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 ...
Buy the diamonds then have an independent appraiser look at them. That sounds like a really smart way of doing things.
Yep. The time for appraisal is before the purchase.
Sorry...no sympathy from me.If I was rich enough to have $15 million to “invest” I’d park it in Treasury bills.
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 ...
Not to mention synthetic diamonds that are now perfect reproductions, chemically and physically identically identical to the natural version. The dug diamonds diehards sniff that the synthetic stones are "too perfect." I wouldn't trust the long-term value of any diamond, or any other reproducible stone.
It’s sooo easy to get ripped off in the diamond trade business unless you’re dealing in Museum quality diamonds of 1 carat or more and know what you’re doing. D,P, IF.
Take a semester of Gem grading and then hit the gem merchants in Miami. You’ll be astonished at how many poorly grade diamonds are sold well above their value.
Sorry. Garbled that a bit. Not awake yet.
I like Drew Brees, but apparently he has so much to p!ss away that he doesn’t even get a second opinion before spending $15 MILLION.
He’s lucky they weren’t glass...
No such thing as investment grade diamonds!
Why cant I ever meet rich fools to scam?
I wonder how many know that diamond is *shudder* carbon! It’s very shiny compressed global warming!
Which will collapse once the wacky leftists figure out that the whole "blood diamonds" thing was invented and promoted by DeBeers.
Buy crystallized carbon? Only when I need it as a cuting or grinding tool.
BTW ..... burns like anthrocite coal!
My wife, however, has an unreasonable attraction to its glimmer for some reason?
I’ve been curious about synthetic diamonds. Have you seen them in person? Do they look like real diamonds? It would probably hurt my husband’s feelings if I were to sub a bigger synthetic diamond in my ring, but every so often I’m tempted to get a copy ring with a synthetic diamond.
But then after almost 20 years, I’m used to what I have.
That's the nature of any commodity business. The dealer has to make his money, which means the market bid on your object is always less than the market offer.
Fool.
Everyone knows that Beanie Babies are where the Smart Set park their money.
I thought everyone knew that a diamond was worth about half of what you pay for it. You don’t buy diamonds as an investment, you buy them to either 1) show a commitment to a relationship or 2) show that you have enough spare money to spend it on frills.
Now I'm worried. It made perfect sense to me when I read it.
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