Find your diamond
Find your jewelry
shape
carat
color
clarity

A waste of money?

Status
Not open for further replies. Please create a new topic or request for this thread to be opened.
S

seeker78

Rough_Rock
Joined
Dec 17, 2005
Messages
46
Do any of you ever think that diamonds are a total waste of money? I mean, Debeers and the diamond industry has convinced us, and marketed to us the fact that we need to spend thousands and thousands of dollars on diamonds, which are, in reality, NOT rare, and we spend our HARD-EARNED money on the best cut, highest color and clarity diamond we can possibly afford. I understand that it is an art to cut a diamond, believe me, I have educated myself greatly about all the different characteristics, hell, I even bought my fiance and eightstar, the king of high end stones, and I appreciate the beauty of a well cut stone... but my point is this... Don''t you think that diamonds are very overpriced, and therefore a luxury item best purchased by those with money to burn, rather than the everage joe, who works hard for his money, and is sold into the whole diamonds are forever thing, and ends up either spending his savings or going into great debt just because the industry, and society tell him he has to do so in order to prove he loves his significant other? Think about what you are paying for...a tiny prizm that sits on your betrothed ones finger... and here we are doing all we can to pay for this. You only live once, and isn''t this money better spent on a house, or a vacation to europe, or something that gives you avalue in life that you can experience more deeply than a little stone on the finger? I know you are probably thinking..."this guy doesn''t have a clue"...but trust me, I do, and I am wondering if anyone else shares this opinion...?
20.gif
 
Boooo! Yes diamonds are pricey, and yes I want a diamond e-ring. It means a lot to me, and it''s something I''ll treasure for the rest of my life. It''ll always be a concrete reminder of how wonderful it felt to fall in love and promise to be togther for the rest of our lives. Besides, I''d really like a sparkly from him.
9.gif


And I have to say, as a LIW, I''m getting a bit annoyed at all the repeated ''house vs diamond'' talk. How on earth are the two connected? I''m hoping for a ring worth between 1 to 2 mortgage payments! That''s not going to make much of a difference in the long run. Heck, the ring is going to last longer than our next house anyway!
5.gif
 
Thats not very nice to Boo me... Do you see what I mean, you think an expensive diamond ring HAS to be the "symbol" of your love, because thats what you are fed...don''t you see? I fell for it too..
 
Indie: I think the house vs ring talk is more for people shelling out maybe $10 000- 15 000 (or more) and living in an apartement. In these cases, this amount IS a cash down in many places. Which to some people is a lack of priorities, while others think that having a nice ring is more important.

I think your ring is very affordable, and very reasonable and doesn''t necessarily come as "ring vs. house" You''re simply buying what you can afford.

For example, would I shell (or my fiance) shell out $10 000- 15 000 without having a house? Or if we were in debt? No. Because to us anyways, it strongly implies that you are living beyond your means. If my boyfriend didn''t own a house, I would feel very comfortable spending about $3000 on a ring, but no more then that. But if we had student loans or anything else, I wouldn''t even spend $3000 because I''m personally deadly afraid of debt. Doesn''t mean that everyone else is that way though.

The way they''re connected is that they are both major purchases, and both cost money. If you are spending on one thing, obviously, you can''t spend that money on the other. Ideally it''s a balance, a little fun spending with some smart investement. But I definitely don''t think that diamonds are a total waste of money
2.gif
 
welll....I gues I can see your point...BUT.....did the industry, or DeBeers MAKE you go buy your GF an eight star?????? I mean, did they brainwash you into thinking thats what you HAD to do?
I doubt it. You probably just really wanted to get your GF a gorgeous sparkly diamond....to make her happy and to show her you put alot of thought and effort into her ring.

I don''t think advertising, or this website for that matter, will make people go out and spend money that they absolutely can not afford to. Most of the people on this website that have the larger more expensive rings are 1.) older 2.) have degrees with awesome paying jobs and 3.) have been married for years...before they got their big sparklies. Some were "your average joe: as you put it....started out with a 1/2 carat...and waited 10 plus yrs to graduate to something larger.


