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Portfolio Mines A New Market For Old Diamonds

By 04/11/2016June 4th, 2021No Comments

It’s a disputed figure, but the one most commonly quoted is that 40 to 50 percent of all marriages in the U.S. end up in divorce. The National Center for Health Statistics said in 2014 there were 3.2 divorces for every 1,000 persons.

Not only does divorce bring an emotional toll, it often requires a division of property. One piece of property that is often overlooked is the engagement ring. After the divorce, the former wife has few options when it comes to reselling her ring. She can take it to a jeweler or a pawn shop or sell it on an online auction site for general merchandise. There she will receive a fraction of what the ring originally cost. If it has high value she can sell it at a professional auction, which is a long and expensive process.

Israeli entrepreneur Benny De-Kalo believes (along with some others) there is up to $1 trillion worth of diamonds in drawers, jewelry boxes and in safes around the world and 40 percent of that value is in the U.S. In addition to diamond engagement rings, $8 billion to $9 billion dollars in jewels and watches are inherited.