News for hackers. Stuff that matters.
Re:Diamond Prices Are in Free Fall in One Key Corner of the ... by Nursie on Tuesday September 05, 2023 @10:32PM (#37400740)
> so the ring would hold more value

A nice little white lie by omission anyway, as the resale value of a diamond drops up to 50% when it leaves the store! If you were planning for an investment, you'd be better off looking elsewhere.

Re:Diamond Prices Are in Free Fall in One Key Corner of the ... by MerelyMortal on Tuesday September 05, 2023 @11:04PM (#37400899)
If you want to make the retailer uncomfortable, ask how much they would buy it back for.

Retailers don't even own their inventory, it's on loan and they only pay the diamond cartel when they sell a diamond.

Re:Diamond Prices Are in Free Fall in One Key Corner of the ... by martin8412 on Wednesday September 06, 2023 @04:51AM (#37402756)
Unless you're buying a named diamond, it's close to worthless. Diamonds of the size used for marriages are not rare. They're super abundant, with the supply artificially limited by the diamond cartel.
Re:Diamond Prices Are in Free Fall in One Key Corner of the ... by BluePen8 on Wednesday September 06, 2023 @09:59PM (#37413811)
That’s how I got a lavish engagement ring for my wife, I simply bought it used from a guy who’d bought it a year ago for a relationship that fell apart.

Met him at a jewelry store and had it verified and appraised, he had the receipt for the 12k or so he paid, it appraised for 16k (not sure why they appraise for more than the retail price), and I paid him 5k (CAD).

This was years ago, and I think it was a 1.4ct VVS2.

That same budget in store had me looking at sub 1 carat SI2 crap that was cloudy as all hell.

Diamonds have 0 resale value, not sure why people think otherwise when it’s so easy to see simply browsing used ads.

Re:Diamond Prices Are in Free Fall in One Key Corner of the ... by rasz on Thursday September 07, 2023 @01:19AM (#37415019)
>it appraised for 16k

wasnt that a fraud by a jewelry store, claiming its worth 16K while not willing to pay that much for it?

Re:Diamond Prices Are in Free Fall in One Key Corner of the ... by BluePen8 on Thursday September 07, 2023 @01:33PM (#37422555)
I agree, and don’t really get it either. Some stores it’s even advertised that their goods are appraised at more than their price.

Maybe it’s a marketing thing, but to me it just feels like fraud against whoever has to insure it (if I list it on my home insurance for example).