Grateful for all the education

[PrincessClyde]

I am the manager at a tanning salon and one of our clients just got engaged. She is very young so I am sure that her fiancee has little money, but I must say, I feel a little sorry for the girl. She has three diamonds on her ring, and you literally need a magnifying glass to see them! I am not exaggerating. They are very small.

Yes, I realize what matters is the love the two of them share. But I know every person who finds out she is engaged will be checking out those diamonds.

That started a conversation between my boss and myself over the diamond he bought his wife 30 years ago. He was out of town somewhere and a guy pulled out a pouch with a diamond in it. The guy said the diamond was .93 carats and wanted $500 for it. My boss figured it was close to a carat and bought it!!

I haven''t examined his wife''s diamond that closely, but I don''t think it''s close to a carat by any means.

It just makes me so thankful to be learning all I am about diamonds from PS so I can make an educated decision about purchases.

I''d love to take her diamond in for an appraisal just to see exactly what the specs are. Any guesses as to what he might have really gotten for $500 30 years ago?

 

[Patty]

My sister got engaged almost 30 years ago and her 3/4 carat stone was $600 including a basic solitare setting and tax. Her stone is a VVS2 and J/K color.

 

[PrincessClyde]

Well maybe I am wrong then and he actually got what he paid for. I hope so. I obviously knew that diamond prices are higher now than 30 years ago, but I guess I didn't realize there was such a difference.

Thank you for the information.

 

[aljdewey]

Yep...my dad got my mom a top of the line settting in white gold - beauiful center stone (prob 1/2 ct - my mom's finger is a size 4) with 4 marquise accents on the set.




It was $500 in 1964, and that was a TON of money then.

 

[Mara]

Well if it doesn't look like almost a carat, it's probably a typical deeper cut, losing some of the ctw in the girdle or pavilion.

 

[knowverylittle]

Just an FYI, 30 seconds in Google shows the RPI has increased by an average of about 5% over the last 30 years:

1.05^30 = 4.32

So $500 30 years ago is close to $2500 today. BUT the cost of living is cheaper today and people have more disposable income.

 

[pqcollectibles]

----------------
On 12/11/2003 9:23:40 AM knowverylittle wrote:

Just an FYI, 30 seconds in Google shows the RPI has increased by an average of about 5% over the last 30 years:

1.05^30 = 4.32

So $500 30 years ago is close to $2500 today. BUT the cost of living is cheaper today and people have more disposable income.----------------

Huh?? The cost of living is cheaper?? Having lived the last 30 years, I can honestly say I find that hard to believe.

30 years ago, a pound of bologna cost less than $1 and now it hovers around $3 for 12 ounces. Do companies honestly think we don't notice when they decrease the amount sold to keep from charging more?? Three girlfriends and I could get together, each pitch in a Buck, and buy a large pizza and pitcher of coke for $4. You can't even buy the pitcher of coke, much less the pizza for $4 today. Gasoline was less than $0.50/gallon. We won't even talk about the price of gasoline now. I should own an oil company for what I spend at the pump these days.

Yep, PrincessClyde, Price Scope is a great place to learn. We get tons of info from Pros in the biz that is education motivated, not sales driven. Nothing like making an informed buying decision! Also, many great vendors to buy quality at lower prices and maximize the budget!

 

[knowverylittle]

>>Huh?? The cost of living is cheaper?? Having lived the last 30 years, I can honestly say I find that hard to believe

ROLF! I am only in my thirties and things seem more expensive even to me. Pick up a copy of this month's Money Magazine. The % of gross-income people spend on food, housing and cars is all down on what it used to be. Remember your salary has gone up too! Is it at least four times what it was 30 years ago? If so then pitch in $4 for the coke and pizza today!

Gas should be at least $3/gallon to get those gas-guzzlers off the road.. but don't let me go there! You know gas in Europe is probably over $5/gallon now.

Ok back to Diamonds.. I was just trying to highlight that spend $500 30 years ago was a reasonable sum. Go back 60 years and the working class had almost zero disposable income.

 

[knowverylittle]

Off topic: Had to find this out. The cheapest Regular gas in the UK is 76 pence / liter. 4.6 liters = on gallon, so that is GBP 3.50 per gallon. Exchange rate today is 1.73, so a gallon costs $6.05.

Note: A UK gallon is slightly bigger than a US gallon.