proverbial pearls at the idea of buying a nice piece of jewelry for a special occasion for a woman when it's pretty common here to have threads about buying luxury cars or high end men's wristwatches.
Amen. If jewelry weren't worth it to some people, it wouldn't sell. So clearly there is a market and it's not a waste to everyone. Cars depreciate, too. Yet most people, even on this site, prefer buying new. So I'm not shocked that "used" wedding rings don't go for top dollar.

If anyone thinks it is a waste, PM me the list of things you bought in the last ten years. I have an opinion, just like everyone else, and will be glad to tell you where I think you are pouring your money down a rat hole. And I'll do it for free...

At least jewelry will last forever. I couldn't care less about a diamond, of course, but guarantee my wife has gotten more use and enjoyment out of her ring than I will ever get out of anything I or any other man owns. In that sense, it's the best money I/we ever spent.

OP, there is no need to spend a certain amount of salary. Find out what size she wants, and go shopping with her. Find a few she likes and decide whether the price is worth it to you (or her). Maybe it will only turn out to be two weeks salary!

JT

MarkBarb
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Re: Diamonds are forever.

Post by MarkBarb » Thu Dec 28, 2017 2:27 pm

ccieemeritus wrote:
Thu Dec 28, 2017 11:17 am
Original ring (from when we were poor) was from Montgomery Ward. As our financial situation improved DW was unhappy with that ring.

Years later got a nice ring from Blue Nile. Very sparkley. DW happy. DW and I picked it out online together (we don’t “surprise” with major purchases).

Order a ring/finger size kit in advance. At the time we bought Costco was not selling custom sizes, otherwise we might have considered Costco.
Our original wedding ring (from when we were poor) was from Service Merchandise. I never got her an engagement ring. I offered her the choice of the ring or our keeping and saving the money. She opted for the latter. She eventually lost her $30 wedding ring. She replaced it by buying a replicate of the One Ring on Amazon for $8. I think I married well (although I'm afraid of wearing a ring now lest she use her ring to control me).

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gasdoc
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Re: Diamonds are forever.

Post by gasdoc » Thu Dec 28, 2017 8:20 pm

This is the OP. We went together to the local store, and decided to go with just adding two smaller diamonds to the solitary diamond she already has. The two diamonds were priced at $4.1K each. The sales lady said she could give us a good deal, and dropped the price to $2.1K each. I got the "stats" on the ring and looked up pricing on Blue Nile. There were probably 100 of the same grade diamonds for about $1.3K, a savings of $1600 for the pair. DW is having second thoughts about even doing anything to the original ring, but if we do we will probably order the two diamonds from Blue Nile, and have a local store put them on each side of the original solitary diamond. Thanks!

gasdoc

centrifuge41
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Re: Diamonds are forever.

Post by centrifuge41 » Thu Dec 28, 2017 8:44 pm

Two round brilliant diamonds? May I recommend the ~5% premium shopping on James Allen instead. Two diamonds can have very similar specs, but look rather different. The pictures can often be worth the small price premium. What's more, sometimes you'l find a given stone on James Allen, see the picture, then google for the GIA number and find that Blue Nile sells that exact stone after all. Free picture viewing. Upromise and BeFrugal portals have 5% cashback at Blue Nile. Using a referral coupon code will disqualify this.

HIinvestor
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Re: Diamonds are forever.

Post by HIinvestor » Thu Dec 28, 2017 8:46 pm

OP, sounds like you have nice options. I still have my ring from 1985 and wouldn’t want any upgrade myself. The ring still is just right for me and I rarely ever take it off.

I’m sure you and your W will make choices that work for the two of you.

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gasdoc
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Re: Diamonds are forever.

Post by gasdoc » Fri Dec 29, 2017 7:56 am

Thanks for the comments everyone! They are all helpful.

gasdoc

mouses
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Re: Diamonds are forever.

Post by mouses » Fri Dec 29, 2017 8:19 am

gotester2000 wrote:
Wed Dec 27, 2017 12:45 pm
How about buying pure gold ring? Gold has standard rates compared to diamonds - I am just talking about the financial aspect of it.
I would not be comfortable wearing a diamond ring, since two family members lost the stones from their engagement rings, which had a severe emotional impact. I guess having them checked periodically by a jeweler (I have no idea if they did this) might have prevented this.

