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Owning multiple diamonds

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diamondlove123

Shiny_Rock
Joined
Jun 28, 2016
Messages
231
hi, I have seen many articles stating diamonds are bad investments and many pricescopers here agree. However, many people on this forum while fully aware that diamond lose value quickly the moment you buy and also that resell typically would be at a loss still own multiple diamond rings. I am curious and want to get people's view on their decision to own multiple rings. I love stones and contemplating buying another in addition to my ering. While I love the idea of a larger round solitaire, part of me wonders if I am making a sound choice with money. Sometimes it's not logical what I want e.g. Another ring and many of my friends certainly cannot understand this. So I am turning to this forum to gage viewpoints and thoughts with people who share similar passions and understand their decisions in purchasing multiple rings.
I would love to hear different views.
Thanks
 
It's the magpie effect, see shiny, sparkly things and want them!

I don't think there's a logical reason, my DH can't understand what the fascination is, the heart wants what the heart wants. I think as long as you can afford something and it gives you pleasure, then why not. As you say, buying jewellery as an investment is not going to make you rich, unless you've got something so rare and unusual that other people want it, then buy because you like it. I've seen lots of jewellery in auctions go for a fraction of what they must've cost new.
 
There are a lot of things in life that are bad investments, but that people still buy because they love them (cars, boats, most horses, etc.). I don't look at my diamonds as investments, I look at them as a very expensive hobby :dance:
 
Wewechew said:
There are a lot of things in life that are bad investments, but that people still buy because they love them (cars, boats, most horses, etc.). I don't look at my diamonds as investments, I look at them as a very expensive hobby :dance:
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Yes, and they look a lot prettier than the face of Franklin. But if you ask me, sometimes I am not sure if I want a stash of Franklins or a diamond. Equally attractive.
 
SomethingNew said:
Yes, and they look a lot prettier than the face of Franklin. But if you ask me, sometimes I am not sure if I want a stash of Franklins or a diamond. Equally attractive.
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That's something I've been struggling with the last couple months when I've noticed something sparkly that I want. Balance is key.
 
I guess I've purchased several diamond rings just for the enjoyment they give me. I actually don't wear much jewelry but I just like glancing down and seeing a pretty sparkly on my hand. I get a little bored wearing the same ring all the time so I enjoy the variety of having a few different rings to wear. Eventually my kids will get them, and they can do what they'd like with them. I didn't really purchase them for investment purposes and I know I won't get back what I paid for them. But the same holds true for other things, like cars lol! It's an expensive hobby and I do struggle with that, so I'm probably done with big purchases at this point. But I do wear and enjoy what I have.

I do understand where you're coming from. That said, if you do decide to get another ring…post pics!:D
 
I try to buy older, antiquey pieces or preloved items- thanks to sites like Etsy and Rubylane there's plenty of choice. I feel like I don't overpay for my sparklies and am pretty sure I could resell for a similar amount, if I needed or wanted too.
 
I don't think they are investments but I enjoy having multiple rings and bands to wear.
 
It's a hobby. Same as having a boat or a stamp collection or a pet, etc. Sky's the limit on how people choose to spend money to enjoy themselves.
 
junebug17 said:
I guess I've purchased several diamond rings just for the enjoyment they give me. I actually don't wear much jewelry but I just like glancing down and seeing a pretty sparkly on my hand. I get a little bored wearing the same ring all the time so I enjoy the variety of having a few different rings to wear. Eventually my kids will get them, and they can do what they'd like with them. I didn't really purchase them for investment purposes and I know I won't get back what I paid for them. But the same holds true for other things, like cars lol! It's an expensive hobby and I do struggle with that, so I'm probably done with big purchases at this point. But I do wear and enjoy what I have.

I do understand where you're coming from. That said, if you do decide to get another ring…post pics!:D
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I don't wear a lot of jewelry either, so I decided I want ten nice pieces instead of a bunch of costume, even though costume would be nice too. I am dazzled by diamonds (and sapphires!) and so I want to focus a collection on them.

I only am to about the first in my collection (lol) so I started in the right place; under 50, can afford within reason.

Nice earrings
nice tennis bracelet (or three)
A few designer and super ideal cut diamond rings

Etc

Why not?

One year, Dh and I went through 3 cars... lost a lot of money doing that. Never to be seen again...

At least once I purchase a diamond, I can still look at it.
 
Thanks for all the perspectives. Do you have multiple erings? Of those who do, do you interchange them often?
 
diamondlove123 said:
While I love the idea of a larger round solitaire, part of me wonders if I am making a sound choice with money.
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Here's the thing: you can't take it with you when you die. If you've got money saved up for emergencies, retirement, can cover your regular expenses without financial strain, etc, it doesn't matter what you do with what's left over. If you want to take vacations, buy a bigger house or a fancier car, invest it, donate it, buy thousand dollar shoes, buy diamonds, etc, it's all good. If your needs now and in the future are being covered, the rest is for you to do whatever makes you happy. And if diamonds make you happy? Go for it. I would never counsel someone who doesn't have the basics totally covered to spend on luxury goods (I think even an expensive engagement ring is unnecessary in those circumstances).

