Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Buying diamonds? Avoid Drew Brees’s $9-million mistake
CBS Marketwatch ^ | April 7, 2018 | Maria LaManga

Posted on 04/07/2018 3:58:36 AM PDT by C19fan

When it comes to investing, diamonds aren’t a quarterback’s best friend. Drew Brees, quarterback for the New Orleans Saints, is suing a California jeweler who sold Brees and his wife Brittany about $15 million in investment-grade diamonds. The diamonds are actually worth about $6 million, the couple later found out through an independent appraiser, according to a report from The San Diego Union-Tribune.

(Excerpt) Read more at msn.com ...


TOPICS: Business/Economy; Sports
KEYWORDS: diamonds
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-67 next last
To: PIF
It has been said that if deBeers opened its safes and released all the diamonds it has mined over the centuries, diamonds would be around the same value as the copper in a copper penny ...

Yep. That is why we can purchase drill bits and saw blades that are coated with diamonds without having to mortgage or homes.

I know those are industrial grade but with the quantity of diamonds they are holding I wonder how many decent diamonds have ended up in the tool-making factories?

21 posted on 04/07/2018 6:18:54 AM PDT by OldMissileer (Atlas, Titan, Minuteman, PK. Winners of the Cold War)
[ Post Reply | Private Reply | To 6 | View Replies]

To: C19fan

De Beers is a diamond monopoly that has all the worlds diamonds, and then fixes the price of diamonds and common diamonds are essentially worthless. You want to invest in something that is really rare.... Invest in gold.


22 posted on 04/07/2018 6:24:25 AM PDT by jerod (Nazi's were essentially Socialist in Hugo Boss uniforms... Get over it!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: jerod

An upset in the Middle East/or other conflict and gold goes up.


23 posted on 04/07/2018 6:28:07 AM PDT by BipolarBob (Build the Wall, with flamethrowers and machine gun nests.)
[ Post Reply | Private Reply | To 22 | View Replies]

To: NorthstarMom

I don’t look at jewelry so my information is no more than stray tidbits picked up in conversation or online. My understandng, however, is that the modern synthetics are “real” — i.e. identical to naturally occurring stones in all chemical and physical properties. Natural stones will have imperfections, fewer and smaller in high grade diamonds, but present nontheless. This is how experts can tell the two apart. I think the same is true of many other gemstones as well. I keep telling my daughters not to get sucked into the engagement ring racket; go buy a big stone that you like, synthetic in order to keep the price down. As a token of their beloved’s devotion, however, they should hold out for something of real and intrinsic value. Antique firearms are good and come in a wide enough range of pricepoints to suit most budgets. If the guy can’t ante up for at leadt an 1861 Springfield rifle, he’s probably not financially ready for marriage. Antique cars are fine too, but they are harder to hang on the wall.


24 posted on 04/07/2018 6:29:46 AM PDT by sphinx
[ Post Reply | Private Reply | To 16 | View Replies]

To: AndyJackson

If you want to know the real price of a diamond, try selling it back to a jeweler. You buy it for $4K they might buy it back at $100 if they do it at all.


25 posted on 04/07/2018 6:31:23 AM PDT by Dutch Boy
[ Post Reply | Private Reply | To 17 | View Replies]

To: C19fan

Bitcoin is a good LT investment.


26 posted on 04/07/2018 6:34:30 AM PDT by oblomov
[ Post Reply | Private Reply | To 1 | View Replies]

To: C19fan

One bullet is worth more than all the diamonds in the world.


27 posted on 04/07/2018 6:37:10 AM PDT by Hammerhead
[ Post Reply | Private Reply | To 1 | View Replies]

To: C19fan

Is it safe?


28 posted on 04/07/2018 6:40:39 AM PDT by Larry Lucido
[ Post Reply | Private Reply | To 1 | View Replies]

To: sphinx

LOL

Back when we were dating I told my husband that I didn’t need a diamond engagement ring, just a plain gold wedding band. He insisted so I have a diamond in my favorite cut plus a simple gold wedding band.

I love it, but my dad’s uncle was a jeweler so my mom had a full carat diamond. The shallow part of me would like that, too.


