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Cushion Cut Diamonds Pros Cons

Cushion Cut Diamonds

When it comes to luxury and diamonds, there is rarely any debate. They are two jewels that are always associated with wealth, status, and extravagance. But what about the rest of the world? Does spending a small fortune on a diamond mean the same as it does in the upper classes? Read on to find out more about the pros and the cons of diamond-buying for less and less wealthy individuals.

For those on a limited budget, a diamond is not a luxury that they can easily afford. However, they may see it as a symbol of status and esteem. This is why they may enjoy purchasing a diamond even if they do not have the financial resources to fund their extravagant lifestyle. In some cases, diamonds can be found in abundance in nature – meaning they are not that expensive to purchase. Additionally, diamonds are easy to maintain and rarely require professional help. Finally, Cushion-cut diamonds are relatively easy to sell if the need arises (for those on a budget, obviously).

The Good

On the downside, diamonds are relatively small in size compared to other luxury gems. This makes them less than ideal for those who want to use them as a means to an end. Additionally, diamonds are not that versatile when it comes to changing their look. They tend to stay the same, no matter what combination of color, clarity, and cut is used to create the illusion of a bespoke piece.

The Bad

While diamonds are generally perceived to be a symbol of elegance and sophistication, this is definitely not the case when it comes to finances. Due to their fixed nature and the ease with which they can be purchased and sold, diamonds are highly volatile in value. With the current state of the global economy, this volatility has increased. In some cases, diamonds have plummeted in value, becoming so cheap that it is almost impossible to make a profit from their sale. In general, diamonds are a poor investment, especially for those on a budget. Additionally, diamonds are often seen as a status symbol. This means they can be used to purchase luxury goods and services, fueling the current luxury goods market which is estimated to be worth around US$16 trillion globally.

Also, Check – Estate Planning Essentials

The Ugly

To put it mildly, diamonds are a minefield of pitfalls when it comes to financing. Not only are they relatively unstable in value, but they are also an easy target for thieves who want to make a quick buck. This last point is certainly a con in itself, considering that most of us would like to keep at least some of our money in our pockets rather than invest it in a car or house. Finally, diamonds are often used as a means to an end rather than as a luxury item in themselves. This means they are purchased with the intention of selling them to fund another venture. The fact that diamonds are often seen as a status symbol makes this all the more attractive. Unfortunately, this also makes them more vulnerable to theft, as they can be more easily replaced than other luxury goods.

Considering all of this, it is clear that diamonds are not exactly the most suitable luxury item for those on a tight budget. This does not mean that they are without their advantages. They still represent status and elegance and can be used to purchase luxury goods and services. Just make sure you understand the risks before you commit to buying diamonds as a luxury item.

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