I like gold rings and bracelets, but particularly rings. I would be interested to know if gold is like diamonds in its value plummeting once you walk out the door of the store.

gotester2000
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Re: Diamonds are forever.

Post by gotester2000 » Fri Dec 29, 2017 10:06 am

mouses wrote:
Fri Dec 29, 2017 8:19 am
gotester2000 wrote:
Wed Dec 27, 2017 12:45 pm
How about buying pure gold ring? Gold has standard rates compared to diamonds - I am just talking about the financial aspect of it.
I would not be comfortable wearing a diamond ring, since two family members lost the stones from their engagement rings, which had a severe emotional impact. I guess having them checked periodically by a jeweler (I have no idea if they did this) might have prevented this.

I like gold rings and bracelets, but particularly rings. I would be interested to know if gold is like diamonds in its value plummeting once you walk out the door of the store.
Gold has a standard value based on its purity - and generally increases in value with inflation. It doesnt plummet when you walk out of the store or sell anywhere in the world. When you buy/sell gold jewellery you lose upon the labor charges and the added impurity - you cannot make jewellery from pure gold. If you buy/sell bullion(pure gold 24k/999) you wont lose on the other charges. To summarize, gold has standard rates while diamond doesnt.

dbr
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Re: Diamonds are forever.

Post by dbr » Fri Dec 29, 2017 10:35 am

gotester2000 wrote:
Fri Dec 29, 2017 10:06 am
mouses wrote:
Fri Dec 29, 2017 8:19 am
gotester2000 wrote:
Wed Dec 27, 2017 12:45 pm
How about buying pure gold ring? Gold has standard rates compared to diamonds - I am just talking about the financial aspect of it.
I would not be comfortable wearing a diamond ring, since two family members lost the stones from their engagement rings, which had a severe emotional impact. I guess having them checked periodically by a jeweler (I have no idea if they did this) might have prevented this.

I like gold rings and bracelets, but particularly rings. I would be interested to know if gold is like diamonds in its value plummeting once you walk out the door of the store.
Gold has a standard value based on its purity - and generally increases in value with inflation. It doesnt plummet when you walk out of the store or sell anywhere in the world. When you buy/sell gold jewellery you lose upon the labor charges and the added impurity - you cannot make jewellery from pure gold. If you buy/sell bullion(pure gold 24k/999) you wont lose on the other charges. To summarize, gold has standard rates while diamond doesnt.
Exactly so, but that does not mean the piece itself can be resold without taking a hit against what one paid. It isn't just losing the labor cost but also the retail mark-up.

smectym
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Re: Diamonds are forever.

Post by smectym » Sun Feb 10, 2019 1:21 am

An interesting if conflicted thread.

So is the consensus among the knowledgeable ones on this board (I know nothing about diamonds) that diamonds are a disaster considered as an investment?

One occasionally runs across romantic tales about refugees converting their cash into diamonds before fleeing across the border of totalitarian dystopia X
to build a new life in wonderful democracy Y. Always a bad idea? No plausible investment case ever for “investing in diamonds” as a store of value?

The impression one gets from the posts above is that the second you walk out of the jewelry store your diamond purchase might as well have come free in a box of cracker-jacks.

Smectym

smectym
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Re: Diamonds are forever.

Post by smectym » Sun Feb 10, 2019 1:32 am

Say someone buys this diamond on Amazon for $7K and change, as advertised.

https://www.amazon.com/Certified-Round- ... s=Diamonds

Now that the proud owner owns it, what could proud owner resell it for? As a generic rule of thumb. Trying to ascertain the ‘store of value’ quantum.

Smectym

CurlyDave
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Re: Diamonds are forever.

Post by CurlyDave » Sun Feb 10, 2019 2:30 am

smectym wrote:
Sun Feb 10, 2019 1:21 am
... One occasionally runs across romantic tales about refugees converting their cash into diamonds before fleeing across the border of totalitarian dystopia X
to build a new life in wonderful democracy Y. Always a bad idea? No plausible investment case ever for “investing in diamonds” as a store of value?

The impression one gets from the posts above is that the second you walk out of the jewelry store your diamond purchase might as well have come free in a box of cracker-jacks.

Smectym
I once tried to sell a diamond from a failed relationship. It was many decades ago, but a $1000 purchase got me a $20 offer. I put it in a dresser drawer and lost track of it over the years...

ohai
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Re: Diamonds are forever.

