Reply to how much was your engagement ring?

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[quote=Anonymous][quote=Anonymous]$14,000.  He paid cash.

We both owned houses, so I think the "should have been used as a down payment" argument is the stupidest thing I've ever heard.  What would we have done with a third? Stop with the stupid assumptions.[/quote]

I'm a PP who already had a house (and so did she) and honestly, I think the money for an expensive ring is sort of stupid.  Even if you don't need a down payment, the depreciation on a new ring is instant and very very hefty.  Diamonds are not scarce; the appraisals are for "replacement cost" - ie, what you would have to pay to get a new one in the artificial market.  I bought my used diamond (already in a setting which I tossed) for 40% of what the same diamond alone new would have cost - from a divorced woman on CL.

These things are worth only the display and sentimental value - ostentatious, conspicuous consumption; they are in no way any kind of "investment".  Anyone who still believes in their "value" should try to sell one in the secondary market.  Pure marketing garbage.[/quote]

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