I do think diamonds are over priced..but so are cars( and houses for that matter)....BMW, Mercedes, heck, even your average car these days is expensive in MHO. But, people LIKE these things and if they choose to spend their money on them, then thats their choice.

you have to remember you are here on a "diamond" forum....a place where people are very passionate about their sparklies, or are looking to acquire a sparkly.....its not your average joes opinions you read about on here.....if you read all of the posts....and look at all of the pictures...you can also see that there is every price and size range imaginable....there was just a thread in Hangout asking how much you spent on your ring....most of the answers might surprise you....very reasonable.
 
yes diamonds are somewhat a waste of money but If it makes my sweets smile for whatever or for any reason its worth it :}
Iv thrown money away on a lot worse things.
besides while ill never admit it I kinda like em myself :}

wth was your point again?
 
seeker78, you definitely have a point in that one does not *have* to have a diamond as a symbol of their love or commitment. But it has become customary ( I suppose thru Debeers marketing?) in our society to get a diamond ring for engagement, whereas years ago one could have gotten any color stone etc.. But there are still people who don''t go for the diamond. Some PS''ers have colored stones, which I think are gorgeous. Personally, I would rather have had a gorgeous colored-stone ring than a teeny-tiny diamond solitaire. Or frankly, I''d rather just wear a plain wedding band than some of the tiny (or ugly) diamond rings I''ve seen. So I agree, there''s no reason to feel forced to get a diamond.
As for the financial end, that''s something people have to use proper judgment on. My husband already owned a house, and I agree with IndieJones, they''re not really connected, unless you''re talking about a young couple just starting out, who have barely any money, and then go out and waste way more than they can afford on an extremely expensive diamond, instead of buying something more in line with their financial status. (I think allycat commented on this already but since I already wrote it I''ll leave it in.) But a few thousand for a ring she''ll wear every day for the rest of life (presumably) doesn''t add up to that much over the years. As for diamonds being overpriced, I have heard that before (how they''re not rare, or, there''s a monopoly), and there''s probably some truth to it, although I must admit I''ve never done any research on it so I can''t say. I just know they cost what they cost, so folks have to decide if it''s worth it. I think most PS''ers just love the look, and decide it''s worth it, and hopefully they can afford it. (There are many folks on here who started out small and got bigger ones years later because they like diamonds.) And like someone said, people in the real world would be surprised at how little some PS''ers pay for their beautiful rings. Two PS''ers told me how little their beautiful Quest halo rings cost at the GTG, and I''m sure people out in the general public probably (incorrectly) think they spent a fortune.
 
Date: 6/6/2006 9:33:45 PM
Author: strmrdr
yes diamonds are somewhat a waste of money but If it makes my sweets smile for whatever or for any reason its worth it :}
Iv thrown money away on a lot worse things.
besides while ill never admit it I kinda like em myself :}

wth was your point again?
Click to expand...
You crack me up!!!
9.gif
 
hehe, i have to laugh because you do know this is a diamond forum right
2.gif
seriously, yes, they are expensive and debeers does have great marketing. I''ve been on this site for over a year and have never heard anyone recommend going into debt for a diamond. diamonds are a luxury purchase. People buy them because they like them, not because they need them. They are no more a waste of many than many others things people choose to spend money on.
 
My point was, we are made to think that we have to purchase these "rare" diamonds at any cost, whether it be one mortgage payment, or fifty. Think of how arbitrary it is... What if I told you you had to purchase a certain item of clothing to please your significant other, and the clothing companies hyped it all up, and made it thousands of dollars, justifying it with the fact that the thread they use is "rare" and the production is difficult. Let me put it this way, why not a CZ instead of a diamond? I''ll tell you why, because it''s much less money that''s why, and they want you to spend more, not less, making you think that a CZ is an "insult to diamonds" and it is inferior, and so on and so forth...
 
Date: 6/6/2006 9:50:47 PM
Author: seeker78
My point was, we are made to think that we have to purchase these ''rare'' diamonds at any cost, whether it be one mortgage payment, or fifty. Think of how arbitrary it is... What if I told you you had to purchase a certain item of clothing to please your significant other, and the clothing companies hyped it all up, and made it thousands of dollars, justifying it with the fact that the thread they use is ''rare'' and the production is difficult. Let me put it this way, why not a CZ instead of a diamond? I''ll tell you why, because it''s much less money that''s why, and they want you to spend more, not less, making you think that a CZ is an ''insult to diamonds'' and it is inferior, and so on and so forth...
Click to expand...


wait till he learns about purses then he might have something to complain bout they make the diamond purchase look sane.
 