Post by ohai » Sun Feb 10, 2019 2:39 am

Shouldn't wife take a look at the diamonds and decide how much of a Cadillac she wants on her finger? The money is wasted ultimately, but at least someone should try to quantify what benefit you'd derive from the jewelry, not just how much people spend on average. When I got married, I got wife a ring that cost $2600 from Blue Nile. Wife doesn't wear it around. It would have made no difference if I had bought a cheaper or more expensive ring.

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jabberwockOG
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Re: Diamonds are forever.

Post by jabberwockOG » Sun Feb 10, 2019 9:08 am

DrGoogle2017 wrote:
Wed Dec 27, 2017 11:31 am
While Tiffany is expensive, but diamonds are for bragging factor. The minute you bought a diamond and walk out the door, you already lose more than 1/2 the value. But at Tiffany, you can have it repaired for free. I certainly don’t feel proud wearing it if I said my husband bought mine from Costco.
Conspicuous consumption at its finest.


As a practical note anytime you buy a loose stone and give it to a jeweler to mount make sure you have a verifiable way to insure you actually got your specific diamond back in that ring. Lots of hustlers in the jewelry business because there are lots of gullible folks buying the stuff.

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Sandtrap
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Re: Diamonds are forever.

Post by Sandtrap » Sun Feb 10, 2019 9:25 am

gasdoc wrote:
Wed Dec 27, 2017 10:05 am
I am looking to upgrade the wedding rings for DW. Aside from the convenience of walking into the local jewelry store, what is the best way to buy jewelry with diamonds? Online? New York? The Caribbean? Your "Friend in the Diamond Business?" I am not sure how to actually compare prices on jewelry. What is an appropriate amount to spend? Not sure about that "6 months of salary" the jewelry stores like to peddle. Also not sure about how best to "upgrade" with DW being somewhat superstitious about just wearing a new ring. Thanks!

gasdoc
Highly suggest all decisions delegated to CEO and HR on the top floor for this = DW :happy
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Halicar
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Re: Diamonds are forever.

Post by Halicar » Sun Feb 10, 2019 9:48 am

p0nyboy wrote:
Wed Dec 27, 2017 10:35 am
First of all...diamonds arent rare. If any salesperson ever says this to you explain to them they're not rare...you can walk into any jewelry store and they will have thousands of diamonds for sale.
Jewelry store? Heck, walk into any hardware store and look at the shelves full of diamond saw blades and then tell me how rare and valuable they are :D

dekecarver
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Re: Diamonds are forever.

Post by dekecarver » Sun Feb 10, 2019 10:15 am

Just ask your wife how much she wants to show and go get it; just remember what you buy is marked up about 4 times give or take so you are already taking a bath but its about what makes her happy. Moisannite can be a very good alternative.

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midareff
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Re: Diamonds are forever.

Post by midareff » Sun Feb 10, 2019 10:35 am

dbr wrote:
Wed Dec 27, 2017 10:23 am
gasdoc wrote:
Wed Dec 27, 2017 10:05 am
What is an appropriate amount to spend? Not sure about that "6 months of salary" the jewelry stores like to peddle.
Only DW can answer that. For my DW the answer is unequivocally zero.
I took mine to a jeweler friend to look at rings and she said gold and diamonds didn't mean anything, leave the money in the bank and retire with me earlier. Obviously, we both have diamonds.

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Sandtrap
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Re: Diamonds are forever.

Post by Sandtrap » Sun Feb 10, 2019 11:06 am

midareff wrote:
Sun Feb 10, 2019 10:35 am
dbr wrote:
Wed Dec 27, 2017 10:23 am
gasdoc wrote:
Wed Dec 27, 2017 10:05 am
What is an appropriate amount to spend? Not sure about that "6 months of salary" the jewelry stores like to peddle.
Only DW can answer that. For my DW the answer is unequivocally zero.
I took mine to a jeweler friend to look at rings and she said gold and diamonds didn't mean anything, leave the money in the bank and retire with me earlier. Obviously, we both have diamonds.
Perfect, Marty.
DW said the same thing.
:happy
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pdavi21
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Re: Diamonds are forever.

Post by pdavi21 » Sun Feb 10, 2019 11:10 am

Upgrade? Just let your wife pick it. She knows what she wants.
"We spend a great deal of time studying history, which, let's face it, is mostly the history of stupidity." -Stephen Hawking

carol-brennan
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Re: Diamonds are forever.

