re: How much did you spend or your engagement/wedding ring?

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kennypowers816

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Dang, first time I've ever encountered a post that just got deleted. Kind of cool

But more importantly, please don't think its an investment at all. It will not appreciate.

I had a friend that worked in the biz. He told me this is how it works...

You fall in love & pay $10k (retail) for a diamond
You break up & sell the rock quick for $3k (dump value)
Jewelry buyer sells the rock to a distributor for about $5k
Distributor sells the rock to a retailer for about $7k
Retailer sells it to the next chump for $10k

It's a vicious cycle and a huge scam made up by jewelry retailers...That being said, I paid about $5k for mine. Got a family setting (stone had fallen out though )

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If thats the case, should I start a "Diamond trade" website? Charge 5-10 percent plus cost of verifying diamond class.