On Mon 29 Sep 2003 at 13:01:59, Daniel Crookston said:
And that is why I have a box full of gold, rubies, sapphires, and diamonds
^^^^^^^^^^^^
in my bedroom. Hardest stuff of value there is, but it's not terribly liquid.
If you're looking for long-term investments, get rid of the diamonds. I've done a lot of research about them over the last month or so, and it looks like manufactured diamonds are going to be in very good shape to cause a huge industry shakeup within five years. I ended up buying one anyway because of the immediately associated non-monetary value (ie, the woman it's attached to), but I don't expect the stone to hold its appraised value over the next ten years.
As far as resale value goes diamonds have none. It may appraise at a certain value but you cannot sell it to a jeweler. Why? Think about it for a second, who sells diamonds? DeBeers. Can anyone else sell diamonds? No. Are you someone other than DeBeers? Absolutely.
If a jeweler starts to sell diamonds from someone other than DeBeers, DeBeers will stop selling to that jeweler.
Diamonds drop more in value than new cars.
BTW: If anyone's wondering, my wife's diamond is real, but I don't ever hope to exchange it for cash. It's value it purely sentimental.
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