Post by carol-brennan » Sun Feb 10, 2019 11:14 am

My opinions about rings (marriage or otherwise): ridiculous waste of money.

DrGoogle2017
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Re: Diamonds are forever.

Post by DrGoogle2017 » Sun Feb 10, 2019 11:50 am

jabberwockOG wrote:
Sun Feb 10, 2019 9:08 am
DrGoogle2017 wrote:
Wed Dec 27, 2017 11:31 am
While Tiffany is expensive, but diamonds are for bragging factor. The minute you bought a diamond and walk out the door, you already lose more than 1/2 the value. But at Tiffany, you can have it repaired for free. I certainly don’t feel proud wearing it if I said my husband bought mine from Costco.
Conspicuous consumption at its finest.


As a practical note anytime you buy a loose stone and give it to a jeweler to mount make sure you have a verifiable way to insure you actually got your specific diamond back in that ring. Lots of hustlers in the jewelry business because there are lots of gullible folks buying the stuff.
It’s all about brand, you lose money when you buy these things, don’t kid yourself.

GT99
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Re: Diamonds are forever.

Post by GT99 » Sun Feb 10, 2019 11:59 am

Diamonds are the greatest marketing scam of all time. DeBeers has spent the last 100 years convincing people that diamonds = love (diamonds were not commonly used for engagement/wedding rings prior to the past 100 years). Doesn't matter that they aren't rare, and that there are fake diamonds that are just as pretty to the naked eye and cost a fraction of the real thing. People still want diamonds because DeBeers has convinced them to want diamonds.
There's a reason some business schools create entire classes based on what DeBeers has done.

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jabberwockOG
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Re: Diamonds are forever.

Post by jabberwockOG » Sun Feb 10, 2019 5:09 pm

DrGoogle2017 wrote:
Sun Feb 10, 2019 11:50 am
jabberwockOG wrote:
Sun Feb 10, 2019 9:08 am
DrGoogle2017 wrote:
Wed Dec 27, 2017 11:31 am
While Tiffany is expensive, but diamonds are for bragging factor. The minute you bought a diamond and walk out the door, you already lose more than 1/2 the value. But at Tiffany, you can have it repaired for free. I certainly don’t feel proud wearing it if I said my husband bought mine from Costco.
Conspicuous consumption at its finest.


As a practical note anytime you buy a loose stone and give it to a jeweler to mount make sure you have a verifiable way to insure you actually got your specific diamond back in that ring. Lots of hustlers in the jewelry business because there are lots of gullible folks buying the stuff.
It’s all about brand, you lose money when you buy these things, don’t kid yourself.

Paying 50% more for a virtually identical diamond ring because it comes in a blue cardboard box from overpriced marketing hyped Tiffany instead of Costco is conspicuous consumption at its finest. Some folks are definitely kidding themselves by buying these expensive gewgaws.

walkerbait
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Re: Diamonds are forever.

Post by walkerbait » Sun Feb 10, 2019 5:36 pm

I agree with everyone who says diamonds are a waste of money and not rare, etc. But, it's a popular thing in our culture and some people want to buy them even if they aren't good investments.

We used whiteflash.com to purchase my wife's diamond and had them do a custom ring to go along with it -- After 12 years we could not be happier. It isn't the biggest diamond, it isn't the fanciest, but she has yet to see a ring/diamond she likes better, in all that time. We paid more than we should have at the time, but we won't ever upgrade it and we've gotten a lot of enjoyment out of it. I can't recommend the business strongly enough for anyone who has decided they plan to purchase a diamond/ring.

DrGoogle2017
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Re: Diamonds are forever.

Post by DrGoogle2017 » Mon Feb 11, 2019 11:47 am

jabberwockOG wrote:
Sun Feb 10, 2019 5:09 pm
DrGoogle2017 wrote:
Sun Feb 10, 2019 11:50 am
jabberwockOG wrote:
Sun Feb 10, 2019 9:08 am
DrGoogle2017 wrote:
Wed Dec 27, 2017 11:31 am
While Tiffany is expensive, but diamonds are for bragging factor. The minute you bought a diamond and walk out the door, you already lose more than 1/2 the value. But at Tiffany, you can have it repaired for free. I certainly don’t feel proud wearing it if I said my husband bought mine from Costco.
Conspicuous consumption at its finest.


