This episode of ANC On the Money tackles why jewelries can be considered as an investment and how you can scrutinize and inspect a diamond if it is worth your buck.
Mia Florencio, a gemologist and president of the Guild of Filipino Jewelers, is the guest of this episode.
She believes that jewelries are a good investment because, unlike cars that the minute you drive it off, it immediately losses value, jewelries (specifically diamonds) do not lose value.
Though she deems it as a good investment, she doesn’t recommend using it for short term investing. Generally, the price of gold has gone up in which from 15 years ago, a gram of gold costs just Php 350.00. Now, it costs about Php 2,300.00, she says.
She also exclaims that jewelries are the ultimate form of vanity. Whenever you wear one, you look good; you feel good- you feel happy, you feel beautiful.
There are 4 C’s in examining diamonds.
- Color – diamonds comes in many colors
- Clarity – the clearer; the more expensive it is
- Carat weight – refers to the size of the diamond
- Cut – the proportions of the stone that determines the brilliance of the stone.
There are also many other tips and guidelines given in this episode that will help you in choosing and buying your stone.
It is only here in the Philippines wherein there are two kinds of Gold: the commercial gold; and the standard gold. By and large, a 24K here in the Philippines should be 24K also in Singapore, Japan, Australia, US, etc. But it is only here in the Philippines wherein you think you are buying a 24K when in fact you’ve been sold an 18k or a 16K. The commercial gold might not be what the seller says it is. The standard gold is exactly what the stamp says it is.
Gold sometimes perform better than stocks, especially when there is a global crisis.
But amidst the pros of investing in gold, there are also cons. Gold is easy to lose and are prone to theft. Also, they are very hard to sell. It is hard to look for someone who will buy your stone for its right price.
As with any investment, you have to think of how you are going to liquidize your assets.
Question and Answer
What kind of jewelry is best to invest in? I love jewelry but I also want to have value for money. What should I look for when shopping for jewelry?
It depends on what you want. Some people want rings, some people want earrings or necklaces. It also depends on your budget. I prefer something that is more classic so that it will last and you can build around them.
If you want to see the whole episode, click the link below: