| Many people over the years purchased diamonds | | | | him, as they had no interest in buying his diamond. |
| as an investment. Some made the purchase with | | | | One agreed to meet with him, though I felt it |
| the idea of a future goal - a child's wedding, or | | | | was more of as a favor to me that out of any |
| the like. Others bought it simply thinking diamonds | | | | real interest in buying this diamond. |
| would be a good investment, considering the | | | | I put my friend in contact with the diamond guy |
| intrinsic value pretty much always goes up over | | | | and they meet. Being that this was his only option |
| time. They figured if they bought some diamonds | | | | after many attempts, he basically felt like he had |
| and put them away for a few good years, they | | | | to take what was offered. He had to sell the |
| could eventually sell them for a nice return on | | | | diamond, as he needed money to pay for the |
| investment. | | | | wedding. They meet, he shows the stone, and |
| The truth is that "buy diamonds as an | | | | the die guy ended up buying the diamond. My |
| investment" was always a big scam and you | | | | friend sold the diamond at far less than he had |
| should never buy a diamond thinking of it as a | | | | ever expected - he sold it at a loss from what he |
| good investment. It is a horrible investment. | | | | had paid for it 25 years earlier. |
| There are other reasons to buy diamonds - love, | | | | Can you imagine that? He bought a diamond as an |
| romance, beauty - but "investment" is not one of | | | | investment, being told by diamond sellers at the |
| them. | | | | time that diamonds are a great investment, he |
| A friend once approached me, knowing I worked | | | | holds the stone for 25 years and then sells it at a |
| in the diamond industry. He was looking for a | | | | loss. Amazing! |
| contact - about 25 years prior he had purchased | | | | Diamonds are not a good investment. The |
| a diamond thinking it was a good investment. His | | | | markup a stone goes through before you buy it |
| daughter had just been born and he figured if he | | | | on the retail market is so great that there is no |
| bought a diamond and put it away, he could sell it | | | | way you can make that back reselling it back to |
| eventually to pay for her wedding, or at least a | | | | the diamond market at wholesale prices, which is |
| nice portion of it. | | | | what they will pay. The only way you can make |
| So 25 years later his daughter is engaged to be | | | | your money is if you find an unsuspecting buyer |
| married. He contacts me and asks if I can help | | | | willing to pay retail value, which is never going to |
| him with finding someone who will buy his diamond | | | | happen. The only place for you to sell your |
| from him. I ask around and most of the diamond | | | | diamond is to a diamond dealer, and they only |
| guys I spoke with had no interest in meeting with | | | | pay wholesale prices marked down. |