LUXURY WATCHES THAT LOSE THEIR VALUE
In addition to Rolex, Tudor and Patek Philippe watches tend to retain their value, Adams and watch collector Adam Craniotes told Money. All other brands tend to lose value.
“Don’t think about [watches] as financial investments,” Adams told Money. “Buying low and selling high doesn’t typically work so well in the watch world.”
DIAMONDS
Cost: $30,925 per carat
“Diamonds have and retain a market value that is either consistent or increases over time,” said jeweler and diamond expert Dan Moran of Concierge Diamonds Inc. However, it’s important to note that unless you are buying wholesale, you will end up paying more than the price of the diamond itself.
“Any time you pay retail for something, you’re paying for a lot more than the product you’re purchasing,” Moran said. “You’re paying for advertising, staff, lighting, inventory — all the expenses that go into running a retail business get bundled into the retail price.”
Moran also warned against buying lab-grown diamonds, which do not retain value. “A diamond retains its value because there is a finite supply,” he said. “The basic laws of supply and demand maintain that as demand increases, value goes up. With lab-grown diamonds, there is an ever-growing supply but not an overwhelming demand. So naturally, the lab-grown diamond loses its resale value.”
