> As soon as you leave the jeweler with a diamond, it loses over 50% of its value.
If someone can point out a place where one can purchase a diamond for half off retail price, please do so.
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https://www.idonowidont.com/
Here we go. First two rows of results:
- A $9200 solitaire diamond ring going for $4700
- A one carat engagement ring originally priced at $2500 going for $650
Almost half of all marriages result in divorce, so Craigslist is a good place to start. You'll want to have the item evaluated at a reputable jeweler, and work out a fee in advance, but you can save a fortune that way. I think the mindset for a lot of sellers is that they just want to put their past behind them and aren't concerned with getting top dollar.
With such inflated prices and a lack of resell channels, you'd think the diamond market would be great for a healthy second-hand market. Why is there none yet?
But it's still better not to buy into the scam in the first place.
I'm not American, and Dutch culture has no special preference for diamond rings. (Just plain gold wedding rings.) Or at least didn't; it wouldn't surprise me if this scam has also been crossing the pond like so many other questionable ideas.
I had to fight my Chinese wife's tooth and nail not to play in that shame game "but everyone else has a huge diamond ring". My god, get it yourself, it's just a ring, I won't do like some friends who borrow on 5 years to buy one so big the girl is scared to wear it and put it in a safe...
I bought her a small 300 euros one, she found it almost insulting but after a month, stopped wearing it "because it's a bit heavy" and "it's just a ring, it's true it doesn't really matter". 5 years later, we're still married with a child and she wouldn't even remember where she put the "diamond".
I'm no expert in this, but I'd assume this works the same way as any other market for used items: those who will resell your item will pay a lot less for it so there's margin for them to make a profit.
Pawn shops?