It really sucks when.............

[minmin001]

met my SO's friend (not close friend) today at a club, and he asked the friend when is he going to pop the question... the guy told him that he already bought the ring but haven't decided when he will be ready to pop the question yet.
Being the diamond nerd, I was certainly interested to know about the ring. He was all proud to say that he spent $10k on the ring and when I found out that the diamond is over $8k and it's a 3ct princess cut, all I could think of was... damm, must be a crappy diamond.
I felt really suck since he is someone I just met today and I can't say anything about spending $10k on a ring like that and have it in a safe, so for sure the return or exchange period will be over long before he pops the question is a VERY BAD IDEA!

 

[Gypsy]

Sounds like it's probably CE.

There are some situations you can't help. I mean you could say, "That sounds like a deal, tell me about the diamond..." and if he says CE or whatever you can TRY to educate him. But most likely he'll think you are a nosey PITA who is peeing on his parade.

I've used the, " You know when my husband was shopping there was this website, Pricescope.com (take out a sheet of paper and write it out for him), have you checked that out? They are apparently really good at evaluating your purchase to make sure you got a good deal. In this economy, it never hurts to double check."

I don't know if they people ever came on here, but I thought... if they DO, we'd be able to help them.

It does suck though. ((HUGS))

 

[TristanC]

Please don't stone me for this. I really really don't get the whole big diamond thing. Sorry.

I think 1ct is huge. 1.5 is massive but still doabl in good taste. 2ct in a well designed setting in good proportions can still be gorgeous if the wearer is bigger.

Anything larger is just...

Ok I said it. Sorry to lovers of big bling - I am frankly glad that you love it. Sometimes they do turn out wonderfully unexpectedly nice. Perhaps it is just cultural or a asian preference for slightly smaller things.

(I'm 190lbs, with a 31" waistline so I'm not exactly tiny. I understand proportion, so I guess it needs to look proportionately sized)

Now if it was HUGE and a great diamond - I can still appreciate it. It would smack of excess, but it would also be a lovely gemstone, with life, fire and sparkle.

When it comes in honking huge and looks like frozen spit, with pepper on it (Hell, what's spit without flavour right?)... All I can think of is "what, the, hell man?"

You don't need a hug... you have a beautiful ring. Poor girl he's going to marry though...

 

[Amys Bling]

yep, stinks when you want to help someone but you know it's not your place to do so... all you can do is "be interested" and ask about the stone.... or better yet tell him about this cool website you found..pricescope- and someone here can tell him all about good diamonds.

 

[iugurl]

Wow. I have never seen a 3 carat diamond that is only 8k. Even the i3, horrible cut, with bad coloring has been more than that... I can't even begin to imagine.

 

[NewEnglandLady]

Oo, this one is tough. A friend of mine's FI got a ring from a jeweler who is a "family friend" and when I saw the diamond, I had to consciously smile instead of drop my jaw and say "Holy crap, that is poorly cut". But you know what, she is a size girl and has no knowledge of diamonds at all, so she likes it. In some cases, ignorance is bliss!

 

[gemgirl]

If you asked, I guarantee he's going to say he has a relative in the business...... Don't ask and avoid the stomach ache.

 

[minmin001]

If you asked, I guarantee he's going to say he has a relative in the business...... Don't ask and avoid the stomach ache.

he bought it from a local store. paid full in cash which is probably why the owner lowered the price as well.. but still...

 

[TristanC]

When there is money involved. I always find that friends are better than family.

I manage some real esate, and I can't tell you the number of times people went the family route (instead of me) and ended up in untenable situations, or buying absolute crap. Frequently they were on to a good thing, before a parent or uncle introduces a close friend etc etc, and it all goes pear shaped.

And we are talking 1ct VS FCD losses on the buyer side here. sigh.

Of course I practice as I preach, and I refuse to deal with family when money is involved. Too many obligations and assumed responsibilities.

 

[TristanC]

In case my last post came across as a bit self serving (e.g.: doesn't everyone say this?)... one specific recent example was at the beginning of last year. I set up a purchase for a friend, only to have his mother bring his uncle in; who convinced him that he should rent and wait for market prices to soften.

$38K in rent and one year later, prices surged by some 30% nationwide (more in certain cases like the one I sourced for him - it doubled). He would have made $890K today all told, just 17months after the event. Instead he is out rent money, and buying in today's market. What he bought today is $200K more than at the same time last year, and also of a lower asset class. The equivalent of what he could have bought is completely out of reach now with the doubling of prices.

Even if he were to come to me now, I can't replicate the opportunity that was available then. All because he chose to listen to his Uncle instead. Relatives...

 

[lbbaber]

In case my last post came across as a bit self serving (e.g.: doesn't everyone say this?)... one specific recent example was at the beginning of last year. I set up a purchase for a friend, only to have his mother bring his uncle in; who convinced him that he should rent and wait for market prices to soften.

$38K in rent and one year later, prices surged by some 30% nationwide (more in certain cases like the one I sourced for him - it doubled). He would have made $890K today all told, just 17months after the event. Instead he is out rent money, and buying in today's market. What he bought today is $200K more than at the same time last year, and also of a lower asset class. The equivalent of what he could have bought is completely out of reach now with the doubling of prices.

Even if he were to come to me now, I can't replicate the opportunity that was available then. All because he chose to listen to his Uncle instead. Relatives...

Wait for market prices to soften? I am no excpert but even I realise that last year they were as soft as I ever seen. We bought and were SOOOOO happy with the market. Your friends uncle sounds like an idiot.

ETA---oops, I just assumed you are in the US. Maybe its different where you are?

 

[fleur-de-lis]

In case my last post came across as a bit self serving (e.g.: doesn't everyone say this?)... one specific recent example was at the beginning of last year. I set up a purchase for a friend, only to have his mother bring his uncle in; who convinced him that he should rent and wait for market prices to soften.

$38K in rent and one year later, prices surged by some 30% nationwide (more in certain cases like the one I sourced for him - it doubled). He would have made $890K today all told, just 17months after the event. Instead he is out rent money, and buying in today's market. What he bought today is $200K more than at the same time last year, and also of a lower asset class. The equivalent of what he could have bought is completely out of reach now with the doubling of prices.

Even if he were to come to me now, I can't replicate the opportunity that was available then. All because he chose to listen to his Uncle instead. Relatives...

Might I ask in which country is this real estate bubble inflating?