This is a diamond forum for heavens sakes. We love our diamonds, yes perhaps a waste of money in your book, but not in mine. I love my diamonds, hubby loves his golf. Is golf a waste of money?? To him no, it brings him a lot of pleasure. My diamonds bring me lots of enjoyment as well.
2.gif
 
well, if you are letting them "tell" you that you have to buy this or that, then you need to start thinking for yourself.

sorry to sound rude...not my intention...but I think you just cant let yourself fall into the advertising aspect of it. When you watch tv and the commercials come on....do you want to buy everything you see????
 
Date: 6/6/2006 9:55:28 PM
Author: kaleigh
This is a diamond forum for heavens sakes. We love our diamonds, yes perhaps a waste of money in your book, but not in mine. I love my diamonds, hubby loves his golf. Is golf a waste of money?? To him no, it brings him a lot of pleasure. My diamonds bring me lots of enjoyment as well.
2.gif
Click to expand...

I agree. I don''t think it''s a waste of money because it makes me happy.
 
exactly why I heartily endorse buying secondhand diamonds. 1/4 of the original cost.

but the joy of looking at them, nearsightedly, 200 times a day? priceless....
 

Sure. But then, most of what people spend money on could be described as a waste by someone. For example:


House. 95% of your money goes to mortgage interest, taxes, maintenance and other non-equity expenses. You’re not really buying a house, your banker bought a house, they’re just allowing you to live in it for a while if you promise to take care of it. This is nice enough, but is that unused bedroom and the basement full of junk really making your life better or have you just bought into a myth being propagated by the construction and real estate industries?


Vacation to Europe. You’re kidding right? Have you ever actually BEEN to Europe? Check out Wyoming. It’s cheaper and you’ll have enough money left over to both buy a diamond and you can make a mortgage payment in your fiancées name. Now that’s romantic.


Nice clothing, restaurants, cable TV service, movies, liquor. Are these better?


Motorcycles. OK, I agree, that’s important. Your chances of getting a slick bike for your middle aged crisis go way up if you came up with a diamond earlier. Trust me no this.


Neil Beaty
GG(GIA) ISA NAJA
Professional Appraisals in Denver
 
diamonds are not a total waste of money, but the money spent on a diamond should come out of the "luxury fund".

for example, i like to spend time just looking at my jewelry because it makes me happy. looking at my jewelry makes me happy pretty much every day so i dont think it is a waste.

as a comparison, my father just bought himself a high-end sound system for the living room. i cant understand why he needed it and actually cant really tell a difference i care about. maybe that was a total waste of money?

as long as it makes the person happy and they aren''t using the money they should be using for necessities or a house, it is not a waste of money. nobody should go into debt, obviously. everything is about marketing. the only way you could ever justify saying "diamonds are a waste" is if you never ever buy any non-necessary items. everyone buys non-necessary items though because of marketing. its not like diamonds are the only thing that happens to have good marketing. look at Lays Potato Chips or McDonalds. should I be pissed that McDonalds makes their hamburgers look so tasty on TV?
41.gif
 
Date: 6/6/2006 9:17:19 PM
Author: IndieJones
Boooo! Yes diamonds are pricey, and yes I want a diamond e-ring. It means a lot to me, and it''s something I''ll treasure for the rest of my life. It''ll always be a concrete reminder of how wonderful it felt to fall in love and promise to be togther for the rest of our lives. Besides, I''d really like a sparkly from him.
9.gif


And I have to say, as a LIW, I''m getting a bit annoyed at all the repeated ''house vs diamond'' talk. How on earth are the two connected? I''m hoping for a ring worth between 1 to 2 mortgage payments! That''s not going to make much of a difference in the long run. Heck, the ring is going to last longer than our next house anyway!
5.gif
Click to expand...
indie, you are working your hardest to find a secondhand diamond within your budget. good for you! and very smart to buy used.
 
You know what they say, ''A diamond is forever''. Yes, as a woman I think they are expensive, but I love my shiny baubles! It''s no different than what our hubbies like. For example, my husband loves fishing. Buys lures, baits, fishing poles, etc. And he likes only the very best of things. I think it''s a complete waste of money, but that is what he loves so be it. I would never tell him it''s a waste, because fishing makes him happy. He said the same thing about my diamonds. He said he can''t see spending money on something that comes from the ground, but he says if it makes you happy then it makes me happy and that''s all that matters. Of course, I wouldn''t want him to go into dept for it. He just got me a small ring because we didn''t have much money. I think it''s smaller than a quater carat. After 10 wonderful years he got me the big ring. So it just comes down to what can you afford.
 