As a practical note anytime you buy a loose stone and give it to a jeweler to mount make sure you have a verifiable way to insure you actually got your specific diamond back in that ring. Lots of hustlers in the jewelry business because there are lots of gullible folks buying the stuff.
It’s all about brand, you lose money when you buy these things, don’t kid yourself.

Paying 50% more for a virtually identical diamond ring because it comes in a blue cardboard box from overpriced marketing hyped Tiffany instead of Costco is conspicuous consumption at its finest. Some folks are definitely kidding themselves by buying these expensive gewgaws.
Buying diamond ring is already a stupid or conspicuous consumption already, why not buy cubic zirconia instead.

canbonbon
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Re: Diamonds are forever.

Post by canbonbon » Mon Feb 11, 2019 1:03 pm

GIA certified and laser inscribed diamonds that are G/H color or above, Vs1/Vs2 or above with excellent cut do *NOT* loose their value (Industry terms). Whoever said that diamonds loose 50% of their as soon as you buy them has clearly never bought one that is GIA certified and laser inscribed otherwise they wouldn't say such a thing. Diamond values have historically gone up.

https://astardiamonds.com/images/diamon ... PRICE1.png
or
https://www.statista.com/statistics/279 ... -diamonds/

In most cases however, a buyer relies on the jeweller's assessment and gets scammed. That is why there is this notion of diamonds loosing their value. Actually the diamond does not loose its value, it perhaps gained a few dollars after your purchase. The real issue is that you paid *So much more* than its actual value, that you will be in loss for a long long time (even if it is price continues to grow).

You will be fine if you buy a GIA certified and laser inscribed diamond. There are various websites that sell loose diamonds online so you can check its price and authenticity online before buying.

In short:
1) You are better off avoiding jewelry all together. It can be considered a waste of money. But that is a different discussion (with endless possibilities as to where to draw the line). Hundreds of folks here will have different notion about clothing, cars, or anything shiny.
2) If you still want to see that smile on her face when she sees the ring and want to make a purchase, just be an informed buyer and buy a certified diamond object (ring, etc). You'd be fine.
3) Do not buy a diamond jewelry from investment prospective. However, diamonds tend to grow in value (despite what the folks here are saying).

Good luck.

Pigeon
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Re: Diamonds are forever.

Post by Pigeon » Mon Feb 11, 2019 1:23 pm

smectym wrote:
Sun Feb 10, 2019 1:21 am
An interesting if conflicted thread.

So is the consensus among the knowledgeable ones on this board (I know nothing about diamonds) that diamonds are a disaster considered as an investment?

One occasionally runs across romantic tales about refugees converting their cash into diamonds before fleeing across the border of totalitarian dystopia X
to build a new life in wonderful democracy Y. Always a bad idea? No plausible investment case ever for “investing in diamonds” as a store of value?

The impression one gets from the posts above is that the second you walk out of the jewelry store your diamond purchase might as well have come free in a box of cracker-jacks.

Smectym
It's not really so much about the stones keeping (or growing) in value. Your average person buying a diamond ring is buying retail in an industry with a pretty substantial mark-up. When the same person wants to sell the stone, they are generally trying to sell outside the supply chain to what is essentially wholesale.

A440
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Re: Diamonds are forever.

Post by A440 » Mon Feb 11, 2019 1:39 pm

I clicked on this thinking it was about one of my favorite James Bond films. :oops:
I don't know what the future holds, but I know who holds my future.

DrGoogle2017
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Re: Diamonds are forever.

Post by DrGoogle2017 » Mon Feb 11, 2019 2:22 pm

Pigeon wrote:
Mon Feb 11, 2019 1:23 pm
smectym wrote:
Sun Feb 10, 2019 1:21 am
An interesting if conflicted thread.

So is the consensus among the knowledgeable ones on this board (I know nothing about diamonds) that diamonds are a disaster considered as an investment?

One occasionally runs across romantic tales about refugees converting their cash into diamonds before fleeing across the border of totalitarian dystopia X
to build a new life in wonderful democracy Y. Always a bad idea? No plausible investment case ever for “investing in diamonds” as a store of value?

The impression one gets from the posts above is that the second you walk out of the jewelry store your diamond purchase might as well have come free in a box of cracker-jacks.

