My mother-in-law wants to buy an approximately 1 carat diamond ring for personal use, and also as kind of an investment.
Where would be the cheapest reputable places to buy one?
We would need one that comes with a certificate to show the clarity/quality. But can these certificates be trusted and compared easily? We are new to buying diamonds, so any advice on how to avoid the pitfalls and get a good deal would be appreciated.
Thanks, I mostly agree, but her sister bought one 5 years ago and it's retail value has gone up. She will want to buy one anyway regardless of investment value, so any advice on getting a good deal and avoiding pitfalls would still be greatly appreciated.
The retail value has gone up but these things most certainly will fall in value if sold second second hand. No one buys a second hand ring for engagement purposes or even to give you mother in law. There is just no demand for such things.
Your MOL might as well just invest in 4 bitcoins and that would have a better chance of increasing in value than diamond rings.
Retail value from a shop yes, but try and sell if for half of what you bought it for…
that seems odd
Retail value != Resell value, if you want to convert to cash, you hardly get 70% of its value, if you lucky, so it is not a investment.
a 'retail' value is only really an insurance valuation.
It's real value is what you can sell it for and it would be considerably less.
Purchasing diamonds from Australia is expensive.
This thread on sourcing an engagement ring might be a good read for you.
Thanks for the suggested thread.
Agreed with the others - imo she'll be better off buying gold bullions.
But if she's adamant try Jogia Diamonds. Bought a diamond from them for an engagement ring - they were pretty good.
Dumbest idea ever.
Advise her not to do it and then stay out of giving her any other advice as you might cop blame if they ever try to sell it and can only get 50% of purchase price. Steer well clear of this.
Where would be the cheapest reputable places to buy one?
I've had good experiences with bluenile
You're all preaching to the converted that it's not a great investment (although better than a service which has no resale value, so it's all relative). Women like diamonds and she will buy one anyway.
Information that the resale value for diamonds is much lower than retail is indirectly quite relevant & helpful actually. So does anyone know the pitfalls and best value way to buy a diamond ring secondhand?
the 1 I got has gia certified diamond, tells u about the diamond on the paper and has the same serial number on the diamond if u look under magnification.
I heard of some SMSF buying Argyle diamonds for investment. You would have to buy the stone wholesale I imagine otherwise it would take a long time for the value to recover the loss due to the store profit.
Ebay, Gumtree, Prouds or try Blue Nile.
I have no connection to this company other than being a customer. You can buy whatever quality level you want at a price to match, if you want a carat it will be cheaper and better quality than any of the retail chains, even when they have their sales. Can get one that certified too: Top Image Jewellery in Little Collins St Melbourne
Diamond rings are not a investment, they don't have good resell value, if you lose it or some one steal it, there goes your investment.