Spending 2 months salary for diamond...
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Joined: May 2001
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From: Honolulu
When I got married, I spent $4K on a ring that came out around a month and a half's salary way back when. I bought a .75 carat diamond and a nice setting with diamond baggets on it. For the stone, I got a great color and clarity diamond. To me, that was more important than size, since the stone looks white (almost blue) and not a cheap yellow.
I do regret not getting a bigger diamond at the time as I look around at other women's rings and see how big the diamond is. Well, our five year anniversary is coming up and I do plan on upgrading the diamond to 1+ carat, but still has to be great color and clarity. It will not be cheap, but my wife is worth every penny!
Oh yeah, the one I plan on getting is still less than 2 months salary, but I've more than doubled my salary since I got married 
I do regret not getting a bigger diamond at the time as I look around at other women's rings and see how big the diamond is. Well, our five year anniversary is coming up and I do plan on upgrading the diamond to 1+ carat, but still has to be great color and clarity. It will not be cheap, but my wife is worth every penny!
Oh yeah, the one I plan on getting is still less than 2 months salary, but I've more than doubled my salary since I got married
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Joined: Oct 2000
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From: Bergen County
>>>DeBeers is disintegrating before our eyes. Diamonds will not become worthless.<<<
You're right, diamonds will not become worthless (regardless of DeBeers) because someone (fill in the blank) will step in and regulate the sale/distribution of on the open market. . . But not being worthless and actually having value are two competely different points. . .
My point wasn't whether or not diamonds had a market value. My point was that from a technical standpoint, diamonds are not a rare stone, and thus don't truly warrant their pricing. . .
You're right, diamonds will not become worthless (regardless of DeBeers) because someone (fill in the blank) will step in and regulate the sale/distribution of on the open market. . . But not being worthless and actually having value are two competely different points. . .
My point wasn't whether or not diamonds had a market value. My point was that from a technical standpoint, diamonds are not a rare stone, and thus don't truly warrant their pricing. . .
Joined: Mar 2001
Posts: 37,305
Likes: 18
[QUOTE]Originally posted by ICEMAN666
[B]>>>DeBeers is disintegrating before our eyes. Diamonds will not become worthless.<<<
You're right, diamonds will not become worthless (regardless of DeBeers) because someone (fill in the blank) will step in and regulate the sale/distribution of on the open market. . . But not being worthless and actually having value are two competely different points. . .
My point wasn't whether or not diamonds had a market value.
[B]>>>DeBeers is disintegrating before our eyes. Diamonds will not become worthless.<<<
You're right, diamonds will not become worthless (regardless of DeBeers) because someone (fill in the blank) will step in and regulate the sale/distribution of on the open market. . . But not being worthless and actually having value are two competely different points. . .
My point wasn't whether or not diamonds had a market value.
Registered User
Joined: Dec 2000
Posts: 3,362
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From: South Bay
[QUOTE]Originally posted by xviper
[B]If you wanna listen to everything businesses tell you then:
You should drink 50 gallons of Coke, Pepsi, etc./day.
Eat butter, NOT margerine.
Eat margerine, NOT butter.
Change your tampon at least 20 times/day.
The bigger the "wings" the better.
10 Snickers bars/day.
GEEZ LOUISE!!!
[B]If you wanna listen to everything businesses tell you then:
You should drink 50 gallons of Coke, Pepsi, etc./day.
Eat butter, NOT margerine.
Eat margerine, NOT butter.
Change your tampon at least 20 times/day.
The bigger the "wings" the better.
10 Snickers bars/day.
GEEZ LOUISE!!!
Joined: Mar 2001
Posts: 37,305
Likes: 18
Originally posted by Station
No offense taken.. I am usually the first person to tell my customers that a diamond is not meant to be an investment. The only way to get what you pay for it is to take it back to the store where you bought it and upgrade to a larger one. I would never "invest" in a diamond. As far as your friend and his markups...hmmm. There are over 200 jewelers in my local area, all of them are eagerly competing for your business. The competition is fierce. I don't know where your friend worked, but I know what we pay for diamonds and what we sell them for. We don't make that kind of markup. I'd bet we make less on a diamond than what people make selling aftermarket performance parts for our cars. Which brings up another interesting thought.
Would I be foolish to buy a S2000 because of the markup? It boils down to priorities. Interesting how we can so easily justify paying MSRP+ for a car, and balk at the price of diamonds.
No offense taken..
