Popularly said that diamonds value drop by over 25-50% the sec you buy it. I know that diamonds value is low key de beers bullshit.
But what I wanna know is how do they calculate the diamond resale value and rational behind 50% resale value of something that never breaks or damages. How do they come up with this shit?
In: 1922
My wife told me she had heard that heirloom diamonds (and other types of jewelry) were passed down so that they could be sold if there was an emergency, like losing a house to a fire or becoming a widow. We did inherit some “expensive” jewelry from my wife’s grandmother, and, when times got particularly rough for us, we took it to a jeweler to see how much we could get for it. He said it was practically worthless, it looked too gaudy, he couldn’t resell it, and stripping down/melting it would not yield much money. He gave it back to me and said no thanks. He said “I do appraise jewelry for insurance, though. That’s another matter. These are probably worth a few thousand dollars insured. The insurance company would pay that much if it was lost.”
I came away feeling like I had pulled back a paving stone and seen the squirming creatures beneath it. Jewelry is not an investment and insurance is a scam.
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