Smectym
It's not really so much about the stones keeping (or growing) in value. Your average person buying a diamond ring is buying retail in an industry with a pretty substantial mark-up. When the same person wants to sell the stone, they are generally trying to sell outside the supply chain to what is essentially wholesale.
Exactly, it doesn’t matter if it’s GIA certified or not. Don’t kid yourself.

Thesaints
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Re: Diamonds are forever.

Post by Thesaints » Mon Feb 11, 2019 2:55 pm

I recently read that Chinese synthetic diamonds are coming on the market at one third of the price. Essentially undistinguishable from natural ones..

canbonbon
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Re: Diamonds are forever.

Post by canbonbon » Mon Feb 11, 2019 3:00 pm

DrGoogle2017 wrote:
Mon Feb 11, 2019 2:22 pm
Exactly, it doesn’t matter if it’s GIA certified or not. Don’t kid yourself.
I think people here are confusing a couple of things. First, diamonds are not an *investment* so stop confusing the two. You should not buy thinking they will go up in value. Second, selling anything with high value is a bad idea, you'd be lucky to get anything out of it. I mean try selling designer clothes, shoes, cars, electronics or anything shiny. So why are diamonds being held to a different standard? If we try to sell a diamond back to your local jeweler (certified or not) he has no incentive to buy. So the second confusion is if the OP is buying a diamond to sell or to wear? All posts are pointing to a price that would be realized after a *SELL*. As I said in my post above, if he is buying for the happiness of wearing it all the points mentioned are mute. People eat in high end Restaurants and willingly pay $100 for a dish that they can have for $10. Why? They buy designer shoes/clothes/purses where they can buy them at a fraction of a cost, why? Look at sales of all high end cars. If you just need transportation why not just buy cheapest car out there (probably even used one). Then why we have high end car sales going up every year? I guess there is no end to this discussion. OP should buy it for the pleasure of wearing it and *NOTHING* else.

Dottie57
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Re: Diamonds are forever.

Post by Dottie57 » Mon Feb 11, 2019 3:06 pm

carol-brennan wrote:
Sun Feb 10, 2019 11:14 am
My opinions about rings (marriage or otherwise): ridiculous waste of money.
Not me. I love a big chunky ring. I really like estate/older jewelry. New is pretty but some older rings are also stunning. However the last piece I bought was a lovely aquamarine, not a solitaire diamond.

alfaspider
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Re: Diamonds are forever.

Post by alfaspider » Mon Feb 11, 2019 3:15 pm

At the end of the day, you pretty much have to buy what makes your significant other happy. Buying anything more than a $20-30 piece of costume jewelry is already beyond a pure rational purchase. From a personal security standpoint, I'd be concerned by carrying something worth thousands on my person at all times- especially something that has emotional significance.

I do find the Tiffany thing particularly silly. Other than the engraved branding on the inside of the ring, you can buy something that nobody who is not a professional jeweler examining with a loupe could distinguish for less than 1/2 the price.

On the shopping side: we bought ours in the NY diamond district. They definitely have a certain amount of shadiness there, but at the end of the day the diamond looked just as good as the department store stuff at a fraction of the price- at least to my untrained eye. They undercut Blue Nile by about 20% and had the advantage of being able to look at the stone before buying.

rotLobster
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Re: Diamonds are forever.

Post by rotLobster » Mon Feb 11, 2019 3:18 pm

it has been a long time ago.. but..

a friend of mine decided he wanted to dabble in diamonds. got to know how to judge value, worked with some jewelers...

bought a diamond at a local outdoor market for 4 or 5k and sold it for 20k. obviously the diamond was very high quality and he knew what he was looking at.

i tried the market myself. bought a diamond at 'wholesale'. i did get my money back but not something i wanted to continue.

at retail its a scam. i equate buying diamonds for engagement rings along with buying new york from the indians for a sack of beans.

things have changed since my friend dabbled in this business. supposedly synthetic diamonds are available for less and are real diamonds no different from what is dug out of the ground.

at one time, true one-carat (or better) flawless with clarity bought at wholesale held their value. i do know if that is still true. (obviously buying a wholesale .. is key here).

dekecarver
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Re: Diamonds are forever.

Post by dekecarver » Mon Feb 11, 2019 7:28 pm

delete

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Re: Diamonds are forever.

