Why pay more for the same diamond?
If you have read any of my previous posts you will note a theme that runs through many of my blog posts. This recurring theme is that you should avoid the lowest price diamonds. These diamonds are cheaper in price because they are usually worth less than the more expensive diamond. This is true despite the fact that – ON PAPER – they may seem to be the same GIA grade!
My wife and I recently purchased a new home. In the development in which the home is located there were six homes that we looked at. Each of the homes was built by the same builder at the same time. Each were similar in terms of their square footage. Some had better lot locations than others.
The homes varied in the ‘sales price per square foot”. The prices ranged from a bit less than $140.00 per square foot to a bit more than $180.00 per square foot.
Which home did we purchase? The one for more than $180.00!! And it was on one of the least valuable lots!
No. I am not wealthy enough that I do not care about the price. I certainly do care.
Quite simply, despite the fact that each of the houses can be measured in “square footage”, the house we purchased was nicer. It had a better feel. It had better finishes. It had a “special” character that the others did not have – for US!
So you ask – What is the point of this particular blog post?
As I have said repeatedly throughout my years in the diamond business, the specifications that are on paper tell only a part of the overall picture. The sure footage of a house – on paper – is similar to the GIA designation of a color and a clarity. To some, it tells everything they think they need to know. To others, they understand that things cannot be simplified down to numbers or letters – and the object, whether it be a house or a diamond or a beautiful woman or almost anything in life, must be seen with one’s eyes in order to determine what it truly looks like.
I could have bought the bargain house for 30% less money for the same square footage. And, believe me, the difference in the overall amount of money is substantial.
But each time that I drive up to my house and each time that I walk into it – I will be home in the house that I truly will love and enjoy.
The bottom line is this. If you go through life only concerning yourself with “lowest” price, you may be cheating yourself out of pleasure and enjoyment!