7. The opportunity cost of buying a diamond is huge. Opportunity cost is what you give up by spending your scarce resources on a single option. In other words, if you drop ten grand on a diamond ring, you have $10,000 less to spend on other things, like a fantastic honeymoon, a car, furniture, a down payment on a house, investing for the future, or further education. Are all of these options worth giving up for a little piece of colorless carbon?
If you're in the market for diamond jewelry, or think you may be soon, please take a few minutes to read through this site. I hope you learn something useful.
Diamond on Diamond Ring - Graff Diamonds
This site is about two very simple truths: (1) diamonds are an incredible rip-off, and (2) a little known naturally-occuring gemstone called moissanite is superior to diamonds in every essential way: cut, color, clarity, durability, fire, brilliance, and cost.
DIAMONDS ARE FOREVER | BEAUTIFUL, ALSO, ARE THE …
2. All moissanite gems are near flawless. Since moissanite can be reliably made in a laboratory, it's easy to do quality control. Instead of selling anything that comes out of the ground, flawed moissanite can be identified and discarded. This means the moissanite you buy will be a much better quality stone than a more expensive diamond.
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6. People notice the setting more than the diamond itself. To the naked human eye, most decent quality diamonds look the same. Unless the stone is yellow, has major inclusions, or has a distinctly lopsided cut, no one will be able to distinguish an ideal cut, E color, VS-1 stone from a lesser-quality diamond just by looking at it. What people do notice is the setting - how the stone is featured or placed, side stones, and the craftsmanship and artistry of the band. Knowing this - does it make more sense to focus your attention and dollars on a better stone, or on a better setting?
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3. A diamond is an illiquid asset, not an "investment". Don't believe me? Try to sell a second-hand diamond ring on eBay or at a pawn shop. Do you really think you'll get anything close to what you paid for it? Do you really think the price of any diamond you purchase today is going to go up significantly over time? A diamond ring isn't even a good "insurance policy" to fall back on during hard times - it's an illiquid asset that you'll have a hard time selling for a price anywhere close to what you paid for it.
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5. Speaking of financing: you'll probably be able to pay cash for moissanite. If you plan ahead, you'll be able to purchase the ring with cash, avoiding interest charges that make a diamond ring even more expensive. ()