Post by andypanda » Mon Feb 11, 2019 7:44 pm

Whiteflash has a great trade in policy. All you have to do is spend at least $1 more than what you paid for your diamond and they will give you full credit for the original amount. Not a bad deal if you can't afford what you really want this year, but can next year. Full credit.

And their diamonds are superbly cut; so-called super ideals and not something you'll find at the local jewelry store. There are only a few dealers of super ideal diamonds.

If you don't want a diamond, don't get a diamond. It's okay with me. I'm not trying to convince anyone of anything - except that the mall stores sell poorly cut diamonds.

My wife loves hers - a 1.5 carat F VVS2 from Whiteflash. Everybody loves the fire and sparkle. I wanted her to have a 2 carat but she said it was too big on her skinny little finger. I spend my money on multiple $649 Conquest bass rods and $400 and $500 reels and on my other hobbies. She has her forever ring and spoils her grandson. We're happy.

You can't take it with you.

Tribonian
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Re: Diamonds are forever.

Post by Tribonian » Tue Feb 12, 2019 10:41 am

I still favor a ring that is genuinely rare rather than artificially rare and see zero value in something artificial. I’m intrigued by ancient jewelry like this Roman wedding ring from the III or IV century:

https://www.ancient-jewellery.com/en-GB ... GLnO6SIbDs

Or this one with a glass intaglio of Venus/Aphrodite:

https://medusa-art.com/antiquities-gall ... aglio.html

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gasdoc
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Re: Diamonds are forever.

Post by gasdoc » Tue Feb 12, 2019 8:28 pm

This is the original OP. Surprised to see this old thread revived! I went with DW to look at jewelry. While we were there, the jeweler cleaned her current ring real well. She decided she liked the one she had and so we never did replace the ring. Best wishes!

gasdoc

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monkey_business
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Re: Diamonds are forever.

Post by monkey_business » Tue Feb 12, 2019 11:59 pm

I don't really understand the concept of upgrading engagement rings. The ring is meant to be a symbol of something, and come from a person's heart. If you upgrade it, you just turn into a meaningless piece of jewelry, with more bling overriding emotional value.

Maybe it's just me.

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gasdoc
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Re: Diamonds are forever.

Post by gasdoc » Wed Feb 13, 2019 8:57 am

monkey_business wrote:
Tue Feb 12, 2019 11:59 pm
I don't really understand the concept of upgrading engagement rings. The ring is meant to be a symbol of something, and come from a person's heart. If you upgrade it, you just turn into a meaningless piece of jewelry, with more bling overriding emotional value.

Maybe it's just me.
That was the unspoken part. A good cleaning made it acceptable, and she really didn't want to change rings. Have a good day.

gasdoc

andypanda
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Re: Diamonds are forever.

Post by andypanda » Wed Feb 13, 2019 9:10 am

"If you upgrade it, you just turn into a meaningless piece of jewelry, with more bling overriding emotional value."

From the little I've read on Pricescope, quite a few folks take the original diamond and have it set into a pendant or earring. Or maybe a ring for the right hand. Or sometimes they use it as one of the side stones on the new engagement ring.

Seeing that I was 67 when she got her engagement ring last year I don't think we will be upgrading until, oh, 2030 or 2035 or so. :wink:

apex84
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Re: Diamonds are forever.

Post by apex84 » Wed Feb 13, 2019 12:11 pm

An alternative to changing the original ring would be to get a new band and keep the ring unaltered. There are many prices and styles. The two that stood out when we looked were from Furrer Jacot (pricey, but nice designs) and Oscar Heyman (hard to find the bands online, made in New York, the rest of their line is movie star level jewelry, but can find bands for much less).

My wife tends to wear her wedding band far more than her ring. We had them sized for the engagement ring on her left hand and wedding band on right hand. She often wears the band on the left hand, so we'll probably get another band that's sized a little smaller.

https://www.furrer-jacot.com/us
https://www.oscarheyman.com
https://www.mccaskillandcompany.com/bri ... eyman.html [the bands aren't on the website, but I found pics here]

Valuethinker
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Re: Diamonds are forever.

Post by Valuethinker » Thu Feb 14, 2019 11:34 am

The De Beers diamond monopoly and price maintenance strategy is in the business economics textbooks - it is an absolute classic.

There seems to be just a huge gap in value between retail price for diamonds v. wholesale & resale value.

That suggests that some of the old market structure still pertains.

Diamonds have sentimental value, primarily. They don't seem to have much intrinsic value.

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