Diamond Prices Are in Free Fall in One Key Corner of the Market

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.

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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?

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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).

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