I only buy things once I have saved up all the money out of my free-spending funds - I never put any bling purchases on credit or borrow from elsewhere in the budget to put into bling spending (or other free spending!). I think when you do that is when you can get into trouble and need the jewelry to be an investment instead of something you bought because you like it. I alway see people selling online because they need to pay for this or that emergency that came up and, just, if you don't have money for that, unless a whole lot of things happened at once and you lost your job or whatever, you probably shouldn't be buying other stuff with that money and should be putting it into an emergency fund instead. If I sell my jewelry it is because I no longer wear it and want to turn around that money into new jewelry I do wear, not because I need to sell it. I think that's a pretty key difference that tells you whether it's reasonable to spend the money or not. If you needed $5k tomorrow for a health or car or house emergency, do you already have it or would you have to sell something? If you lost your job and it takes you three months to find a new one, are you okay or do you have to sell something to make ends meet? If you'd have to sell your possessions in those circumstances that's a good indicator you should save up more money until you wouldn't. But if you've already got a cushion, a retirement plan, etc, then go for it.
 
^^^^ that.
 
I have a small personal collection of round brilliants (6) all over one carat, non are mounted, I don't wear jewlery, I really don't have any interest in jewelry, they're all just stored in the parcel paper they came in. I think I'm VERY selective, when I see something that looks like a great deal in my price range I buy it. I'm not basing my retirement on it, I know I probably would not be able to recover my cost of the stones but I really don't care. It seems like prices are down a little, I hope to buy one or two a year if I see something that piques my interest. If I don't, then I won't.
 
diamondlove123 said:
Thanks for all the perspectives. Do you have multiple erings? Of those who do, do you interchange them often?
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Yes, I rotate several different rings as my ering for a little variety. I do consider my OEC my main ering though and wear that one the most.
 
I do not consider my jewelry to be an investment. I do love it though and enjoy wearing it. I try to buy things that I really love and will wear, so that I feel I got my moneys worth. Only you can decide what fits in your budget for "fun" purchases. I feel like it is no different than people who collect other expensive items (i.e watches, designer bags/shoes), if it makes you happy and you will wear it, as long as you can afford it then go for it.

I will confess that the forum is a bit of an addiction. The more that I see the more that I want!:drool:
 
Now I don't feel so alone in wanting another ering. This purchase would not hinder other types of expenses and all neccessary things in life are covered. It's just that I don't typically buy things in the tens of thousands of dollars and I am not into cars, boats or anything. But this purchase would be in the tens of thousands since I want a big stone (3+ carats) that would be considered luxury and my downfall is big diamonds so I am just having a hard time justifying--- it's mainly my logic fighting with my wants. Please share with me what multiple rings you have bought.
 
diamondlove123 said:
Thanks for all the perspectives. Do you have multiple erings? Of those who do, do you interchange them often?
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I like colored stones rather than diamonds, so I don't have multiple diamond rings, but I wear my main one half of the time or so (it is, after all, my favorite!) and then wear others depending on my mood, outfit, what I grabbed first, social event (I have smaller less blingy rings I wear if I'm trying to be unobtrusive, and then my big pink ring is even more eye-catching than my engagement ring), what color gold I'm wearing elsewhere (I don't need to match but sometimes it's nice to be wearing all yellow metals, or whatever), etc. I can't imagine only having one ring - I like variety!

Most of my rings were under $1k, I think the only ones over that (so far! since I decided to start saving up more for bigger projects rather than doing many small ones) are my engagement ring and hot pink spinel ring:

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I have a 1.52 asscher that CVB ID is going to set soon. To that, I plan to add a +/- 2.25 MRB super ideal cut....
 
I'm the diamond nutter in my marriage. I'm happy to buy them for my wife even though she has told me that she doesn't need anymore. But she now has a modest collection spanning rings, pendants and earrings.
 
At this point I am still a one e-ring rules girl. I just have trouble spending that much on anything I don't use regularly. So I don't want another ering. What I would like is to keep upgrading, and maybe changing shapes and settings as I get bored of the old ones. I just don't like the idea of any ring sitting in a box. The only reason I haven't sold my Tiffany halo is b/c my DH would be hurt and my DD would throw a fit. She's very sentimental. I never wear it. I already wear 2.3 ctw studs and don't want to go larger. I have a tennis bracelet that I wear seasonally. But I discovered that I seldom wear a RHR. I have a little AVR for a pendant that I also never take off. So I've basically run out a appendages to decorate. I should be done... :lol-2: but I'm not...
 
