We remain perpetually surprised that customers often think of diamonds or jewellery as expensive purchases.
When we make comparisons between customers other spending, we cant help but wonder why folk consider diamonds and jewellery as being expensive.
The capital cost of owning a car is about one third of its current value, each year. So a new £10,000 car will depreciate by about £2500 in its first year, plus the financing cost, even before insurance, fuel, and servicing. We had a customer who came to treat his wife to a diamond ring. She felt guilty about choosing one at £2000 over one at £1000, and he wouldnt help her decide. Outside was his brand new £40,000 Jaguar!
We frequently meet 20 or 40 cigarettes a day smokers, (In Britain 20 fags per day costs well over £1000 per annum), who think that a £1000 diamond ring is beyond their reach, and only to dream about!
Fifty years at 20 cigarettes per day works out at well over £50,000
The owner of of £10,000 diamond ring could feel like a millionaire!
Costas, Crete, Corfu, Cuba and Cunard
We meet families who spend £4000, and more, on a fortnights beach holiday, to whom £500 for a diamond ring seems to be a fortune.
Consider Costs Carefully
Only by stopping to think about the lifetime cost of other consumer goods, can you compare the cost of quality jewellery. Most people only buy one or two diamond rings in every lifetime. We believe its worth spending more to get something good. Compared with the lifetime costs of other goods, diamonds arent a major expense.