Diamonds Are Total BS

[Dr. Prunesquallor]

Originally Posted by BristolCavendish

What a racket and it's just amazing how so many people get sucked/suckered into this marketing scam. Probably the worst purchase someone can ever make as a diamond is neither an investment or a natural rarity. Just an overpriced, overblown piece of carbon that sparkles in the light. I've always suspected something fishy and this linked Huffington Post article succinctly sums it up.

http://www.huffingtonpost.com/rohin-...b_3708562.html

A jeweler might have you thinking otherwise with their inflated valuations and lofty appraisals but just try unloading one. A post-divorcee acquaintance attempted to do so and learned the hard way. Turns out her stone had been marked-up over 150% and was only worth about 40% of its current 'appraised value'.

If a "diamond is forever", 'forever' must be synonymous with a perpetual and ongoing rip-off. Grateful that the Mrs. never pressed for one (as I couldn't afford the recommended 3 months salary mandate at the time). Years later, as an anniversary gift I got her a mechanical TT Santos Dumont which seems to be holding up pretty well.

Hilarious post on a Rolex forum. Neither a diamond nor a Rolex can:

Feed my family
Shelter my family
Protect my family from threats

After that, everything is perception. My wife likes gold and diamonds. I like watches and cameras.


Sent from my iPhone using Tapatalk

[Dr. Prunesquallor]

Originally Posted by BristolCavendish

What a racket and it's just amazing how so many people get sucked/suckered into this marketing scam. Probably the worst purchase someone can ever make as a diamond is neither an investment or a natural rarity. Just an overpriced, overblown piece of carbon that sparkles in the light. I've always suspected something fishy and this linked Huffington Post article succinctly sums it up.

http://www.huffingtonpost.com/rohin-...b_3708562.html

A jeweler might have you thinking otherwise with their inflated valuations and lofty appraisals but just try unloading one. A post-divorcee acquaintance attempted to do so and learned the hard way. Turns out her stone had been marked-up over 150% and was only worth about 40% of its current 'appraised value'.

If a "diamond is forever", 'forever' must be synonymous with a perpetual and ongoing rip-off. Grateful that the Mrs. never pressed for one (as I couldn't afford the recommended 3 months salary mandate at the time). Years later, as an anniversary gift I got her a mechanical TT Santos Dumont which seems to be holding up pretty well.

By your argument, when I got married I should have gotten my wife a $50 CZ and she should have gotten me a fake Rolex.


Sent from my iPhone using Tapatalk

[jfp2476]

Woman's perspective here. Full disclosure, I'm neither a diamond lover nor hater. I do own some, all with sentimental value, 2 of which are vintage.

I find this thread hilarious. Think about how much you have spent on watches. For the flippers, think about how much $ you've (potentially) lost over time on each transaction. And think about why you do it.

Although I'm new to the forum, I've seen lots of threads where folks discuss the fact that watches should not be bought as investments. That they buy and wear them for the "feeling" they get. That they enjoy just looking at them. That watch buying is a hobby, a passion.

How is this, at it's core, any different from diamond buying/collecting/wearing? It's just a different medium to achieve the same end.

With respect to the mark-up and potential value loss, you can purchase branded diamonds at an AD (Hearts on Fire, etc.) at a huge premium, or, you can buy lovely unbranded diamonds at a discount from reputable online sellers (for example, Diamonds by Lauren) to save money.

People spend scads of money on all sorts of things that I wouldn't, and vice versa. To each their own, as long as it brings them happiness.



Sent from my XT1080 using Tapatalk

[BristolCavendish]

Originally Posted by Dr. Prunesquallor

By your argument, when I got married I should have gotten my wife a $50 CZ and she should have gotten me a fake Rolex.

Not at all (unless it represents your overall preferences). To each his/her own as this issue is essentially a personal and joint decision/call on the part of the two participating parties. Of course your local AD/jeweler and the magnanimous folks at DeBeers will always have your best interests at heart. Add to that monetary equation the various ad agencies (whose media/print presentations probably add to the cost of retail diamonds). Just saying.

Simply put, most retail diamonds are a consumer 'rip-off' with a minimal ROI. As a consumer, you can buy into the spiel or disregard it. As others have stated, perhaps the wholesale route is the most practical.

[superdog]

Originally Posted by jfp2476

Woman's perspective here. Full disclosure, I'm neither a diamond lover nor hater. I do own some, all with sentimental value, 2 of which are vintage.

I find this thread hilarious. Think about how much you have spent on watches. For the flippers, think about how much $ you've (potentially) lost over time on each transaction. And think about why you do it.

Although I'm new to the forum, I've seen lots of threads where folks discuss the fact that watches should not be bought as investments. That they buy and wear them for the "feeling" they get. That they enjoy just looking at them. That watch buying is a hobby, a passion.

