Inflation

[brewer12345]

Its been a while since I have bought any jewelry for DW. I think the last piece I bought of any size was a breacelet (diamonds and sapphires set in white gold, nice piece) which cost me perhaps a shade over $2k. Dad is a jewelry dealer, so I get his cost on anything I want. We are coming up on 10 years in October, so I asked Dad if he had any rings along the lines of what DW was thinking of (gold band with a diamond in the middle and a smaller stone set on either side). He had a beautiful ring that was perfect, but I was quite surprised to find out how much prices had gone up: $4500. Retail would be roughly $7 to $10k.

 

[wabmester]

Gold has doubled in the last 10 years, so that sounds about right. Your price change translates to 8.5% annualized, so you'd be in trouble if you had to eat and live in diamond rings.

 

[brewer12345]

Gold has doubled in the last 10 years, so that sounds about right.   Your price change translates to 8.5% annualized, so you'd be in trouble if you had to eat and live in diamond rings. 

Yeah, you are right, but its somewhat amazing to see such a big jump all the same. Presumably the length of time between purchases makes it seem larger.

 

[haha]

Brewer, what you need is a wife ladder. That way, if you have say 5 of them , after a settling in period you could be buying these anniversary gifts every couple of years.

Decrease the sticker shock. 

Ha

 

[brewer12345]

Brewer, what you need is a wife ladder. That way, if you have say 5 of them , after a settling in period you could be buying these anniversary gifts every couple of years.

Decrease the sticker shock. 

Ha

Thanks, I am happy remaining Catholic. Not interested in radical Mormonism...

 

[wabmester]

Wife ladders? Wedding staples? Whatever happened to good old fashioned vibrators?

 

[cute fuzzy bunny]

So what did you do that required you to go to the jewelry option for salvation?

 

[brewer12345]

So what did you do that required you to go to the jewelry option for salvation?

Eh, at 10 years, it is expected. Plus since I get wholesale prices, its not exactly a bad investment.

 

[Gone4Good]

Eh, at 10 years, it is expected.  Plus since I get wholesale prices, its not exactly a bad investment.

Congrats on 10!

For our tenth we went to Venice & Florence. So for the price of some rocks and metal we both got a nice trip.

 

[Leonidas]

It's not all in the price of gold apparently. I have a 23 year old stainless Rolex that I took in a couple of years ago to get cleaned and adjusted. The original price was $750, the claim ticket showed current retail at $4,000.

 

[justin]

The gold in a ring like that is way under an ounce. I bought my big fat superdupersized gold wedding band 2.5 yrs ago (gold has doubled since then) and my wife's little tiny wedding band for under $200 total from an online source (1/2 of local retail). Workmanship costs can cause ring costs to vary greatly (obviously).

Maybe diamonds went up in price? That is undoubtedly the main cost in the ring you are talking about.

DW's engagement ring bought 3 yrs ago with almost 1 ct between the middle stone and 2 smaller stones on either side plus the gold ring and some custom work on it were only $1400 or so, most of which was at retail prices (after driving a hard bargain for all that non-reactive metal and crystallized carbon : ). Haven't been shopping lately though...

 

[Siv]

You mean jewelry shops have 100-150% markup??

 

[Leonidas]

You mean jewelry shops have 100-150% markup??

Worked at a jewelry store for about a year. It was a small operation and the bookeeper and I got to be good friends. She told me that everything sold was priced at least at double the store's cost. Some things, especially one of a kind items, were marked up as much as 400%.

 

[Siv]

no wonder my husband doesn't want to buy me another jewelry after 15K ring. I'm jealous at my mom who got many blings from dad.

 

[haha]

Have to hang around quite a while before you get the whole story from you folks. I don't remember anyone having the line item: “Spousal Bribes aka Jewelry aka Anniversary Trips” when we dealt with budgets in any of the many threads where we proved how frugal we all were.

What else will be revealed over time? Bentleys? Tummy tucks and wattle removal?

Ha

 

[brewer12345]

Maybe diamonds went up in price?  That is undoubtedly the main cost in the ring you are talking about. 

Definately it is the diamonds. I'd imagine that there might be a half-ounce of gold in the ring, if that. But the big stone is a carat and the two smaller ones are about 3/4 carat a piece. Color is H or I. VS 1 or 2.

I gave DW a ring about 7 or 8 years ago that has a beautiful Tanzanite with a couple of small, but nice diamonds. I didn't realize how fragile tanzanite is, because the damn thing has a bloody great crack through it. I can't imagine how much it would cost to replace that stone nowadays. Bought it for under $500 a carat (dad's price) back then.