29 posted on 04/07/2018 6:40:53 AM PDT by NorthstarMom
[ Post Reply | Private Reply | To 24 | View Replies]

To: C19fan
"And then I realized, like I was shot — like I was shot with a diamond...a diamond bullet right through my forehead. And I thought:"


30 posted on 04/07/2018 6:42:14 AM PDT by P.O.E. (Pray for America)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Gay State Conservative

Lessee- football players known for high intellect? Nope. Middle Eastern/Muslim/Arab merchants known for honesty? Nope. The list I read had mostly rings on it. Bling for wifey to wear in one of America’s poorest/most criminal cities.


31 posted on 04/07/2018 6:46:26 AM PDT by ClearBlueSky (ISLAM is the problem. ISLAM is the enemy of civilization.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Gay State Conservative

Lessee- football players known for high intellect? Nope. Middle Eastern/Muslim/Arab merchants known for honesty? Nope. The list I read had mostly rings on it. Bling for wifey to wear in one of America’s poorest/most criminal cities.


32 posted on 04/07/2018 6:46:27 AM PDT by ClearBlueSky (ISLAM is the problem. ISLAM is the enemy of civilization.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Gay State Conservative
Treasury bills, huh? Just one question....


33 posted on 04/07/2018 6:49:31 AM PDT by Larry Lucido
[ Post Reply | Private Reply | To 5 | View Replies]

To: C19fan
The diamonds are actually worth about $6 million

Look at the bright side. He ended up with a small fortune! :-)

34 posted on 04/07/2018 6:50:24 AM PDT by Larry Lucido
[ Post Reply | Private Reply | To 1 | View Replies]

To: Dutch Boy

Jeweler friend-in a high end store- told me years ago that the markup on diamonds is huge. Not only that- jewelry full of tiny diamonds they advertise as ‘total weight ‘ are where they make their money . When big stones are purchased BAGS of tiny point diamonds are given FREE. So all the jewelry with tiny stones is basically worthless except for metal price. Think about that the next time you see ‘-carat total weight’ on a piece.


35 posted on 04/07/2018 6:52:07 AM PDT by ClearBlueSky (ISLAM is the problem. ISLAM is the enemy of civilization.)
[ Post Reply | Private Reply | To 25 | View Replies]

To: Gay State Conservative; Gamecock; SaveFerris; FredZarguna; PROCON

For the record, I have nothing against diamonds, Treasury bills, investors, brokers or dentists.


36 posted on 04/07/2018 6:52:24 AM PDT by Larry Lucido
[ Post Reply | Private Reply | To 33 | View Replies]

To: oblomov
Bitcoin is a good LT investment.

This BLT might be better. You could actually eat the bacon.


37 posted on 04/07/2018 6:55:45 AM PDT by Larry Lucido
[ Post Reply | Private Reply | To 26 | View Replies]

To: NorthstarMom

Nothing says true love like a Cubic Zirconia.

Diamonds are for chumps.


38 posted on 04/07/2018 7:04:26 AM PDT by glorgau
[ Post Reply | Private Reply | To 16 | View Replies]

To: glorgau
I've been watching "Reaper", a 2-season series - funny and entertaining.

One episode had the devil working in a jewelry shop and he convinced the groom-to-be to not spend the bucks on a real diamond ring but go for the Cubic Zirconia ring as "no one will ever know the difference". When the groom strolls over to the Cubic Zirconia display, the devil convinces the bride-to-be that a man who would buy a Cubic Zirconian ring is not worthy of marriage.

Of course, the couple begins arguing & bickering...just what the devil (played quite well by Ray Wise) wanted.


39 posted on 04/07/2018 7:20:09 AM PDT by newfreep ("INSIDE EVERY PROGRESSIVE IS A TOTALITARIAN SCREAMING TO GET OUT" @HOROWITZ39, DAVID HOROWITZ)
[ Post Reply | Private Reply | To 38 | View Replies]

To: PAR35

Pretty sure that investment diamonds are NOT in settings. They are loose.


40 posted on 04/07/2018 7:25:27 AM PDT by ridesthemiles
[ Post Reply | Private Reply | To 19 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-67 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson