Would YOU spend $50k for a diamond?

[Circe]

Heh, I can't believe I missed this thread on its first go-round! But yay for second chances - thanks for reviving it, Yoyosaidfeia!

I would spend 50k, if we had a combined after-tax income of half a mill a year, OR if we won the lottery/got a huge bonus/had some sort of windfall to the tune of 50k post-tax. But, like DS, I would want to find a bargain, so it would probably be more of 50k-for-a-pre-loved-antique-piece kind of a thing. Something like this, if I was lucky ... http://www.1stdibs.com/jewelry/rings/engagement-rings/358-carat-european-cut-diamond-antique-engagement-ring/id-j_65783/

P.S. - I'm kind of fascinated that so many people would eschew a big stone for fear of it being thought a fake. I go in the opposite direction, I think ... I love vintage paste jewelry, but I only go for the pieces that are SO big that nobody will think I'm trying to pass them off as something they're not. Two sides of the same coin, I guess!

 

[whosurdaddy]

This is so very true!

Oh, it is easy for us to say we wouldn't spend that much on a diamond because most of us can't. But come on, if my husband made millions a year, I am quite certain I'd have a tasteful well cut, high color and clarity diamond...or two or three!

For 50K, I would pick size over color but no lower than a G or H depending on the shape (There was this EC I really wanted and it's 54K). I'd never pick a FL but it has to be eye clean. Cut>Carat>Color>Clarity

 

[TracyBear]

When does it ever end?
A: $100K with setting included if it's my own money. Even if I won the lotto I wouldn't spend more than this on any ring. If it's a gift from others than the bigger the better, no limit!!

What's the lowest you would settle for?
A: Depends on the guy I'm with. The more I love the guy the lower the limit. My current fiancé, $25K. Previous dude, $250K. My childhood friend since 1st grade and first boyfriend, free, $0K. Ah, to be young, stupid, and in love.

What realistically would you want/expect for that $50k??
A: An ideal cut, colorless, 2-2.5ct RB stone.

Would you pick size over color?
A: No, I'm color sensitive. G is the lowest I can go. Colorless diamond preferred.

Would you pick Flawless???
A: I have, but I can do down to VS1 if necessary.

Would you pick the best cut possible???
A: Yes, cut is most important because I LOVE me some sparkles!!

Would you have to have all and sacrifice the size somewhat?
A: Nope, a H&A, G color VS1 diamond in the largest size that I could afford is fine with me.

 

[msop04]

Hi:

This is a very frivolous questionI know but realistically, $1,000, $2,000, $3,000, $4,000, $5,000. is a lot for a stone..... When does it ever end? What's the lowest you would settle for and what realistically would you want/expect for that $50k??
Would you pick size over color?

Would you pick Flawless???

Would you pick the best cut possible???

Would you have to have all and sacrifice the size somewhat?

OR: Would you say that the whole thing is ridiculous and you would spend less and get decent, smaller but with a good color and cut and eye clean!

Abso-freakin-lutely!!

I'd get the largest MRB or AVR (EX,H+ color,eye clean) that $50K would buy!!! My ultimate upgrade would be a 10mm solitaire!!!

BAM!!

 

[TracyBear]

From what I've read of most millionaires, they don't value 'status' symbols (most don't drink expensive wine or drive luxury cars) and it's the 'aspirationals' who want to appear rich who care about these things.

I LOLed when I came to your statement. What you've read is an idealistic warped view of reality. From what I've witness firsthand being around multi-millionaires, I can not name one person who DIDN'T drive a luxury car. People who are at the top of their game get there by being ambitious and just as a scholar display his knowledge in form of a degree, they display status by materialistic wealth. The most admired millionaires are humble, that's not to say that they value status or enjoy fine wine, cars, women, holidays at exotic locations, etc. They just don't brag about it. If the rich do not care about status symbols, how do you think place like Cartier and Hermes still exist today? It certainly isn't the have-nots who are purchasing their overpriced goods.

 

[msop04]

If I had it, I'd get a fat delicious 3-4 carat canera cushion in an emilya halo. And I'd stuff it in everyone's face. Because I am a shameless glittermonger....

...and the light shone down and the angels sang.

We are kindred spirits, soxfan...

 

[soxfan]

If I had it, I'd get a fat delicious 3-4 carat canera cushion in an emilya halo. And I'd stuff it in everyone's face. Because I am a shameless glittermonger....

...and the light shone down and the angels sang.

We are kindred spirits, soxfan...

 

[jaysonsmom]

Yes. and I'd get this diamond with custom VC setting:
http://www.oldworlddiamonds.com/detail.php?ID=1149&SHAPE=C

 

[Rosebloom]

Yes. and I'd get this diamond with custom VC setting:
http://www.oldworlddiamonds.com/detail.php?ID=1149&SHAPE=C

Me too! Except I'd send that beauty to Single Stone. But it would end up costing more than $50k!

I really need to win that lotto soon.

 

[pixgirl]

I wouldn't spend $50000, but would spend $20000 and I would pick the stone that my eye loved. Stats are a good starting point, but letting your eye choose appeals to me.

 

[lovebug1031]

I'd get this yumminess and still have a nice chunk left over for a setting!

http://www.goodoldgold.com/diamond/8140/

 

[arkieb1]

Yep I'd spend it. I'd go for cut first then size then clarity and then colour. Or something exotic and fancy coloured which would be tiny as Kenny has illustrated. People who are very wealthy spend hundreds of thousands on diamonds (many of them have heaps of pieces diamonds coloured stones etc) $50 000 is not a high price at all. I knew a lady here who would walk into Tiffany and Paspaley pearls and put well over $100 000 at a time on her husbands credit card for no special reason and think nothing of it....

 

[astar11]

I think its about preference and size of your income.
As what already said if a person has large disposable income then he / she would. Just like whether we will spend 10k or more on birkin / kelly. Both hermes and diamond arent investment but more for enjoyment.
Some prefer to spend on diamond but some loves bag more.

Diamond is illiquid asset. If i want big diamond and can afford, i probably will once and for all.

 

[Lisa Loves Shiny]

I would never spend $50K on a diamond because I do not have the type of money that could justify such luxury. I think about all the things I could do with that money and my kids, and my favorite charity seem much more worthy. An example is a few weeks ago there was this really sweet schnoodle that got hit by a truck and his owners did not have the money to pay for his care so they chose to put him down. We paid $2700 dollars to the vet as an anonymous donor and the schnoodle lives, albeit with some hardware in his jaw and he is now blind in his right eye. Since I am not wealthy that type of expense is a luxury to me, and it seems more important then a diamond.

However.....if I won the lottery, I could see spending 50K on a diamond. It would be an old cut diamond. I would search pawn shops, Old World Diamonds, and Jewels by Erica Grace for such a beauty. I would only consider size, and the diamond being old cut as my starting point. I would see what appealed to me in pics and at hand. I got really lucky with this method in choosing my engagement ring. I saw the diamond that made my heart beat faster, and bought it. It only has the jeweler's appraisal which we all know is not worth as much as a GIA cert. But I have never seen a diamond since then that looks as good to me as my diamond does. So I am not someone who relies on paper, I rely on my eyes if that makes sense.

 

[rosetta]

Heh, I can't believe I missed this thread on its first go-round! But yay for second chances - thanks for reviving it, Yoyosaidfeia!

I would spend 50k, if we had a combined after-tax income of half a mill a year, OR if we won the lottery/got a huge bonus/had some sort of windfall to the tune of 50k post-tax. But, like DS, I would want to find a bargain, so it would probably be more of 50k-for-a-pre-loved-antique-piece kind of a thing. Something like this, if I was lucky ... http://www.1stdibs.com/jewelry/rings/engagement-rings/358-carat-european-cut-diamond-antique-engagement-ring/id-j_65783/

P.S. - I'm kind of fascinated that so many people would eschew a big stone for fear of it being thought a fake. I go in the opposite direction, I think ... I love vintage paste jewelry, but I only go for the pieces that are SO big that nobody will think I'm trying to pass them off as something they're not. Two sides of the same coin, I guess!

Circe, you're very fiscally responsible, more than me anyway! If you made 500k post-tax every year, then 50k is only 10% of your income for a single year. That's a pretty small amount. What would you do with the other 450k every year?

I'd spend it on more diamonds.

 

[Acinom]

I already did...
However, this was before the period of economic instability.
And... I traded back some of my jewelry to lower the out of pocket costs considerably.
I am still happy with my decision as I wear my 5+ ct ring every day (which lowers the 'cost per wear' ).

Would I do it again? I might... But only by 'sacrificing' part of my jewelry collection.

 

[Circe]

Heh, I can't believe I missed this thread on its first go-round! But yay for second chances - thanks for reviving it, Yoyosaidfeia!

I would spend 50k, if we had a combined after-tax income of half a mill a year, OR if we won the lottery/got a huge bonus/had some sort of windfall to the tune of 50k post-tax. But, like DS, I would want to find a bargain, so it would probably be more of 50k-for-a-pre-loved-antique-piece kind of a thing. Something like this, if I was lucky ... http://www.1stdibs.com/jewelry/rings/engagement-rings/358-carat-european-cut-diamond-antique-engagement-ring/id-j_65783/

P.S. - I'm kind of fascinated that so many people would eschew a big stone for fear of it being thought a fake. I go in the opposite direction, I think ... I love vintage paste jewelry, but I only go for the pieces that are SO big that nobody will think I'm trying to pass them off as something they're not. Two sides of the same coin, I guess!

