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[personal profile] mbarrick
Remember this? It's gone now. I sold it today along with my old wedding ring. The tangible remains of those two mistakes have been removed from the house. And I learned something: the hype they sell you in jewelry stores about the value of diamonds is complete crap. Their resale value is crap because the retail markup is absurd. I did some research on the what I could expect to get for the diamond before selling it and discovered that if you can get 10% of the current retail price you're doing well, and with smaller rocks that goes down. I got 6% of the price I paid Ivana's engagement ring. As it turns out the gold wedding band had a better resale value in terms of percentage of retail.

I've mentioned before that women with the used-car-salemen gene work in jewlery stores, this only goes to confirm that. The whole "a diamond is forever" crap is marketing blather made up by de Beers to get people to buy diamonds instead of prettier coloured stones. Diamonds are not forever, they are not a girl's (or any one else's) best friend, as an "investment" the suck shit. They are most useful ground up and used to make sandpaper.

What I got for the thing was about the same as the last Canadian Springs bill I was stuck with. And that's it.

Date: 2003-05-03 06:11 pm (UTC)
From: [identity profile] bitogoth.livejournal.com
i only ever wore a diamond once, and only because my fiancee insisted on it. i take great pleasure in the fact that he prolly got less that 10% of OUR investment back. heh.

{{{hugs}}} i know i've said it before, but it makes me really happy to see how well life is treating you in most things... you've come a long way my dear and i respect you for it.

Thank you

Date: 2003-05-03 09:54 pm (UTC)
From: [identity profile] mbarrick.livejournal.com
It's been a long trip, there and back again. And now the ring is destroyed.

Have I ever mentioned I have hairy feet?

Date: 2003-05-05 09:38 am (UTC)
From: [identity profile] mediavictim.livejournal.com
What *DID* your ex look like?

Hmmmmm..thin...obsessive....neurotic.....

Now what will she do now that you destroyed her precccisoussssssss...

Date: 2003-05-03 07:06 pm (UTC)
From: [identity profile] dream-king.livejournal.com
Actually working in the jewelry industry now well, doing internet fraud for an online Jewelry company, I have learned a lot about it. In all reality, you are going to get your best prices paying case to private jewelers who don't have stores or anthing, who deal with estates. We deal with de Beers and have a site account with them, and you aren't getting good prices from malls or any other store.

I know someone who Thursday bought a retail value diamond worth $14K (1.4C in S1, F colour brillient cut) for $4k cash which the jeweler was selling for an estate.



Date: 2003-05-03 09:49 pm (UTC)
From: [identity profile] mbarrick.livejournal.com
Which just goes to show how it works even further. The broker working on behalf of the estate account makes his cut, so the proceeds of to the estate are a fraction of that $4K. The retail value of the diamond, in this case $14K is only meaningful for insurance purposes as a replacement value. The "real" value to the owner as a portable "investment" is the resale value, which obviously is a fraction of the $4, in this case probably about $1000-$1400. Hardly what the industry leads the consumer to believe. Certainly the diamond will never be worth less than it's current value, but just as certainly, even with the deal he got going directly through a broker the ring will never be worth what he paid for it.

From the consumer point of view, it bites. The flip side, of course, it is obscenely profitable for the merchant.

Date: 2003-05-03 10:32 pm (UTC)
From: [identity profile] dream-king.livejournal.com
in the case of the estate sale, they were just trying to get rid of it, the cash was more important.

But you are right, it is only important to the person who is given it and to the insurence.

I do think though that my youth allows me to romantasize the symbolism of diamonds, I do lack the life experiences which you have had...

Date: 2003-05-03 11:27 pm (UTC)
From: [identity profile] mbarrick.livejournal.com
> my youth allows me to romantasize the symbolism of diamonds

Which is really what my point comes down to. That symbolism is hollow. There is now real tradition behind it, just marketing that oringinally came from de Beers and later co-opted by the entire industry. Previous to all this a simple gold wedding band was traditional, rooted in a tradition thousands of years old. Those that could afford it had stones set for purely decorative reasons, it was the band itself that mattered symbolically, and usually those stones were of more decorative varieties, like sapphires and rubies. It's only in the 20th century that the stone in the setting became important and that stone *had* to be a diamond. It's really not romantic in the least, it is a soulless tradition based in the greed of the diamond miners and merchants, not love.

Date: 2003-05-04 11:01 am (UTC)
From: [identity profile] seymour-glass.livejournal.com
well considering de beers owns or controls about 85% of the diamond market it's not surprising that you can't believe anything they say...it's truly a crime that the resale value of the stone is such a tiny fraction of its cost to you...i guess that's what happens when monopolies are allowed to flourish...and they wonder why people fear microsoft and the media conglomerates...but it's a good lesson to all of us out there to buy something other than a diamond, though i would've anyway...

Date: 2003-05-04 01:27 pm (UTC)
From: [identity profile] dream-king.livejournal.com
just slight correction, de Beers isn't a monopoly, they are a cartel. They control the prices and number of stones sold in Africa, but they themselves do not own the mines.

