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Wow, I guess the saying is true: a fool and his money are soon parted. Why would anyone need such an expensive ring that depreciates as fast as a new car just driven off the lot?
As for whether it's that expensive, that depends on how wealthy he is. It might be like someone else spending $2,000, compared to income.
I think he'll win the case. Engagement rings are given in contemplation of marriage. Even if he breaks it off, I think it has to be returned. But he would be on the hook for any wedding expenses she's incurred, like the dress, catering orders, and such. But she'd have to sue separately for that. She'd still have to give the ring back. But maybe it's state law, and it's not that clear.
But I can understand why she doesn't want to part with it! Wow...that's probably a terrific ring! For a woman to want a ring like that, it sounds like she comes from money, and he was marrying up. Your average gal isn't that schooled in diamonds & such, unless she is used to things like that.
But we only have his side of it. She has a side, also. But really, who would want an expensive ring like that, anyway? You'd have to insure it, and you can't wear it everywhere. You'd be a mark for burglars,
Agree. I was surprised to read that someone thinks diamond jewelry depreciate in value the same way a car does. Also, some people buy jewelry, at least partly, for investment purposes.
It doesn't appreciate the way some people think it does. When one has a piece appraised for insurance, it's not the same price one will get in the resell market. Even if it's Harry Winston. Insurance appraisal is higher.
Rarely. Unless it’s a investment grade clarity and above a certain carat.
Yes. That’s right. But this guy took out a loan and used cc to do it. Multi millionaires have that money. I dint think this guy did have the money everyone assumes he does. His profession doesn’t mean anything. Most lawyers don’t get paid millions. Most lawyers average 140,000 dollars a year.
No, he had to finance 30K out of 100K. Still means he can probably "afford" it. Smart...maybe not.
We all have things we don’t need, but we don’t take out a $30,000 personal loan, savings, and max out credit cards to purchase 1 big thing we can’t afford.
I think you need to re-evaluate "non-sequitur." And then re-evaluate your original question.
Human's do all sorts of things we don't "need." Including you.
This. This is the reality check people need, regarding how much lawyers make. There are only a few niches in the legal field. that pay highly, and even then, it's not enough to drop $100K on a ring for Muffy.
True, but I'm guessing this guy is clearing much more than 140K. Whether it was a smart decision or if he can truly "afford" it is another set of questions.
Demanding a certain kind of ring is a huge red flag and if he was foolish enough to miss that red flag then as the old saying goes, a fool and his money are soon parted.
I thought that was the legal deal, with some degree of legal precedence.
If she breaks it off, he gets the ring back.
If he breaks it off, she has the option to keep it.
(And there it is, one more data point for the axiom, the bigger the stone the shorter the marriage. This one was so huge she didn't even make it down the aisle before calling the impending marriage off)
It is. It is what they call a conditional gift: a gift given only if X occurs, in this case, marriage. They did not get married, therefor he gets the ring back. But the law varies. Sometimes he gets the ring back no matter who breaks up with who. Sometimes it depends on the reason for the break up. Sometimes she gets to keep it (but this is rare.)
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