I got a ring after 11 years of marriage...and it cost my husband less than $2 bucks a day. That''s a pretty cheap for a housekeeper, childcare provider, and courtesan all rolled into one!

I think he''s getting a heck of a deal!

Diamonds are forever!
 
First of all, as someone who is starting to own real estate, you DO own your home, and you are building wealth and equity when you purchase real estate. It''s one of the best things to invest in. There are loads of ways to make money that way, I am not here to argue that. Secondly, I realize, as someone who gets into their hobbies more than anyone else I know, I know people spend their money in lots of different ways, the justification of which is highly subjective. My point is that when we are spending tons of money, (thousands and thousands of dollars, which many of us do...), are we really spending money on something that is worth it, or are we buying into something that is ridiculous and frivolous and unncessary? When we purchase sports gear, or lliquor, or anything else, at least we are interacting with it in some way, whereas when we purchase a diamond for thousands of dollars all we can do is look at it and say "wow, that''s pretty" for about 10 seconds...
 
De Beers has nothing to do with the fact that diamonds are beautiful. Uniquely beautiful....in a special way unlike any other gemstone. People recognize that beauty and like to be around it. They''re special, and people like special things. If it costs more to acquire that special thing, but it is something they''ll enjoy throughout life, and it''s not going to put them in the poorhouse, then why the heck not! Even if it does put a couple into short-term debt, it will be well-worth it in the long run if the lady indicates that having a diamond e-ring is important to her. Lots of things in life are indulgent luxuries -- high-end sports cars, nice vacations, fancy restaurants....why must people always pick on the diamond lovers??? Beauty is beauty and it''s often expensive, whether it''s a Porsche 911 Carrera, 1 week in the wilds of Montana, a purebred bichon frise, or a 1/2 carat round brilliant. Funny how we never hear people ripping on the bichon frise lovers but diamond lovers are always fair game!
20.gif
 
Date: 6/6/2006 10:49:37 PM
Author: seeker78
[snip]whereas when we purchase a diamond for thousands of dollars all we can do is look at it and say ''wow, that''s pretty'' for about 10 seconds...
Click to expand...
LOL. You haven''t lurked around here long enough, apparently. "10 seconds" of enjoyment......OK, maybe if we''re looking at a piece of frozen spit. But most people here own extremely high-quality stones that will throw sparks, glitter, shimmer, and dance for A LOT longer than 10 seconds. More like....faaaaar longer than any of us will live on this earth. Generations of family members after me will be able to enjoy my diamond. I''m thrilled with the thought that my descendants will be able to wear and enjoy the same beautiful diamond that I so happily wore during my own lifetime.

Your last post revealed the reason why you are grappling with the whole concept of the diamond. You have zero idea how much a woman (or a man) can enjoy, love, ADORE their diamond. That enjoyment is priceless. You can''t put a price tag on it, which is why the tradition of giving a diamond to your beloved has stood the test of time. People LOVE their diamonds, plain and simple.
1.gif
 
Well, maybe not thousands of thousands of dollars. Just hundreds and hundreds. JK.. I think anything you don''t need in life,(house, clothes, etc) is a luxary. Even going out for a nice dinner is a luxary. I agree with you though. Somethings are more important in life to purchase than buying an expensive ring. As much as I love jewelry, I do have a limit on how much to spend on it. Somethings just have to wait.
17.gif
 
Date: 6/6/2006 10:49:37 PM
Author: seeker78
First of all, as someone who is starting to own real estate, you DO own your home, and you are building wealth and equity when you purchase real estate. It''s one of the best things to invest in. There are loads of ways to make money that way, I am not here to argue that. Secondly, I realize, as someone who gets into their hobbies more than anyone else I know, I know people spend their money in lots of different ways, the justification of which is highly subjective. My point is that when we are spending tons of money, (thousands and thousands of dollars, which many of us do...), are we really spending money on something that is worth it, or are we buying into something that is ridiculous and frivolous and unncessary? When we purchase sports gear, or lliquor, or anything else, at least we are interacting with it in some way, whereas when we purchase a diamond for thousands of dollars all we can do is look at it and say ''wow, that''s pretty'' for about 10 seconds...
Click to expand...

have you been over to the show me the ring forum. plenty of threads with people interacting with their diamonds. for most of us here we look at them 100''s of times a day and not a mere 10 secs. they make us feel special because if it''s a ring, it''s a symbol of his love and commitment. that''s what I saw along with the sparkle of my ring. most people agree with you, no one said diamonds are a good investment. I guess I don''t understand what point you are trying to make?
 
