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Old 05-07-2012, 10:55 AM
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There are people sympathetic to diamond miners working conditions in other countries. Apparently bad publicity for the mining companies are in question and I know someone who has decided to dump her diamonds after seeing a documentary or something on the topic

If soccer moms want to remove themselves from existing diamonds to protest working conditions how will selling your ice now help? Perhaps not buying diamonds will force the issue but if you already have stones why feel guilty?

I told her I would ask the question,
Where would you guys go to get a fair price for diamonds?

If any of you think we will find diamonds tossed off bridges in the Chicago land rivers know the activists won't leave us any chance of finding them, she is separating the stones from the precious metals and donating the money. I think others will follow similar patterns.

So whats up with the diamond mines, I want more information.

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Old 05-07-2012, 11:18 AM
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Google Blood Diamonds and you'll find all the info you ever wanted.
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Old 05-07-2012, 11:27 AM
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Google Blood Diamonds and you'll find all the info you ever wanted.
thanks the movie looks good!
http://www.youtube.com/watch?v=XtPX2kXhu7I

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Old 05-07-2012, 11:29 AM
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I've heard about the blood Diamonds, but not all Diamonds have that history. On an other note she might want to read about slave labor in foreign countries. She would probable have nothing left. I hate the cruel ways people do to other people...

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Old 05-07-2012, 12:10 PM
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The term is what I was referring to. I'm not exactly sure how accurate the movie is. But just as was stated slave labor is very prevalent in production of any kind of goods. It's good people are becoming more vigilant but unless you're totally self sufficient chances are you have something in your home or on your person that is somehow affected by slave labor.
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Old 05-07-2012, 02:22 PM
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Blood diamonds, yes... got it, but do just basic research on diamonds in general.

The actual stone is practically worthless, but the conglomerate that regulates diamonds in the market holds the release of diamonds. Keeping supply low and demand high makes for a multi billion dollar industry. There are companies (I can't name them) that are supposedly responsible for these diamonds being vaulted. keeping prices higher than they should.

It's incredible to think the diamond is one of the most common stones found over seas, yet you'd think they were something rare.
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Old 05-07-2012, 02:24 PM
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Quote:
Originally Posted by kybluegrass View Post
The term is what I was referring to. I'm not exactly sure how accurate the movie is. But just as was stated slave labor is very prevalent in production of any kind of goods. It's good people are becoming more vigilant but unless you're totally self sufficient chances are you have something in your home or on your person that is somehow affected by slave labor.
The movie is based on true events, actual companies, and real events that occurred. Sierra Leone is still under rebel assaults, politically and involving blood diamonds. As you'll see in the movie the name of the company used very closely resembles the real life company that is responsible for the diamond market/industry.
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Old 05-07-2012, 03:33 PM
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If those scoccer moms really wanted to protest unfair labor laws they should go barefoot and naked.
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Old 05-07-2012, 10:23 PM
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No one has yet answered your original question....so here goes....

First you can't prove a diamond is a blood diamond or not without a large number of very sofisticated tests...Like you gonna spend a pile of money!

As to where to get a good price??? Good luck. Jewelry mark up is so high...did she pay 20K for it or it appraised at 20K??? Either way she should have a grading certificate for it.....that paper has value as to determining the secondary market value....I would figure most reputable jewelry stores would make her an offer after seeing the stone and certificate. But its gonna be a whole sale offer cause they can buy any grade diamond from wholesalers...any grade and any size. Figure 10 cents on the dollar. Sorry to have to tell you that...if the appraisal is for insurance purposes, it is inflated to take into account the type of mount and the trouble involved with finding that exact grade stone at that exact size.

Perhaps her best option is to take it to a very well known jeweler who is known to deal in estate jewelry. He can give her a fair appraisal of what it would sell for and what his percentage would be for selling it. She might recover 35 to 50% of the original investment that way.

The diamond market is set up for every woman to keep every piece of diamond jewelry she ever owned, and to pass it down as "wealth" within the family, not to remarket it.

Best of luck.

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Old 05-08-2012, 09:21 AM
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Interesting replies... I will forward bits and pieces of your comments with the exception of the one who suggests she run barefoot and naked Although this would be a better thing to do then discard beautiful diamonds and certainly would draw a potential crowd for the protest. What we need is to convince the troubled young ladies to toss the whole piece of jewlery in the lake

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Old 05-08-2012, 09:37 AM
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Unless you are talking about one of the largest and most famous types like the Hope diamond, or the kinds that Elizabeth Taylor owned, diamonds seem to be a poor investment.
Initial cost is high, resale value is low, loose diamonds are the worst of all.
A game...and prices have been manipulated by large companies like De Beers for a very long time.

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Old 05-08-2012, 10:21 AM
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"Diamonds....

That'll shut her up!



For a minute."

Ron White

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Old 05-08-2012, 10:26 AM
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I concur with KT. Here is an example of the mark up on diamonds. Years ago I got engaged, and purchased a platinum diamond ring for 5k. It was appraised for 7k and had a certificate of grading and value.This was a very reputable jeweler. The engagement went south ,and I wanted to return the ring to the same jeweler. They offered me $2,500.00. So yes, I would say the return or wholesale value is around 50% of the sale value,not appraised value. I sold it privately for $3k...and oh yes, I am a very happy single man to this day!

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Old 05-08-2012, 10:39 AM
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"diamonds . . . . she'll practically have to.."

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Old 05-08-2012, 02:06 PM
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Quote:
Originally Posted by TexasPinpointer View Post
I concur with KT. Here is an example of the mark up on diamonds. Years ago I got engaged, and purchased a platinum diamond ring for 5k. It was appraised for 7k and had a certificate of grading and value.This was a very reputable jeweler. The engagement went south ,and I wanted to return the ring to the same jeweler. They offered me $2,500.00. So yes, I would say the return or wholesale value is around 50% of the sale value,not appraised value. I sold it privately for $3k...and oh yes, I am a very happy single man to this day!
That's right! Appraised value is really the insurance replacement value. What it would cost the insurance company to buy you a replacement in case of loss.

The markup on diamonds is so high that many jewelers don't want them back.

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Old 05-10-2012, 03:43 PM
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KT has one final note....38 years ago when He bought the Queen her engagement ring and set...it contains a half carat stone, and a keeper ring, He was told if I ever wanted his money back bring it in...then there was a run by small investors to buy small diamonds and at a coin show, my wife was offered 1000 dollars for the center stone...naturally we did not take it...but that jewelry store is still in existence and still offers the return policy....over that 38 years the stones and gold are now worth about 750 bucks, so if we turned it back in, who would be rippin off who....same old story..jeweler comes out ahead! If the Queen passes before I do, she will not be wearing it however because she quit wearing it 30 years ago claiming she hung it on everything ....being an artist by trade KT accepted that reason. It will pass on to Prince John for his bride if He ever takes one. Just as my mothers engagement set was passed on to the first grandson of the family....who by choice is a Bachelor! HA HA HA

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