Diamond ring question

[Leejai]

get your money back...buy 1/2 oz. of gold w/ that...better investment than a 1/2ct total weight?..so it's not even one stone?...

yea..don't waste your money.....BAD USE OF MONEY (i can't even attempt to call that an investment)

 

[ColdFusion718]

you're a cheap bastard

 

[Eli]

Did you just say you bought a ring from Wal-Mart as an investment?

/bangs head against wall

 

[DBL]

I'm assuming this is a joke.

However, as someone who is employed in the Jewelry industry, investing in diamonds (loose or mounted) and paying wholesale prices (not to mention retail) is generally a bad investment. The diamond and metal make up only a small fraction of the actual price when purchased in the retail market.

 

[40Hands]

Originally posted by: Tsosczb

EFF DE BEERS

 

[AdamSnow]

I would never buy a ring from Walmart.

 

[bwnv]

WTF First, why were you looking @ rings in wallyworld ?
Second, where did you ever get the idea a diamond ring would be a good investment?

Did you know you can buy Mint Proof coins from the mint ? As an added bonus no tax.

 

[dirtboy]

Originally posted by: jerryjg
I want this ring for an investment.

What annual rate of return to you expect from this ring?

What appreciation are you hoping to earn?

When do you plan on selling it?

Is there a price the ring has to appreciate to before you will sell it and if so, what is that amount?

What costs will you have associated with selling this ring?

How much will it cost to store the ring at the bank?

Will the costs be more than your appreciation?

 

[Patt]

Don't buy diamonds for investment purposes. Buy something that will appreciate. Unless you wanna give it to someone in hopes they'll marry you, then they are worth it.

 

[hjo3]

> Topic Title: Diamond ring question
> Topic Summary: should i buy this diamond ring?

The answer to this question is always no.

 

[JackRipper]

Originally posted by: jerryjg
I put a diamond ring on layway at Wal-mart, and I have to decide if i wanna get it out .Its due by the 20th of September. Heres what it is: its a 1/2 Karat total weight 14KT. yellow gold diamond ring. It was originally 399.99, but was clearance priced at 199.00.I had never seen a deal this good on a ring like this, so thats why i put 20.00 down.I want this ring for an investment. to put in my safety posit box with some other jewelry. what do you think. Im broke now, so i would have to take a new Cannon A510 digital camera back to wal-mart (i got it on clearance marked down to 130.00 from 195.00) to be able to get the ring out, so i have mixed feelings.

Buying a diamond at Walmart is a terrible decision to make. Depending on the size of each individual stones 1/2 carat total weight doesnt mean nething as the diamonds = worthless if they are small. My parents would sell a ring sometimes giving the customer the ring free as well as the supporting diamond clusters just so they could sell the main diamond.

The diamonds at say Walmart/Target/K-mart etc = scrap diamonds... jewelery in general there are pretty much cheap; both worthless and easy to sell... ur better off buying knockoffs or Moissonites...


-JR

 

[IHateMyJob2004]

Originally posted by: jerryjg
I put a diamond ring on layway at Wal-mart, and I have to decide if i wanna get it out .Its due by the 20th of September. Heres what it is: its a 1/2 Karat total weight 14KT. yellow gold diamond ring. It was originally 399.99, but was clearance priced at 199.00. I had never seen a deal this good on a ring like this, so thats why i put 20.00 down.I want this ring for an investment. to put in my safety posit box with some other jewelry. what do you think. Im broke now, so i would have to take a new Cannon A510 digital camera back to wal-mart (i got it on clearance marked down to 130.00 from 195.00) to be able to get the ring out, so i have mixed feelings.

Important parts in bold.

Conclusion.

You are an idiot

 

[JackRipper]

Originally posted by: Patt
Don't buy diamonds for investment purposes. Buy something that will appreciate. Unless you wanna give it to someone in hopes they'll marry you, then they are worth it.

Diamonds do appreciate... if you do buy diamonds for investment tho, you should become a diamond dealer... otherwise one or two diamonds would not even be worth the hold (monetary-wise that is...)...

Chinese and Japanese have bought quite a few loads of VVSI quality diamonds w/in the few past years causing the better diamonds to be more "rare" and price increase.

But never ever buy a diamond from a retailer expecting that you could profit (sale or not). There is like a 3-6x markup on jewelery... 2-3x when there is a "sale"... lolz..

-JR

 

[jerryjg]

I am the O.P. I appreciate all your esteemed advise.First of all, I am 47 Y/o. I do not consider myself a finacial sucsess. Niether do i consider myself a complete failure of a crackhead who wastes his money on his next 'FIX".I work PT, towards a small and meagre retirement at age 65 from the scholl system( God Da*n you Rick Perry!!).My goal is to be school teacher, because right now i make about only 1000.00 a month driviong a school bus.I also have enough credits for SociaL SECURITY to draw the ssss.ss. payments when i turn my late 60's( god DA*n you george Bush!!).I have some stuuf in my safe deposit box: 5000 dollars woth of vintage gold soverigns, a string of genuine pearls, some gold jewelry worth about another 1000.00,and a small but valuable firearms collection.MY nepphew is an executive at Nokia, and he makes about 500 large a year.My brother is a Veteranarian, who is worth a few million. Im a simple man, a poor man. But i do what I can. I Have a 2002 Ford Lariat thats paid for. I have property, probabaly about 200 grand worth of real estate.I have an inheritance worth probably another 200 grand.I asked about this diamond ring because, sure- I am cash poor >I allot myself 20.000 a year to live on , and at the end of the year money becomes extremely tight.So I saw this Diamond rinf\g at WAl-Mart. It looks very nice, and was on clearnace for 200.00 off retail. Now, i still dom ot knoe if i should get it or not!. My next trust check isnt untill DEc. 1 . Someone please help me, because I am not an expert- i dont know anything yet about T. Rowe price( who I plan to invest with in the future), and I do not have any diamonds, and they look pretty!

 

[JackRipper]

After all thats said u still dont know whether to get it or not?

Lolz, these people aren't kidding u.

Ur better off:

1. Buy the camera
2. Buy cheap printer + photopaper
3. Stand in busy, touristy street corner
4. Take pix of ppl and sell them for like 50 cents a piece
5. Profit more than buying the ring


-JR