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Why diamonds are not an investor's best friend
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Diamonds also have a portable wealth value, as it can be used to show the owner’s social status. (Shutterstock/File)
M
arilyn Monroe’s popular song Diamonds Are a Girl’s Best Friend from the 1953 movie Gentlemen Prefer Blondes leads women to think highly of the gemstone.
Despite its popularity, Gemological Institute of America diamond expert Devi Cahyadi said investing in diamonds is not a good idea.
Devi said, as reported by Kompas.com, that the diamond price is relatively stable, making it a less valuable asset when compared to gold.
She added that the gemstone’s steady price made it a low value and low-risk investment.
Although investing in diamonds was not recommended, Devi mentioned that the gemstone had a heritage value that could be passed from generation to generation.
Read also: In US, diamonds are a millennial's best friend
“[Most people] choose diamonds to [celebrate birthdays], weddings or engagements, hence, there is [a treasured] memory,” said Devi.
Additionally, diamonds also have a portable wealth value, as it can be used to show the owner’s social status.
Those wanting to purchase diamonds are suggested to learn about the 4Cs classification: cut clarity, carat and color. She also suggested checking the market price prior to purchasing the gemstone.
Devi warned that there are man-made diamonds that look similar to real diamonds. She recommended buyers to get diamonds from trusted sellers with valid certificates. (jes/asw)
