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Posted on 4/12/11 at 8:51 pm to C
What's Mashburn got going on?
Posted on 4/12/11 at 8:52 pm to arwicklu
quote:
a diamond encrusted 88 probably drops a wee bit quicker.
Diamonds aren't a car... They don't drop in value like that
He would never get what he payed for it because some would be lost in the crafting of the custom piece, but the diamonds themselves are worth exactly what they were when he bought them
Posted on 4/12/11 at 9:46 pm to KBeezy
quote:
Diamonds aren't a car... They don't drop in value like that
It is custom jewelry. You're not paying for the price of the diamond. You're paying way above value for the guy to make you a custom piece of jewelry that is meaningless to anyone else. The actual cost of the raw materials are nowhere near the price of the piece. I think we agree on that.
Beyond that the materials alone are going to be up-charged by the dealer. It is like buying a diamond ring in a mall jewelry store. You generally pay about 5 times what the raw materials are worth because you're paying for the store, salesperson, etc. If the custom jeweler has a store or employees, then he's got to build cost into the price.
I have no idea what his actual jewels are worth but I tend to doubt he has almost a million dollars worth of diamonds. I bet the markup due to the custom work and diamond up-charge is more than the 20% you lose when you drive a car off the lot.
That being said I'm sure he has multiple cars and the whole conversation is irrelevant.
I'm not trying to be a know-it-all, actually if you have insight into the mark-up on that type of jewelry (or anyone else does) I'd be curious. It is amazing to me that these guys all blow their money in the same way.
Posted on 4/12/11 at 10:09 pm to arwicklu
I've heard markup on jewelry starts around 300%.
Posted on 4/12/11 at 11:21 pm to tduecen
They have no financial sense or discipline, hence they want more money. Like the current US govt, don't change anything just issue more dollars. I'm not on the owners side of the debate either. I think 18 games is ridiculous.
Posted on 4/12/11 at 11:31 pm to Trender
quote:
Posted by Message
Trender
NFL Players taking out high interest loans?
They have no financial sense or discipline, hence they want more money. Like the current US govt, don't change anything just issue more dollars. I'm not on the owners side of the debate either. I think 18 games is ridiculous.
I don't think we need 18 games, however I consider the players employees and not partners. If the owners need to cut budget, then employees don't normally get to say show me your books. I think the rookie wages is one of the biggest areas of problem. Some of these guys never play a meaningful snap and make 40 million. Its amazing.
Posted on 4/13/11 at 7:16 am to arwicklu
i really don't understand how guys can be running to predatory lenders at this this point since they haven't missed any game checks?
FreakonomicsRadio did a pretty interesting podcast back in February on the lockout economics where they talked to D Smith, the Packers President, and Brandon Jackson about the economics involved from all of their perspectives. The portion w/ Brandon Jennings was very telling. He didn't come across as a guy that was throwing around his money on diamond medallions on anything, but he matter of factly talked about the impact of missing his salary would be.
FreakonomicsRadio did a pretty interesting podcast back in February on the lockout economics where they talked to D Smith, the Packers President, and Brandon Jackson about the economics involved from all of their perspectives. The portion w/ Brandon Jennings was very telling. He didn't come across as a guy that was throwing around his money on diamond medallions on anything, but he matter of factly talked about the impact of missing his salary would be.
Posted on 4/13/11 at 7:38 am to arwicklu
quote:
however I consider the players employees and not partners.
Who cares what you consider them?
quote:
If the owners need to cut budget, then employees don't normally get to say show me your books.
Posted on 4/13/11 at 7:39 am to TreyAnastasio
quote:
What's Mashburn got going on?
He owns 30+ Outbacks Steakhouses and about the same ammount of Papa Johns. Plus some dealerships and other stuff. Dudes rollin.
Posted on 4/13/11 at 7:40 am to tduecen
I don't know why anyone is surprised by this. Football players are not known for being the brightest people, and many of them have no concept of money or personal responsibility.
And they have to keep their entourage taken care of so they are not accused of "selling out"
And they have to keep their entourage taken care of so they are not accused of "selling out"
Posted on 4/13/11 at 7:55 am to arwicklu
Yeah I knew the custom piece was gonna cost something, but there is a reason that diamonds and gemstones are investment strategies for people. And I would assume because:
And
Also
LINK
quote:
Diamonds are widely considered to be a virtually recession proof investment. Diamonds are one of the few investments that never lose value. A high quality diamond will increase in value over the years.
And
quote:
Diamonds make a smart investment because their value continues to increase the regardless of the economy. They are not regulated by the banking system so they are protected from bankruptcies or changes in the overall market. They are traded around the world and are not dependent on any single economy. If one market begins to crash there are others around the world whose demand for diamonds will be unaffected. Diamonds are not taxed beyond their initial purchase, unlike property, and they do not require any additional maintenance after they have been purchased. There is no age limit or special requirements to purchasing a diamond and since they last a lifetime they can be passed down through the generations.
Also
quote:
diamond is one of the few investments that not only increases in value but can be worn and displayed. Perhaps the best thing about diamonds is that wearing them or having them set in a piece of jewelry does not negatively affect their value. They can be worn and cleaned and polished repeatedly over a lifetime and still be worth more than what you paid for them originally. Like any investment, expensive diamonds should be insured against loss in order to get the most out of these beautiful investments.
LINK
Posted on 4/13/11 at 8:07 am to DelU249
quote:
bryant spent 25% of the money he has made on jewelry?
.wow
that's 30% of his GROSS income, not net income
You have to figure with taxes, agent and rep fees, he took home at best 50% of that $2.8 million.
So he actually cleared about $1.4 million and dropped 61% of that on jewelery
Posted on 4/13/11 at 8:10 am to KBeezy
fwiw, i never trust diamond value b/c they really aren't worth that much in the actual supply of the commodity
russia basically controls what your diamonds are worth, b/c they are sitting on thousands of tons of diamonds in storage that are kept there only to create scarcity in the market. if they start opening up those reserves, diamonds end up losing most of their value
russia basically controls what your diamonds are worth, b/c they are sitting on thousands of tons of diamonds in storage that are kept there only to create scarcity in the market. if they start opening up those reserves, diamonds end up losing most of their value
Posted on 4/13/11 at 9:48 am to Draconian Sanctions
quote:
Who cares what you consider them?
They don't own any of the business so the law would dictate that they are not partners.
Posted on 4/13/11 at 9:55 am to KBeezy
quote:
KBeezy
Wow an article written by a JEWELRY designer on a cheap ezine website, tons of credibility there. Diamonds aren't that great of an investment. Yes they do go down with recessesions. You can get diamonds WAY cheaper now than you could in 2005-2006.
The cost of Custom jewelry is maybe 50-60% the actual material.
This post was edited on 4/13/11 at 9:56 am
Posted on 4/13/11 at 11:33 am to barry
I wanna know if it is Bush
Posted on 4/13/11 at 12:54 pm to tduecen
Anybody know how to get in on that action? I'd love to loan those dumb frickers money.
Posted on 4/13/11 at 2:39 pm to SPEEDY
didn't think about that...great point...this guy will be destitute in no time
Posted on 4/13/11 at 2:53 pm to yellowfin
quote:
Anybody know how to get in on that action? I'd love to loan those dumb frickers money.
At the rate they claim bankruptcy? no way.
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