Diamond Jewelry Selling Used
Q: My diamond engagement ring actually is worth 3 times what DH paid for it the
last time I had it appraised. Is it the gold that went up or the stone?
A:There is a difference between buying for investment and just
buying jewellery. For investment, one expects a higher
return at sale, as in selling for a higher price than the
stone was bought for.
That is very different than selling used jewellery. There
doesn't need to be a profit, although that can happen.
However, there is no need to take a loss.
I am an amateur but I have relatives who do make money in
selling jewellery. Should I ever want to sell anything, I
will let them do it, as they make good money at it.
The diamond industry has waged a successful marketing campaign since the early
70's. You know "a diamond is forever" and other such drivel. The sheep are too
stupid to see through the hype. My favorite pickup line in college was "yes I
am going to engineering school but I am doing that to get the money to be a
diamond investor, you know 2 carats and up". Girls are dumb when it comes to
diamonds.
Had a friend of mine who was getting married. Fiance is arguing with him for a
bigger rock, she turns to me and says, Chuck tell him they are a good
investment. I ask her if she would be willing to sell her ring after she got
it. "No" was her answer. I then explained that an investment was something you
bought and sold. Buying and holding "forever" was not an investment but a
purchase.
http://www.americanradioworks.org/features/diamonds/ny2.html
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