3 ms·
I'm all for synthetic, cheaply produced diamonds replacing all others in these scam markets. For example, the re-sale loss often encountered from selling on tho
by Simon_O_Rourke 3y ago
I'm all for synthetic, cheaply produced diamonds replacing all others in these scam markets. For example, the re-sale loss often encountered from selling on those old diamonds you find lying around the house is often a 25% to 50% haircut [1]. It's not some old rusty Nissan for goodness sake, it's precisely the same thing you bought previously, with none of its apparent purpose diminished in any way.
[1] - https://www.brightonsavoy.com.au/why-does-a-diamond-have-no-resale-value/ https://www.brightonsavoy.com.au/why-does-a-diamond-have-no-...
- codingdave 3y agoYou have the question backwards - don't ask why diamonds don't have resale value... rather, ask why people think they are valuable in the first place? I'd think at this point it is common knowledge that they are not rare, and it is all marketing and market manipulation that keeps people spending a lot on them.
- injeolmi_love 3y agoWhen buying diamonds, be aware that most consumer name brand frqnchises will scam you. To protect yourself, you need to things: (1) a price sheet like from Rapaport and (2) an understanding of this diamond grading works. The most common craziness I saw while diamond shopping in USA was low quality diamonds but with large carat counts being sold at huge markups. Another thing to look out for is cheaper certifications; some certifications are much stricter on grades than others. GIA is reliable, look for it. You also need to read the etching of the diamonds cert number on the physical diamond yourself; in one instance a friend had his diamond swapped by the dealer, and proved it thru the physical etching.