Would you invest in purchasing diamonds for your sons?

amother

Seagreen

Thu, May 14 2015, 4:30 pm

Somebody suggested to my husband that he should buy diamonds for my boys now and when they get older we can iy"h give it to their kallah's. And he holds it's a form of investment. Did anyone ever hear of people doing this? My kids are still young and not going to be starting to date for a while.

imasinger

Thu, May 14 2015, 4:34 pm

I never heard of this.

What if their brides preferred a different cut?

How about speaking with long term investment consultants?

OOTBubby

Thu, May 14 2015, 4:47 pm

imasinger wrote:

I never heard of this.

What if their brides preferred a different cut?

How about speaking with long term investment consultants?

Not everyone gives the kallah a choice. Some are presented with a ring and that's it.

Personally, I gave our kallahs full choice; stone shape, setting type, etc.

amother

Navy

Thu, May 14 2015, 4:49 pm

My FIL bought a diamond in advance for his last son. It's a nice idea, you don't have to pay out all expenses at once. But what is the investment?

amother

Floralwhite

Thu, May 14 2015, 5:02 pm

My mil got a good deal on a set of a few diamonds that equaled the amount she and someone else would need, so they bought it together.

amother

Vermilion

Thu, May 14 2015, 5:09 pm

I got a two carrot beautiful D stone for $2500. A friend was going to sell to a store for cash. I couldn't have done better. I am going to give it to my future dil. Meanwhile I have another stone.

amother

Plum

Thu, May 14 2015, 5:22 pm

amother wrote:

I got a two carrot beautiful D stone for $2500. A friend was going to sell to a store for cash. I couldn't have done better. I am going to give it to my future dil. Meanwhile I have another stone.

I've never seen a carrot diamond before LOL

sorry couldn't resist (it's carat btw)

amother

Emerald

Thu, May 14 2015, 5:47 pm

amother wrote:

I got a two carrot beautiful D stone for $2500. A friend was going to sell to a store for cash. I couldn't have done better. I am going to give it to my future dil. Meanwhile I have another stone.

That's quite the bargain. My 2-carat stone isn't a D color, and it was appraised at $25,000 20 years ago. A 2-carat, VVs1, D color diamond retails for 10 to 20 times what you paid these days.

amother

Seagreen

Thu, May 14 2015, 5:49 pm

amother wrote:

I got a two carrot beautiful D stone for $2500. A friend was going to sell to a store for cash. I couldn't have done better. I am going to give it to my future dil. Meanwhile I have another stone.

How many years ago was this?

amother

Vermilion

Thu, May 14 2015, 5:51 pm

amother wrote:

That's quite the bargain. My 2-carat stone isn't a D color, and it was appraised at $25,000 20 years ago. A 2-carat, VVs1, D color diamond retails for 10 to 20 times what you paid these days.

I know it is a great price. My friend was selling it to a jeweler and I told her to sell it at the jewelry exchange. She couldn't be bothered so I bought it for what the jeweler would have paid plus there is gold.

amother

Sienna

Thu, May 14 2015, 6:00 pm

A bit off topic, but my Dad bought a gold watch for my chasan, before I started high school. That took a bit of the pressure off my Dad when faced with wedding expenses years later. So I think if you're able to, it's a good idea especially if you're not rolling in dough.

tichellady

Thu, May 14 2015, 6:05 pm

I think there are better ways to invest. Plus he may want to buy her a ring with his own money or she may not even want a diamond ring ( like me).

amother

Puce

Thu, May 14 2015, 6:06 pm

My ILs did this. They have 2 sons, so MIL bought a pair of diamond stud earrings. The studs are a carat, and she enjoyed the earrings until her sons came of age. Both me and BILs wife got one earring (set in the setting of our choice) upon our respective engagements. I think it was a nice idea and may do the same, but I already have more boys than one pair of earrings will accommodate Smile

miri15

Thu, May 14 2015, 6:42 pm

I would think so because while the value may fluctuate they will always have a significant value.

chicco

Thu, May 14 2015, 8:36 pm

Why not just put the money in a bond or some other investment and then cash out when necessary? You don't have to worry about change in prices, change in style, etc. When the time comes use the money for whatever token your sons offer their brides. It seems very limiting to buy the specific diamond now.

miri15

Thu, May 14 2015, 8:38 pm

miri15 wrote:

I would think so because while the value may fluctuate they will always have a significant value.

...and Im"H so should your daughter-in-laws... Very Happy

Amarante

Thu, May 14 2015, 8:41 pm

Diamonds are not an "investment" as you would do far better to invest the sums in no load index fund with Vanguard or Fidelity. Also perhaps when the time comes, the money would be better spent on a down payment or education. You can also set up educational funds for your sons which have good tax benefits - provided that you think you will be using money for their education down the road.

amother

Vermilion

Thu, May 14 2015, 11:56 pm

amother wrote:

How many years ago was this?

This year.

aquad

Fri, May 15 2015, 12:11 am

As an investment, it's a bad idea: http://www.theatlantic.com/int.....5376/

On the other hand, if you know how many diamonds you will need for future DIL's, and you can get a better deal from a diamond seller by buying 2 or more at once, instead of 1 at a time, then it's a good idea.