The real myth is that diamonds are extremely overvalued and a poor \”investment\”. Anyone who does a bit of research can bust this myth: Go to a reputable jeweler and ask the specs of a $5000 US (purchase price) stone of each: diamond, ruby, sapphire, emerald, and topaz. Next, ask the jeweler what they would pay you for these same stones should you be offering them for sale to the jeweler. You would be lucky to get $1000 for the diamond. The others ? Check it out and see why diamonds are one of the biggest ripoffs ever. Truly rare and valuable gems appreciate in value. Diamonds depreciate the moment you purchase them (like a piece of crap automobile).
I\’m sorry but, this was a National news story! It reads more like ad copy from Allstate\’s marketing department. Must have been a slow news day for the Insurance Journal.
About value…
There is a big difference between retail (completive replacement cost) and fair market value. It has more to do about liquidity than markup. Jewelry fair market value is a fire sale. If you are in no hurry you could recoup 75-90% assuming you made a smart, knowledgeable purpose.
BTW have you looked at the price of precious metals recently â€â€Ŕ almost has doubled in past 2 years.
Actually, it was posted to our employee intranet page this morning. I was suprised to see it here. It\’s the kind of fluff piece they feed us. Definitely not a real article.
I must admit that the readership for Insurance Journal is really discerning. This was also posted on our intranet and we all wondered how much real news is published. I enjoy the comments more than the articles!
Kind of made it look like Allstate was the first to come out with this info – if you\’re a licensed agent and know what you\’re doing, then you\’re already telling your clients to add this type of property to their policy. If this is news to you, please choose another profession. :)
Unfortunately most people only think of covering jewelry using valuable articles policies and many don\’t because of the costs. Outside of furs, other personal property mentioned in the article is very affordable to insure using valuable article policies. Too bad many agents would rather back up to the mail box or play golf than take the time to meet with the client at the insured home and discuss these important coverage options!
Diamonds are forever is a trademark slogan… can you use this?
\”Diamonds Are Forever\” is actually the title of a James Bond book published in 1956. You cannot copyright a title.
\”A diamond is forever\” is aq registed trade mark of the Diamond Promotion Service (De Beers)
The diamond still exists based on the scenarios provided by allstate. It\’s just the owner\’s possession of it that doesn\’t last forever.
The real myth is that diamonds are extremely overvalued and a poor \”investment\”. Anyone who does a bit of research can bust this myth: Go to a reputable jeweler and ask the specs of a $5000 US (purchase price) stone of each: diamond, ruby, sapphire, emerald, and topaz. Next, ask the jeweler what they would pay you for these same stones should you be offering them for sale to the jeweler. You would be lucky to get $1000 for the diamond. The others ? Check it out and see why diamonds are one of the biggest ripoffs ever. Truly rare and valuable gems appreciate in value. Diamonds depreciate the moment you purchase them (like a piece of crap automobile).
I\’m sorry but, this was a National news story! It reads more like ad copy from Allstate\’s marketing department. Must have been a slow news day for the Insurance Journal.
I just forwarded this article to my fiancee. Maybe this will get me out of buying some grossly, over-priced ring.
About value…
There is a big difference between retail (completive replacement cost) and fair market value. It has more to do about liquidity than markup. Jewelry fair market value is a fire sale. If you are in no hurry you could recoup 75-90% assuming you made a smart, knowledgeable purpose.
BTW have you looked at the price of precious metals recently â€â€Ŕ almost has doubled in past 2 years.
Actually, it was posted to our employee intranet page this morning. I was suprised to see it here. It\’s the kind of fluff piece they feed us. Definitely not a real article.
I must admit that the readership for Insurance Journal is really discerning. This was also posted on our intranet and we all wondered how much real news is published. I enjoy the comments more than the articles!
Kind of made it look like Allstate was the first to come out with this info – if you\’re a licensed agent and know what you\’re doing, then you\’re already telling your clients to add this type of property to their policy. If this is news to you, please choose another profession. :)
Unfortunately most people only think of covering jewelry using valuable articles policies and many don\’t because of the costs. Outside of furs, other personal property mentioned in the article is very affordable to insure using valuable article policies. Too bad many agents would rather back up to the mail box or play golf than take the time to meet with the client at the insured home and discuss these important coverage options!