They are totally a waste of money. But so are a lot of things, like luxury cars (most $10,000 cars will get you from Point A to Point B just fine), designer clothes, fancy glass sinks (or any home accessory beyond the functional basic), lavish weddings, eating out, expensive furniture, premium liquor, designer make-up, etc. The list is arguably endless.

But sometimes unnecessary things make people happy or interest people. I get the sense a lot of people here are really interested in the "science" of diamonds. Others, like me, just like the sparkle. It''s a diamond/jewelry forum, so it seems odd to pose this question here. It''s like going to a cigar appreciation website and aksing if people think smoking is bad for their health.
2.gif
3.gif
1.gif
 
Date: 6/6/2006 10:49:37 PM
Author: seeker78
First of all, as someone who is starting to own real estate, you DO own your home, and you are building wealth and equity when you purchase real estate. It''s one of the best things to invest in. There are loads of ways to make money that way, I am not here to argue that. Secondly, I realize, as someone who gets into their hobbies more than anyone else I know, I know people spend their money in lots of different ways, the justification of which is highly subjective. My point is that when we are spending tons of money, (thousands and thousands of dollars, which many of us do...), are we really spending money on something that is worth it, or are we buying into something that is ridiculous and frivolous and unncessary? When we purchase sports gear, or lliquor, or anything else, at least we are interacting with it in some way, whereas when we purchase a diamond for thousands of dollars all we can do is look at it and say ''wow, that''s pretty'' for about 10 seconds...
Click to expand...

HA! This is where you are confused...we "interact" with our diamonds by looking at them for way longer than 10 seconds, multiple times a day! :) and by taking pictures of them and they make us feel good, whether its make us feel glamorous and pretty or make us feel happy thinking about how our fiance/husband gave them to us.

lol, if I purchased fishing gear and had to go interact with some fish id probably hate it.

by the way, liquor is pretty much unnecessary unless you want to get foggy brained... :-D

what about a painting? would you buy a piece of art for your house to have something beautiful to look at? or would you buy the CZ equivalent of a diamond, a poster, instead?
 
It used to be two months salary...I do not think people ascribe to that now

It IS a luxury item, but if one can afford it and loves it, how is it any different than fancy cars or stereos? At least it can hold value...though I do not really believe in the diamond as investment theory for the most part.

A person I know in the industry does concur that via supply manipulation, diamonds have an aura of rarity about them. Ask the folks here trying to find a certain size/shape/quality and they will tell you. However, if the diamonds were all released onto the market by the diamond cartels, the rarity factor would be next to nil and the cost per carat would plummet. However, as we know, this is not the case.

I do not think anyone here thinks pricey diamonds are proportionate to your love, but all here have a love for sparklies and like getting them...but I feel the people I have met here have their priorities in order!
 
seeker: im very confused by the way. you do seem to think that diamonds are a really big waste of money. why did you buy your fiance an eightstar diamond then??
 
Date: 6/6/2006 9:50:47 PM
Author: seeker78
My point was, we are made to think that we have to purchase these ''rare'' diamonds at any cost, whether it be one mortgage payment, or fifty. Think of how arbitrary it is... What if I told you you had to purchase a certain item of clothing to please your significant other, and the clothing companies hyped it all up, and made it thousands of dollars, justifying it with the fact that the thread they use is ''rare'' and the production is difficult. Let me put it this way, why not a CZ instead of a diamond? I''ll tell you why, because it''s much less money that''s why, and they want you to spend more, not less, making you think that a CZ is an ''insult to diamonds'' and it is inferior, and so on and so forth...
Click to expand...
Its called victoria secret. There is a markey and a large majority of people that purchase for the name and to look desirable to their significamt other. Why not a CZ? Why not Target brand? I know plenty of people that don''t have diamonds and don''t want them. Likewise I don''t want VS lingerie.
 
Status
Not open for further replies. Please create a new topic or request for this thread to be opened.
GET 3 FREE HCA RESULTS JOIN THE FORUM. ASK FOR HELP
Jewelry Blog
PriceScope-Concierge-Ad
Find prime cuts.
Top