How is this, at it's core, any different from diamond buying/collecting/wearing? It's just a different medium to achieve the same end.

With respect to the mark-up and potential value loss, you can purchase branded diamonds at an AD (Hearts on Fire, etc.) at a huge premium, or, you can buy lovely unbranded diamonds at a discount from reputable online sellers (for example, Diamonds by Lauren) to save money.

People spend scads of money on all sorts of things that I wouldn't, and vice versa. To each their own, as long as it brings them happiness.



Sent from my XT1080 using Tapatalk

Well said. Great post. Thanks.

[Cerachrom12]

Still a girls best friend, everything else pales! LOL

[fusionstorm]

Originally Posted by BristolCavendish

Not at all (unless it represents your overall preferences). To each his/her own as this issue is essentially a personal and joint decision/call on the part of the two participating parties. Of course your local AD/jeweler and the magnanimous folks at Rolex will always have your best interests at heart. Add to that monetary equation the various ad agencies (whose media/print presentations probably add to the cost of retail timepieces). Just saying.

Simply put, most modern retail Rolexes are a consumer 'rip-off' with a minimal ROI. As a consumer, you can buy into the spiel or disregard it. As others have stated, perhaps the wholesale route is the most practical.

Just to highlight the folly of your premise, I FIFY.

[BristolCavendish]

Originally Posted by fusionstorm

Just to highlight the folly of your premise, I FIFY.

Hmmm. Your clever altering of my initial quote from 'diamonds' to 'Rolex' does not take into consideration that while a Rolex may not qualify as the best investment one can make, it at least serves a practical function by indicating the time. Try doing that with a diamond.

[keschete]

I love diamonds! Same as watches really. I really don't see the difference as far as its something I like and want so I buy.

[fusionstorm]

Originally Posted by BristolCavendish

Hmmm. Your clever altering of my initial quote from 'diamonds' to 'Rolex' does not take into consideration that while a Rolex may not qualify as the best investment one can make, it at least serves a practical function by indicating the time. Try doing that with a diamond.

In this day and age when most everyone at a minimum has a mobile phone, the fact a Rolex can tell you the time is a difference maker equivalent to "mice nuts" over diamonds.

[VICI]

Like everything else, if you pay retail...

[jfp2476]

Originally Posted by BristolCavendish

Hmmm. Your clever altering of my initial quote from 'diamonds' to 'Rolex' does not take into consideration that while a Rolex may not qualify as the best investment one can make, it at least serves a practical function by indicating the time. Try doing that with a diamond.

Practical function? Weak argument when my cell phone and/or a $20 Timex can also tell me the time. Anyone who claims they buy a Rolex solely for timekeeping ability is suspect at best.

Sent from my XT1080 using Tapatalk

[Etschell]

Originally Posted by VICI

Like everything else, if you pay retail...

i tried this at chipolte but they would not budge on the guac.

[VICI]

Originally Posted by Etschell

i tried this at chipolte but they would not budge on the guac.

[Al1969]

Originally Posted by MonBK

Too dark for me.

[J!m]

Originally Posted by Air King Dan

If I recall correctly the "rule" about an engagement ring having to cost the equivalent of 3 months wages was a marketing ploy (scam) dreamt up by Tiffany & Co. At my peril I ignored it but had to make amends many years later with a significantly larger eternity ring!

Dan

I am in a similar situation... but the (interlocking pair) of one-off custom diamond paved wedding band(s) sort of softened that blow. Not the blow to my wallet of course.

I had a certain ring design in mind for the engagement and it had a lower grade stone set in an otherwise perfect piece. My wife has since upgraded the stone to an absolute stunner so it worked out in the end (although I'll never live it down).

[s14roller]

No one is forced to buy diamonds...

Most guys are probably also well aware this is a horrible financial move...but then again the list would go on and on (having an expensive wedding, engaging in a contractual relationship agreement with the state, ...)

[JohnnyH75]

I been very lucky when i got engage to my wife i gave her a one carrot ring she was so piss at me that i wasted so much money , that she nag me to get her a normal stainless steel wedding band instead so i did, i wear the gold band go figure , she thinks it is insane to pay so much for a shinny rock but again she is in accounting . The ring is in the safe for my little girl when she comes to age.

[nobbylon]

Retail items are nearly always a rip off but jewelery seems to be a big offender.
When I was needing to buy an engagement ring I was fortunate enough to be teaching a diamond setter to fly. I mentioned I needed a ring and my meager budget and a week later he turned up for his lesson with a small bag of stones to take home for my future wife to pick one. She then decided she'd like a couple of sapphire baguettes to frame the square she'd picked and the week after I had another bag of stones to choose from. Phil made her the ring himself at a fraction of retail and I would always advise buying stones seperate after learning from him.
It was the same with the wedding rings, he cut 2 from 18ct pipe and I remember paying £60 for both but that was over 20 years ago now.