Diamonds: Investors' best friends?
The precious gems have long been treasured by collectors and brides to be. But with help from new funds, investors are increasingly turning to these stones as well.
VIDEO ON MSN MONEY
The markup on diamonds is so high that the average person has no chance of making any money buying a diamond as an investment and reselling it at a later date. Additionally, DeBeers is an International Cartel, which stabilizes and controls the price of diamonds worldwide. They've been successful at doing so for many years, but without them, the price of diamonds would seek it's own level, one that would be considerably less than it is now.
It's true, the Russians have discovered diamond pipes in their country and have produced a large number of stones, but they work with DeBeers, since it's in their best interest to maximize the value of the stones they have mined.
The best way to invest would be to invest in DeBeers, but you can't, since it's privately held. Any other investment in diamonds, ETF's, diamond funds, individual stones, IMO, is too risky.
what a croc of ****. I have been buying and receiving diamonds for years. I'm 68 now. Try selling them. Even Good antique glass has dropped in price. The only thing I have seen go up is Gold and now it is on it's way down.
Oil is certainly up.
Believe me our inflated market is a sham. I lost $93,000.00 in 2000 and they say it has come back. NOT only some came back. My advise get out now. Who gets all that lost money. The Government allows you to recover $3000.00 per year for 5 years. You don't recover.
And the people who elected him will NEVER cry about the crap economy as long as one of "theirs" is in the top office. Ladies and gentlemen, I thought that "1984" could only happen in a totalitarian regime! These people have WILLINGLY sold themselves into being proles!
the guns you could have the diamonds...........true story
Gem stones and diamonds are no investment, less then 1% are of any value at all, and only to collectors, like "Beanie Babies". I tell all my customer's this yet they insist on the best quality. Diamonds under 10points I charge $10.00. I'm selling colored stones sapphire and ruby in 10ct parcels for $10.00
I can't give this stuff away, since the industry started buying gold we all have 100's of carets.
Don't rely on appraisals either.......an AIG appraisal I received on a necklace wasn't worth
the paper it was written on. The appraisal was about 90 % off in favor of the auction house.
Today, diamond wholesalers, retailers, and "Prosumers"/Investors can obtain online the education required and use tools like the DiamondMaster App to monitor diamonds global values in 11 foreign currencies, and their values in exchange to gold's annual moving average (appstore.com/diamondmaster). An ETF when approved will provide another option, but most I believe will want physical possession ...especially during troubled economic times. All "Luxury Investments," art, collectable cars, jewelry, certificated diamonds and colored gems are best enjoyed and not kept in a vault like gold bars that typically need to be refined periodically for renewed hallmarks.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The stock market punctuated July with a broad-based retreat that sent the S&P 500 lower by 2.0% with all ten sectors ending in the red. The benchmark index posted a monthly decline of 1.5%, while the Russell 2000 (-2.3%) underperformed to end the month lower by 6.1%.
To get a better feel for what led to today's retreat, we'd like to look back to Wednesday, when the market had ample reason to rally, but did not. Instead, it ended basically flat after a sloppy day of ... More
More Market News
|There’s a problem getting this information right now. Please try again later.|
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'