 

[justin]

Have to hang around quite a while before you get the whole story from you folks. I don't remember anyone having the line item: “Spousal Bribes aka Jewelry aka Anniversary Trips” when we dealt with budgets in any of the many threads where we proved how frugal we all were.

Hey, I went out and got a summer job during college and cashed my first paycheck and used part of the proceeds to buy my wife's engagement ring (in cash). How's that for "frugal"?

 

[Nords]

So what did you do that required you to go to the jewelry option for salvation?

Oh, c'mon-- http://early-retirement.org/forums/index.php?topic=8195.0

 

[astromeria]

What else will be revealed over time? Bentleys? Tummy tucks and wattle removal?

I suspect this relates to the "languages of love." Some people don't feel loved unless they receive gifts (not necessarily expensive ones). http://www.fivelovelanguages.com/learn.html :

--Giving/receiving physical touch
--Giving/receiving acts of service
--Sharing quality time
--Giving/receiving words of affirmation
--Giving/receiving gifts

My husband and I took the test and we came out the same--we both value giving and receiving physical touch and acts of service, somewhat less so quality time, much less words of affirmation, and gifts not at all--we prefer to buy the things we want for ourselves.

My mother needs gifts to feel loved...she now has jewelry and 2(!) mink coats she doesn't wear. She LOVED getting gifts of clothing and jewelry, which made her feel adored and beautiful. With my father gone, the gift thing is a bit of a problem. I've been getting her season tix to symphony, but she doesn't want to go any more (she falls asleep halfway through). So now I get her facials--and go with her and get one too (had my first just before my daughter's wedding, and loved it).

I need acts of service to feel loved...DH makes me breakfast every morning, and I make him dinner. We both feel loved I plan dinner parties and do most of the work, but he does all of the cleanup except putting away the leftovers (it used to make me crazy that he'd load the dishwasher while the food sat out to fester--so I just deal with the food).

I remember a woman my brother was dating calling me in tears because he didn't give her a constant flow of little gifts--which even the husband she divorced did(!). But my brother doesn't value gifts as a giver or receiver (like me). Come to think of it, he got pretty irritated after a while that she rarely cooked for him (an act of service he loves to give and receive, but she didn't--preferred eating out, which of course my brother always had to pay for despite the fact that she had 4 times his wealth and was FIREd and bro is still working hard at his own business (she was also irritated that he wouldn;t take lots of days off to spend weekday time with her). GOod thiing they broke up, though she was really upset about it.

Hmmm...my SIL got a tummy tuck and eye "perking" for her 50th birthday. I got semi-retirement for my 52nd and full retirement for my 55th

 

[shiny]

I am not into jewelry, I barely wear what I have.

DH and I looked at some nice rings around our 10th, but it is precisely because it is "expected" that I didn't want one. The diamond industry makes us feel that we need this stuff to show our love, I just don't buy into it. I might feel differently if my dad was in the jewelry business.

But, we dropped some change in Bora Bora instead. (note to ha - I'm not always frugal, but we LBYM and don't like to accumulate stuff)

 

[Mwsinron]

"I got semi-retirement for my 52nd and full retirement for my 55th "

To my DW and I thats the best gift of all.

 

[brewer12345]

But, we dropped some change in Bora Bora instead. 

Uh, yeah, well, that's not really an option when you have an infant around.  So joolry it is...

 

[shiny]

Uh, yeah, well, that's not really an option when you have an infant around. So joolry it is...

Plus, what matters is what your DW wants!

I was just trying to say that we were looking at rings because we thought we had to, then realized that we didn't.

 

[ESRBob]

Brewer,
Any way you can create a new 'illiquid long-term assets' column on your net worth balance sheet and put joolry in it? That way you could really do right by your wife this anniversary and it wouldn't 'cost' you a dime!

Just looking for loopholes Isn't that how Enron did accounting?

I suspect that having a Dad in the jewelry business means Brewer has a higher obligation put on him to deliver the goods from time to time. Just one of those items you have to budget for... I suppose cubic zirconia are not an option? They can be the ER's best friend, just don't tell Dad.

 

[brewer12345]

I suspect that having a Dad in the jewelry business means Brewer has a higher obligation put on him to deliver the goods from time to time. Just one of those items you have to budget for...   I suppose cubic zirconia are not an option?   They can be the ER's best friend, just don't tell Dad.

Dunno how much longer Dad will stay in the business, so there is a certain amount of "getting while the getting is good" going on here. CZ are flashier than real diamonds, and DW has seen enough good stuff to know the difference.

Besides, we scrimp and save an awful lot. This is hardly a budget buster.