LLJsmom said:
At this point I am still a one e-ring rules girl. I just have trouble spending that much on anything I don't use regularly. So I don't want another ering. What I would like is to keep upgrading, and maybe changing shapes and settings as I get bored of the old ones. I just don't like the idea of any ring sitting in a box. The only reason I haven't sold my Tiffany halo is b/c my DH would be hurt and my DD would throw a fit. She's very sentimental. I never wear it. I already wear 2.3 ctw studs and don't want to go larger. I have a tennis bracelet that I wear seasonally. But I discovered that I seldom wear a RHR. I have a little AVR for a pendant that I also never take off. So I've basically run out a appendages to decorate. I should be done... :lol-2: but I'm not...
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Haha but you have ten whole fingers!! I want my next diamond project to be a swank colored diamond pinky ring. And I want an eternity ring for my pointer finger because I'll be able to see more sides of it more often than I would on my ring finger.
 
My DH is not into cars/boats or 'things' in general, but he loves to travel, and is happy to spend the equivalent of a 3ct diamond a year on it, me, I just go along for the ride :lol:

He has spreadsheets of our projected income and expenditure until he's 91! It's a hobby for him :eek:
 
junebug17 said:
I guess I've purchased several diamond rings just for the enjoyment they give me. I actually don't wear much jewelry but I just like glancing down and seeing a pretty sparkly on my hand. I get a little bored wearing the same ring all the time so I enjoy the variety of having a few different rings to wear. Eventually my kids will get them, and they can do what they'd like with them. I didn't really purchase them for investment purposes and I know I won't get back what I paid for them. But the same holds true for other things, like cars lol! It's an expensive hobby and I do struggle with that, so I'm probably done with big purchases at this point. But I do wear and enjoy what I have.

I do understand where you're coming from. That said, if you do decide to get another ring…post pics!:D
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Exactly this...well said, as always Junebug
 
I understand where you're coming from diamondlove123, spending a large sum of money on jewelry can be daunting…I purchased my most expensive ring first, my 1.96 OEC. I came down with DSS and considered upgrading, but I decided to give a halo a try and it took away the desire for a larger diamond (thank goodness haha). My subsequent rings were not nearly as expensive individually and I purchased them over the course of several years for variety and because I had a hankering for something new lol…so our situations are a bit different.

There are quite a few members who own 2 or more large diamond rings, so hopefully they will chime in and add their insight. Their situations are closer to yours. But I guess the bottom line is we all have a comfort level as to how much we are willing to spend on bling, and how much bling we want lol. I honestly don't see anything wrong with buying another large diamond ring if it will bring you a lot of joy and is affordable for you! But I guess it really is a decision only you can make.

A few more random thoughts…I think you mentioned in another thread that you have a 2+ carat diamond set in a halo. (sorry if I'm wrong!) I'm thinking you'll have to go up quite a bit in size with the new stone and another round might look similar to what you already have. Have you considered another shape? I daydream sometimes, and I think if I was going to get another large diamond ring I'd get an oval. Such a graceful and beautiful look on the hand, and great finger coverage.

Oh, and unlike your friends we totally get it, so you're in a safe place ha!

eta - thanks yenny - I dunno, I have a tendency to ramble, this post is a good example :oops:
 
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I'm pretty much with junebug and all who said it's a hobby and a luxury. It's for extra money after all the necessary saving is done and one is mostly debt free except maybe a mortgage. I was married a long time before my upgrades started. Last child has one more year of college and my husband is about to retire a few years early. We saved and now can spend money on pleasures. Obviously jewelry is mine!

I have the AVR ring and an antique asscher ring. Both are over 2 cts and I sincerely do not need another, but I still kind of want an AVC. I am trying to resist, though! I wear the same basic pieces on a daily basis and only wear the asscher ring and extra jewelry on special occasions. I have a few right hand rings but rarely wear them! I have 2 daughters and two little granddaughters, so I am saving my best things for them and have gotten rid of other things I don't care about over the years. I kind of want to transition over to buying my daughters some nice classic pieces they can wear in the near future like studs and pendant.

I should add that I never show local friends my new jewelry and I am usually wear my basic pieces around them. Same with family except I do have one sister who seems interested in seeing my new things!
 
@diamondseeker2006 this is irrelevant to the thread but what happened to your beaudry asscher ring?
 
Junebug, thank you for a thoughtful reply. I actually have considered other shapes... I tried on the oval but it did not look good on my short fingers. I actually also have an EC as well (again, very embarrassing to admit I have a bling addiction and does not help that this site is full of people with bling passion). And my husband and mom and everyone around me do feel that another round would be similar to my round in a halo I already have but I just love round. I think it is the best shape for light performance and also fits my finger. Lots of dilemma. But someone mentioned today that the gia report on the K color looks odd and now i need to look into this. The reason I was drawn to the K was at 9.8mm, it would give me that max coverage for a round I am looking for but I want to make sure that I am going for the best cut within budget and color.... I think I'll have to se once I have it in my possession. The showroom it's hard to determine true color.
 
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