Circe, you're very fiscally responsible, more than me anyway! If you made 500k post-tax every year, then 50k is only 10% of your income for a single year. That's a pretty small amount. What would you do with the other 450k every year?

I'd spend it on more diamonds.

Early retirement.

Which would probably turn into travel ... which, knowing me, would turn into hunting down weird cool vintage things ... which, with the kind of budget to which I could easily become accustomed, would probably soon turn into bulk ... which, in an ideal world, would just lead to my being the next Tadema Gallery (http://www.tademagallery.com/). So in a way, I suppose I'm right there with you!

Just ... gah. That 50k might not go to a diamond after all, what with having been earmarked for this lovely thing ....

 

[bgray]

Yes I would--and have. There are all sorts of reasons people spend large sums of money on a single item. A new BMW may cost more than 50K and that seems like a colossal waste of money to me personally. Second homes, luxury cars and so forth can be very expensive and seem over the top purchases. I believe that high quality jewelry and gemstones provide a great deal of personal enjoyment and can be decent "investments." I love jewelry and my goal wasn't simply a large diamond but a diamond that suited me personally. I wear my diamond and other pieces everyday and have never thought anyone thought my ring was fake for what it is worth.

 

[missy]

Yes I would--and have. There are all sorts of reasons people spend large sums of money on a single item. A new BMW may cost more than 50K and that seems like a colossal waste of money to me personally. Second homes, luxury cars and so forth can be very expensive and seem over the top purchases. I believe that high quality jewelry and gemstones provide a great deal of personal enjoyment and can be decent "investments." I love jewelry and my goal wasn't simply a large diamond but a diamond that suited me personally. I wear my diamond and other pieces everyday and have never thought anyone thought my ring was fake for what it is worth.

Yes, absolutely. If one has enough income/investments/cash flow why not? As others have written it is all relative. 50K to someone might be like 5K to someone else depending on their income level and where they are in life. The number itself is meaningless without the whole picture.

Jewelry brings me pleasure. I am not into fancy cars or other expensive hobbies (relatively speaking) and I do not feel guilty for spending disposable income on something that I enjoy wearing. It's wearable art IMO. Personally I don't care if someone thinks what I am wearing is fake. I wear it for me and no one else.

I don't look at jewelry as an investment because in my case it is not and I don't expect I will ever get anything close to what I paid for it if I had to sell it. For that reason we only spend what we can comfortably afford on these luxuries. I am also looking forward to hopefully retiring one day and since the economy suffered a few years ago and my dh changed jobs we have been even more careful with our spending.

We still give generously to our favorite charities despite making luxury purchases. I mention this because some posters wrote they thought spending that much on jewelry was a waste as they would feel guilty when they could give that $$$ to charities. What I spend on my jewelry has nothing to do with what we give to our charities. We have a fixed amount that we save just for our charities. Even during the recession we didn't touch that money.

We try to be smart about our spending and it is a careful balance. I want to enjoy our life now and do things that bring us joy but always looking towards the future. I think we are managing the balance pretty well.

 

[LLJsmom]

Fun question!!

Yes, definitely, I would spend more once I have the funds. I think it's a matter of what you spend money on. People spend a ton on travel, cars, clothing, entertainment, the stock market. I don't indulge in much of any. I drive safe, modest, reliable car that requires little maintenance. I don't my hair regularly. I bring lunch to work. I don't shop because I am bored. I don't buy stocks, buy gadgets, spend a ton on trips, or have any other expensive hobbies. Diamonds are what I like. I still have a mortgage and other responsibilities. I work for a living. I am fine with spending that kind of money on a diamond because I consider it an investment, something that gives me pleasure, and it's something that I can pass on to my children and grandchildren.

So, I am aiming to trade my 2.59 for a +3.5 carat. The lowest I would go is an H, and VVS2. Of course, best cut possible without question.

Or, do I just buy another diamond, a 2+ carat AVC? I think I am leaning toward this option because I would like more options, to have a MRB and a AVC.

 

[AprilBaby]

I would pick a gorgeous yellow cushion with an E, vs1 halo.

 

[Dancing Fire]

Yes, any PSer wanna loan me $50K?... My piggy bank is empty..

 

[missy]

Yes, any PSer wanna loan me $50K?... My piggy bank is empty..

LOL, I think if you sold a watch or 2 in your collection DF you could easily get your hands on 50K...

 

[Dancing Fire]

Yes, any PSer wanna loan me $50K?... My piggy bank is empty..

LOL, I think if you sold a watch or 2 in your collection DF you could easily get your hands on 50K...

But those are my "guy" blings... still waiting for my wife to buy me a 2.5ct rb...