Diamonds Aren't Forever

[wayiwalk]

Nice big picture view of the diamond industry crash.

I had no idea as my wife and I don't wear much jewelry; other than an old heirloom ring we never got around to selling a year or so ago, this doesn't hurt me but I had no idea of how the jewelers had also overextended themselves....

http://www.bloomberg.com/apps/news?p...d=adeU_YHAT0uQ

[metalman]

Re: Diamonds Aren't Forever

Nice big picture view of the diamond industry crash.

I had no idea as my wife and I don't wear much jewelry; other than an old heirloom ring we never got around to selling a year or so ago, this doesn't hurt me but I had no idea of how the jewelers had also overextended themselves....

http://www.bloomberg.com/apps/news?p...d=adeU_YHAT0uQ

but, but the diamond industry says...

http://www.abazias.com/diamondblog/d...ood-investment

In the growing fear of recession many industries are starting to feel a slowdown in business. Not so with diamonds. Diamonds are still proving to be a good investment. In fact, diamonds are actually a perfect recession-proof investment. A good diamond will always only increase in value. A recent report showed that while the purchase of other jewelry items might have decreased slightly diamond jewelry sales continued to increase. There are several reasons for this trend.

now those who fell for it say...

“We relied on diamonds, and they betrayed us,” Vilas Khoyani said, staring into space outside her parents’ home in Sanathali, 814 kilometers (506 miles) north of Mumbai, where she lives with her two sons, Diviesh and 4-year-old Tushar.

[D-Mack]

Re: Diamonds Aren't Forever

Really ? Between otc stocks and Real Estate

[skyson]

Re: Diamonds Aren't Forever

they say diamond is a marketing scam.

and this:

Have You Ever Tried to Sell a Diamond

[metalman]

Re: Diamonds Aren't Forever

Really ? Between otc stocks and Real Estate

looks like any asshat with a graphics program can make an inverted asset pyramid thingy.

[reallife]

Re: Diamonds Aren't Forever

In my scheme of things, there isn't much difference between diamonds and the other 'tangible' asset: gold. I prefer to be long on oil.

[Digidiver]

Re: Diamonds Aren't Forever

That is the same response I had a coworker give me a while back and I just shook my head.

[goadam1]

Re: Diamonds Aren't Forever

they say diamond is a marketing scam.

and this:

Have You Ever Tried to Sell a Diamond

Great article. Of course, it is from 1982. Did diamond prices collapse? I imagine they do not do well in deflation.

I buy diamond jewelry through a wholesaler. I get wholesale price plus a setting and a little mark-up. He can knock off most anything. Essentially, you pay about a third of retail. No blue box. As with any object, you have to consider all the mark-up in the system. $100 jeans only cost a couple of dollars to make.

It makes the Mrs. happy to "surprise" her. I consider jewelry in terms of consumption.

[santafe2]

Re: Diamonds Aren't Forever

Nice big picture view of the diamond industry crash.

I had a very insightful talk with a well known gem/gold reseller in Orange County early this summer. Like many others, my parents had invested in an investment grade diamond in the 80s. Later on my father had taken it to a jeweler to have it set so my mother could wear it. All in about $12,500.

As are most of us in this less is more world, she's paring back and asked me to have it appraised. Here are his observations:

• The diamond is beautiful. You're lucky as most investment grade diamonds from that era are just crap.
• The setting is excellent.
• The wholesale value today is about $4,000, I hope you don't need the money.

My mom gave it to my sister who is very happy to wear it. His advise: Diamonds are not an investment. Good advise.

[goadam1]

Re: Diamonds Aren't Forever

http://www.bloomberg.com/apps/news?p...id=adeU_YHAT0u

Diamonds Post-Lehman Have No Aura as Buffett Can’t See Recovery
Share | Email | Print | A A A

By Alan Katz, Subramaniam Sharma and Peter Robison


Sept. 15 (Bloomberg) -- A wooden swing hangs from a motorcycle chain on a porch in western India where Vilas Khoyani rocks her 7-month-old son, born eight days after her husband committed suicide. How they ended up in this two-room house starts with an unsold bag of diamond jewelry in Phoenix.

[goadam1]

Re: Diamonds Aren't Forever

Soon enough, a bubble will happen in Gold. You'll be proud of your early investment, if you time the trade.

I had a very insightful talk with a well known gem/gold reseller in Orange County early this summer. Like many others, my parents had invested in an investment grade diamond in the 80s. Later on my father had taken it to a jeweler to have it set so my mother could wear it. All in about $12,500.

As are most of us in this less is more world, she's paring back and asked me to have it appraised. Here are his observations:

• The diamond is beautiful. You're lucky as most investment grade diamonds from that era are just crap.
• The setting is excellent.
• The wholesale value today is about $4,000, I hope you don't need the money.

My mom gave it to my sister who is very happy to wear it. His advise: Diamonds are not an investment. Good advise.

[skyson]

Re: Diamonds Aren't Forever

Soon enough, a bubble will happen in Gold. You'll be proud of your early investment, if you time the trade.

i heard goadam1 is from the advertising industry? better learn a few tricks from N. W. Ayer, and say "My golden heart is for you", so every potential bride in the world will fall in a spell of dizziness at the first sight of the shinny gold ring from the proposing man, and we gold bugs laugh all the way to the bank....

[santafe2]

Re: Diamonds Aren't Forever

Soon enough, a bubble will happen in Gold. You'll be proud of your early investment, if you time the trade.

Gold is a hedge against currency inflation and uncertainty. As we win with gold, we lose. I find no pride in this, I want to be incorrect.

[cobben]

Re: Diamonds Aren't Forever

"You'll be proud of your early investment, if you time the trade"

Exactly, diamonds at some point will be a great investment, but you need specialist knowledge & deep pockets.

The only diamonds we have were free together with the used gold jewelry bought at scrap prices at auction. Nice to know you have a few diamonds lying around in case you need to cut some glass.

[D-Mack]

Re: Diamonds Aren't Forever

looks like any asshat with a graphics program can make an inverted asset pyramid thingy.

probably .