I am usually the first person to tell my customers that a diamond is not meant to be an investment. The only way to get what you pay for it is to take it back to the store where you bought it and upgrade to a larger one. I would never "invest" in a diamond. As far as your friend and his markups...hmmm. There are over 200 jewelers in my local area, all of them are eagerly competing for your business. The competition is fierce. I don't know where your friend worked, but I know what we pay for diamonds and what we sell them for. We don't make that kind of markup. I'd bet we make less on a diamond than what people make selling aftermarket performance parts for our cars. Which brings up another interesting thought.Would I be foolish to buy a S2000 because of the markup? It boils down to priorities. Interesting how we can so easily justify paying MSRP+ for a car, and balk at the price of diamonds.
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Joined: Mar 2001
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From: Dana Point, CA
I was lucky. My great grandmother willed me her wedding/engagement set when she died about 10 years back. At the time I wasn't sure what to think of the willed ring set, but now I am really stoked with my great grandmother's vision and forsight.
My fiance' got a family heirloom to cherish. She's a tiny woman so the fact that it's not a 5 carat ring doesn't mean crap. It's a nice, old diamond set in a simple platinum ring. The diamond is of excellent quality and cut in a manner that apprently isn't done anymore so it's very unique. My fiance' is stoked with it. I am proud and happy to give it to her. It means a lot having been in the family for nearly 90 years now and our hope is that someday (a very long, long time from now) it can be passed on again.
I only had to pay to have the settings checked, the ring cleaned, and the ring appraised for my homeowner's insurance. Lucky, I know.
If I had to do it another way, I think I would be very practical about it. My fiance' and I are paying for our wedding ourselves. We both come from very humble families (especially hers) and wouldn't dream of hitting up the parents for $. If I had to pay for the ring myself, I would have bought something very reasonable and classic. To me, the money would be better spend on a second house, the wedding, or something like that. Luckily for me, my fiance' is like minded. We earn too much to even think about spending 2 or 3 months salary on a ring. For one, it would look terrible on her petite hand. For two, we personally think that this kind of jewelry is outlandish and there's far better things to spend money on.
My advice, after all that long-windedness, is to take a hard look at where you are and where you hope to be in the short and medium term futures. Maybe spend 1 months salary today while saving for a house is a far better plan. You've got your whole life to upgrade the ring if that becomes important to you. At the same time, the sooner you start saving money and making money work for you, the better off you'll be.
My fiance' got a family heirloom to cherish. She's a tiny woman so the fact that it's not a 5 carat ring doesn't mean crap. It's a nice, old diamond set in a simple platinum ring. The diamond is of excellent quality and cut in a manner that apprently isn't done anymore so it's very unique. My fiance' is stoked with it. I am proud and happy to give it to her. It means a lot having been in the family for nearly 90 years now and our hope is that someday (a very long, long time from now) it can be passed on again.
I only had to pay to have the settings checked, the ring cleaned, and the ring appraised for my homeowner's insurance. Lucky, I know.
If I had to do it another way, I think I would be very practical about it. My fiance' and I are paying for our wedding ourselves. We both come from very humble families (especially hers) and wouldn't dream of hitting up the parents for $. If I had to pay for the ring myself, I would have bought something very reasonable and classic. To me, the money would be better spend on a second house, the wedding, or something like that. Luckily for me, my fiance' is like minded. We earn too much to even think about spending 2 or 3 months salary on a ring. For one, it would look terrible on her petite hand. For two, we personally think that this kind of jewelry is outlandish and there's far better things to spend money on.
My advice, after all that long-windedness, is to take a hard look at where you are and where you hope to be in the short and medium term futures. Maybe spend 1 months salary today while saving for a house is a far better plan. You've got your whole life to upgrade the ring if that becomes important to you. At the same time, the sooner you start saving money and making money work for you, the better off you'll be.
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Joined: Mar 2001
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From: Phoenix
I paid about 1.5 months salary for my wife's engagement ring. Before she could add it to her renter's insurance, she was burglarized and it was stolen. I replaced it with an identical ring, so...I guess you could say that I paid over 3 months salary.
I don't like the idea of buying diamonds because I feel like I am being manipulated by DeBeers. Anyone has ever read a history of the company, knows what I mean. But when your fiancee expects a diamond, you get her a diamond, period.
I don't like the idea of buying diamonds because I feel like I am being manipulated by DeBeers. Anyone has ever read a history of the company, knows what I mean. But when your fiancee expects a diamond, you get her a diamond, period.
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Dec 15, 2000 07:25 PM