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Mehki Becton buys 400K necklace

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3 hours ago, IndianaJet said:

Players don’t lose all their money because they buy jewelry.  Gold and diamonds will always hold high value. 
 

They lose their money because they give it all away to their friends and get scammed into investing big money into bad business ventures.  
 

Let the kid enjoy his cash a little. 

If he paid $400k, he can probably sell it for $150k.

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6 hours ago, bitonti said:

For those that say diamonds hold value, check out the used engagement ring market. Diamonds have no actual value. Blame debeers

Sent from my Pixel 2 using JetNation.com mobile app
 

Insurance Value and Retail Value have no correlation to Actual Value, which unless you are doing a private party sale is Scrap Value, plus a little bit if the setting is nice/interesting.

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47 minutes ago, jetstream23 said:

I absolutely agree with all of this.  It's not what I would do, then again I'm not a 21 year old who was just handed several million dollars.  If I was I likely would have splurged on something big too.

In fact, related to #4, I bought the GLD (gold ETF) in the market a few months ago.  I just don't wear it around my neck but it's completely true that a new car would decrease in value much quicker than precious metals.  So I got something in common with the Big Ticket....

excited seinfeld GIF

 

There is no comparison between buying & selling paper gold and buying & selling gold jewelry.  

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17 hours ago, jetstream23 said:

Correct, at least in relation to the intended purpose of such a purpose.  And certainly not when you stamp the chain with something like "Big Ticket," but my point was a simple one.  Let's not criticize him for buying something like that when an automobile or many other things would depreciate pretty damn quickly.  I had a friend who sold a small business in 2016, he used about 10% of the proceeds on a weekend long party in Las Vegas for 100 of his friends and family, all expenses paid.  It was his money so to each his own, but I'd call that more frivolous than what Mekhi did.

Jewelry probably depreciates more than cars when you leave the store.  % of value retained if you trade in a Lambo the day after you bought it is probably higher than a piece of jewelry, which probably gets you scrap value.

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On 9/1/2020 at 6:37 PM, jetstream23 said:

You might be surprised.  The economy went through a period years ago where copper prices were escalating so high that thieves were stealing piping from inside walls and other places.

I can't tell you the direction of spot gold prices in the coming days, but I can almost guarantee that a non-collectible automobile will lose value the second it drives off the lot.

I wouldnt be surprised.  Cars drop like 30%, that is why they sell gap insurance.  Jewelry probably drops 50% or more, depending on how big a fool the purchaser is.

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