Many years ago at Green River Community College, I had a sociology teacher who also had a habit of teaching life lessons. Mr. Guinn was a fountain of trivial knowledge that really wasn’t all that trivial.
For instance, he told the class once that if we ever break a law, break a federal one because the prisons are far nicer than those in any state. In comparison, it would be a life of leisure.
I’m still not sure how he knew this, but it still sounds like good advice.
There were countless other pearls of wisdom like that. I don’t really remember much about sociology, at least from him. But I do remember one piece of advice that has stuck with me since, though several people in my life have argued until they’re blue in the face that I am wrong.
Finally, someone in the diamond industry has told the truth – diamonds are worthless as an investment.
It’s one of the best scams in the world, diamonds. Mr. Guinn told us all those years ago that a cut diamond was no better than a piece of cut glass, virtually worthless.
Oh, I can hear the chorus out there right now, saying that I must be full of sh**.
But here’s the story right from the horse’s mouth – a diamond dealer for the last 10 years who has traded all over the world and is now the founder of TruthAboutDiamonds.com, a site dedicated to spreading the truth about that flawless diamond women around the world think is worth even half of what your husband or fiance paid for it.
First, engagement rings aren’t some ancient tradition. The idea of giving an engagement ring is not a very old concept at all. The people at De Beers, you know, the diamond barons, thought it up. They sent a bunch of lecturers to high schools throughout the U.S. to teach girls about the ancient tradition of giving engagement rings, the one they had made up in 1947 after realizing the power of mass psychology.
Spending a month’s salary on a ring is another myth the diamond folks created to increase sales. If you really think about it, this is about the stupidest thing a new bride and groom to be could do. You’re trying to start out a new life together and you’ve just blown a month’s salary on a a ring for the bride to be’s finger.
A worthless ring, no less. An uncut diamond is worth something. A cut diamond is worth about as much as any semi-precious stone. Ever notice how you can’t sell a diamond for even half what you paid for it only days before? It’s value is based on what you were willing to pay for it. There’s no magic cut diamond market out there determining its value.
I hear more cries out there. “But it shows my man loves me. It is a symbol of his love.” I’ve seen a lot of women over the years who have a stunning ring on their finger who have paid for it one day at a time with a broken heart, an absentee husband, or worse, with the bruises on their bodies that are hidden away from sight. Perhaps the glistening ring’s purpose is to simply distract others from the wounds that will never heal.
I’m not saying you shouldn’t consider diamonds. They are lovely. But do your homework first. Realize that grading isn’t absolute and that the grade can greatly impact the price you’re going to pay, even though it is an opinion only. Watch the diamond guy’s video where he sent a diamond off to three grading institutes. The price range was $2,000 to $7,000, for the same diamond! If you must have a diamond, do your research before you ever step into a jewelry store. Know exactly what you want and guys, don’t let the salesman guilt you into buying something bigger or more expensive than you planned. Knowledge, as they say is power. Use it.
I don’t want you to think I am a heartless person. As most of you know, I am a hopeless and incurable romantic. I have resisted the temptation to purchase a diamond ring largely because of what Mr. Guinn told me so many years ago.
That’s not to say that a diamond ring isn’t a lovely piece of jewelry. So are rings made of lots of semi-precious stones. I have seen amethyst and emerald rings that would put any diamond ring to shame. And yes, I am jaded (no jewelry pun intended). I look at a $5,000 diamond ring on someone’s hand and think, wow, that’s a pretty good start on a down payment on a house.
O.K., so I’m a practical romantic. I have purchased jewelry for a significant other. I just don’t really like diamonds. It’s not the cost. It’s the value. I don’t think a guy has to drop a ton of dough on you to show that he loves you. And I have to question a woman who thinks she needs to have that done, thinking it proves how much her guy loves her.
Truth be told, I’ve had friends pick up a stunning diamond ring for their wife after spending a night with a girlfriend and once, a hooker. One guy called it “hush money.” She’ll be so enthralled by this symbol of love, the thinking goes, she won’t even wonder where he’s been or more important, who he was with.
It’s fine if you want to buy a diamond ring because it’s pretty. But I’ll bet you a thousand bucks that I could get the same ring with a manmade diamond and you couldn’t tell the difference. Of course, I could. But only because I’d still have a month’s salary in the bank to take you on a fabulous honeymoon to Tahiti.
In the Emerald City, staying out of the diamond lane on the way to the jeweler.
– Robb