Hi Ladies,
So now that I am in my mid-twenties, I thought that it would be appropriate to buy bigger diamond studs (the studs I have now are 0.34 tcw), and I was bouncing this idea to my best friend, who is an investment banker on Wall Street (econ major undergrad), and he said to me "Why do you buy diamonds? They are a horrible investment!" This got me thinking about the whole diamond industry (which I always knew about but chose to ignore when making jewelry purchases), and I started to do some research about how much a diamond investment is really worth when I stumbled upon this: http://profit.ndtv.com/news/your-money/article-why-gold-is-a-better-investment-than-diamonds-369277
Even knowing this, however, I might still go ahead and purchase diamond studs, and then I started to think about my thought process from a psychological standpoint. Do I really NEED diamond earrings, knowing that they are practically worthless and useless (other than in technology), and that there are huge ethical issues behind them? And then I realized that I have fallen into the De Beer's advertising trap. I know that for most of the jewelry I buy, I usually tend to think about the investment qualities of the piece. So now, I think I am going to pull back from buying diamonds for a little while...
I guess I am writing this because I want to ask you ladies: Why do you buy diamonds? Would you still buy diamonds knowing that they are not a great investment? I am starting to feel great guilt for spending so much money on things that aren't going to hold its value...
So now that I am in my mid-twenties, I thought that it would be appropriate to buy bigger diamond studs (the studs I have now are 0.34 tcw), and I was bouncing this idea to my best friend, who is an investment banker on Wall Street (econ major undergrad), and he said to me "Why do you buy diamonds? They are a horrible investment!" This got me thinking about the whole diamond industry (which I always knew about but chose to ignore when making jewelry purchases), and I started to do some research about how much a diamond investment is really worth when I stumbled upon this: http://profit.ndtv.com/news/your-money/article-why-gold-is-a-better-investment-than-diamonds-369277
Even knowing this, however, I might still go ahead and purchase diamond studs, and then I started to think about my thought process from a psychological standpoint. Do I really NEED diamond earrings, knowing that they are practically worthless and useless (other than in technology), and that there are huge ethical issues behind them? And then I realized that I have fallen into the De Beer's advertising trap. I know that for most of the jewelry I buy, I usually tend to think about the investment qualities of the piece. So now, I think I am going to pull back from buying diamonds for a little while...
I guess I am writing this because I want to ask you ladies: Why do you buy diamonds? Would you still buy diamonds knowing that they are not a great investment? I am starting to feel great guilt for spending so much money on things that aren't going to hold its value...