Re:

Date: 2003-05-04 03:22 pm (UTC)
From: [identity profile] seymour-glass.livejournal.com
a semantic difference at best...

Date: 2003-05-05 09:43 am (UTC)
From: [identity profile] mediavictim.livejournal.com
For all that North American laugh at the traditions of other
countries.

How many East Indian men spent three months Salary ...on a Dot
for their wives forhead?

How many wiccians dropped $2K on a handfasting rope?



Wedding Rings and Diamonds ... blah ....

Date: 2003-05-03 10:50 pm (UTC)
From: [identity profile] thomasrymour.livejournal.com
I'll tell ya, you are right that the "true" (=resale) value of the rings are less than 10% of what you pay for them ... I think the first wedding ring set (first wedding) was just under $2,000 back in 1986 (purchased in Vancouver, B.C.). The fate of my ring after divorce? I tossed it over a cliff into a sinkhole. Goodbye. (hock shops were only willing to pay me $25-50 for it). Hers? I have no clue. I believe she sold it.

2nd marriage - we paid less than $300 for hers, and $150 for mine. (1996 in Tallahassee, Florida) After divorce: Hers ... I assume she sold it since on her web site, she let it go defunct, and the only remaining picture on the site was one of her engagement/wedding ring set. Mine - I planted in a 7-story tall bonfire at Starwood before it was set on fire. Good riddance. However, her promise ring and my engagement ring still sit buried underneath an ancient altar in Tulum. Someday I'll go back and dig them up and toss them in the ocean. Blah.
If I get married again, it'll probably be simplified clannaugh rings.

In goes the Ring ....


and BLAST AWAY!!!!!!


= YAYYYY!!!!! FREEDOM!!!!

Re: Wedding Rings and Diamonds ... blah ....

Date: 2003-05-03 11:31 pm (UTC)
From: [identity profile] mbarrick.livejournal.com
Heh... that's familiar. While I held on to the ring for too long, I burned all the wedding clothes, right down to the shoes I wore that day, not long after we separated.

Tangentally

Date: 2003-05-03 11:33 pm (UTC)
From: [identity profile] mbarrick.livejournal.com
Do you know of any good reference books on the psychology and sociology around bonfire rituals? Ideally something that takes a cross-cultural anthropologial approach.

Bonfire Rituals

Date: 2003-05-04 04:42 pm (UTC)
From: [identity profile] thomasrymour.livejournal.com
Sorry, can't help you with psychology / sociology books ... but Anthropology books on the analysis of ritual and bonfires, religion, and spiritual beliefs I could probably dig up if you are interested. Let me know.

Though, if you've got on hand a copy of Sir James Frazier's classic "The Golden Bough" - pages 705 through 743: The Fire-Festivals of Europe, or 743-753: "The Interpretation of the Fire-Festivals", including sections on the Solar Theory of the Fire-Festivals, The Purification of the Fire-Festivals, might give some ideas of where to start. 754-763: The Burning of Human Beings, Animals, and Effigies in the Fires ... are also a good read. Especially if you like Frazier.

Hope that helps ...

Thanks

Date: 2003-05-05 10:01 am (UTC)
From: [identity profile] mbarrick.livejournal.com
That actually sounds like a good jumping off point for what I have in mind.

Re: Thanks

Date: 2003-05-05 09:21 pm (UTC)
From: [identity profile] valerian.livejournal.com
Erm...
You're not going to set me on fire, are you?

Heh.

Date: 2003-05-04 12:59 am (UTC)
From: [identity profile] sleeplessknight.livejournal.com
Next time, you should get something that has a bit more utility... like a wedding powerdrill or something like that. ^_^

Or rent a ring.

Or get one from one of those vending machines for about 25 cents. (hey, if you're lucky you might get one of those spider-rings!) ^_~

LOL

Date: 2003-05-04 11:01 am (UTC)
From: [identity profile] mbarrick.livejournal.com
Considering that my marriage ended when my wife came out, a power tool would have been very appropriate (it's a lesbian thing...).

"Rent a ring" - LOL! There could be a business there! Rent-to-own or lease-purchase plan wedding rings. If the marriage fails just return the ring, no obligation, no payments until 2005 (OAC)... ROFL!

Or I could do like Homer Simpson, an onion ring.

Re: LOL

Date: 2003-05-04 01:29 pm (UTC)
From: [identity profile] dream-king.livejournal.com
I thought lesbiens got toasters or microwaves.....

Re: LOL

Date: 2003-05-04 01:45 pm (UTC)
From: [identity profile] mbarrick.livejournal.com
It all depends on how butch they are.
(deleted comment)

Date: 2003-05-04 06:13 am (UTC)
From: [identity profile] bitogoth.livejournal.com
ooo! i like this idea!

Remember

Date: 2003-05-04 10:56 am (UTC)
From: [identity profile] mbarrick.livejournal.com
Drink your Ovaltine!

Date: 2003-05-04 02:33 pm (UTC)
From: [identity profile] sovietnimrod.livejournal.com
The whole "a diamond is forever" crap

No kidding - and it was also probably one of the worst James Bond movies to boot...
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