Starting off–ink jet printers
Diamonds. Anyone who has tried to sell jewelry will tell you: gold retains value but the money you get for diamonds is abysmal. Which is why I urge everyone to buy synthetic diamonds. In many cases they look purer than natural diamonds, are free of conflict, and hold just as much sentimental value.
Moissanite is also very lovely
A moissanite is an artificial diamond, Lincoln. It’s Mickey Mouse, mate. Spurious. Not genuine. And it’s worth… FUCK all.
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They don’t just look purer, they are purer!
The problem is that rich people have been fleeced by diamond sellers for so long that they over value the “story” of a diamond (IE, carbon forged into a diamond over millennia etc etc. as a symbol for love blah blah).
Which come from extinct volcanoes, super romantic!
The only reason they’re expensive is artificial scarcity. De Beers only let a limited supply on the market each year. Diamonds themselves really aren’t that rare at all
Cars. Cars are stupidly called an asset, and I guess they retain some value, but not really. It loses 50% of it’s value the second you drive it off a lot and continues depreciating the longer you own it. It requires maintenance and gas, tags, insurance. It’s a liability. If you need one, then purchase it knowing that you are purchasing an item. A car is never an investment.
Bruh I wished cars lost 50% of their value when they drove off the lot. Have you tried to buy a used car recently?
I still wouldn’t call a car an “investment” or anything, but 100% agreed. The whole “cars lose 50% of their value when you drive off the lot” thing might have been true before the Cash for Clunkers program, but it isn’t anymore. Or maybe it’s true if you’re trying to trade-in the vehicle.
If I wanted to buy the (fairly popular) car I’ve been driving for over 6 years with the same mileage, it’d cost me over 2/3rds what it cost new When I bought it, new cars were less expensive than used cars (i.e., like less than two years old with less than 25k miles) thanks to how much better the interest rates were on the loans. A couple years later, I was getting offers for more than I paid for it. And none of that is a unique experience.
I went with a friend to look at used cars at CarMax. They had a 1 year old Subaru that was going for only $1k less than a brand new one.
I know CarMax is shitty and expensive. But that was even more ridiculous than I was expecting.
The trick is to buy a 25 year old car in good condition, and then store it in a dry place under a tarp for at least 10 more years.
I think it’s okay to spend money on a card but not to delude yourself into thinking it’s an investment. I think you can be right, maximizing your value, I also think you can spend 80k on a car, as long as you know that you’re spending 80k to drive, not expecting to ever make any of that money back.
The patern on easy money tends to be - buy something that 15yo boys lusted after when its 15 years old and hold it for 10 years then watch the values climb over the next 10 before they plateau and then drop.
Middle age is a bitch.
Maybe if you buy a Kia. Most cars barely depreciate in the first 3 years. Once leases turn in they drop a bit, but still not to 50% of their value. Shit during the pandemic my 3 year old car was worth more than what I bought it for. Things have improved, but they’re not to pre pandemic pricing.
Kia’s and Hyundais also aren’t depreciating as badly as they used to. But they’re still pretty bad, only being rivaled by the high end luxury cars.
Fine maybe not 50% immediately. I just ran the numbers and a Ford F150 purchased 2 years ago for 42k would today be worth (max) 30k. I wouldn’t exactly call that an investment, or an asset even. I would definitely call the loss of 12k in value depreciation.
I see a crapton of Kias in northern Maine. No idea if that is even slightly relevant.
I bought a 2015 Mitsubishi in 2018 for like 12k USD and it’s worth more now than when I got it.
That’s not usual though, it’s because of COVID. And the fact that somehow it’s fully loaded and low mileage for that price—I think that might have been a mistake.
Generally true, but sometimes you get lucky: I bought a fully loaded Camry in mid 2021, heavily discounted, because it was one of the last previous year model cars they had in the country and at 0% apr for the duration of the 3 year loan. This was right before shortages started and inflation skyrocketed. As a result its value on the used market stayed over what I paid for 3 years and even now it’s lost only about 10-15% of the purchase price.
Still lost value though. Investments and assets can gain or lose value. Cars only lose value.
Most cars only lose value.
A very tiny minority of mostly exotics become collectors items and are worth many times their original value, even after considering inflation.
Yeah I thought about adding that in, but then people think “Like my car!” Pretty much only if you’re buying a literal junker knowing you’re going to refurbish and rebuild the entire thing into mint condition - and you know it’s a high value car, then you’ll probably make a profit. (Even then though, what’s the value of the time and money there)
100% true for the kind of cars you buy to drive.
Assets and investments are not the same. End thread
And I argue that they should be considered neither
Is your argument that an asset doesn’t (or shouldn’t) depreciate?
My argument is that something that only depreciates shouldn’t be considered an asset
This is my logic too. I own my house but have been leasing a new car every year for over ten years now.
I was kind of skeptical at first but for now I think it works out for us.
I think it’s fine to own, but not as an asset but more of a cost to drive. “I am paying $30k (plus interest) to be able to drive for the next 10 years”. To me, that is a realistic expectation
Vegetables. Purchased with all the intent of eating them before they go bad. I don’t eat them quickly enough and they go bad. There’s no in between stage. They were edible and now they are not.
The struggle is real
Milk too. I only need milk for my cortados, so often end up with way too much milk. Usually end up making some milk cakes.
It’s why I buy mostly canned veggies.
Among vehicles, boats and RVs are notorious
It is wild to me that anyone would call those things assets.
They are toys.
Wonderful toys, but still toys.
Vehicles. They break down and rust but are priced like a new home when they are new.
Vehicles are durable goods but hard to call them an asset either unless it is a collectible type thing
A majority stake in Twitter.
He wasn’t buying twitter, he was buying the presidency and it worked.
It’s looking like that might not have been a great investment for him either.
Diamond engagement rings
Eh Diamond is okay, as long as it’s artifical. Better clarity and color, not contributing to the blood diamond trade, and a fraction of the price.
That being said, there are a ton of other prettier gems anyway, diamonds are boring as fuck.
I’ve heard a fair argument in favor of diamonds that their hardness means they last a lot longer for everyday use. Softer gemstones are more prone to wear and tear over time.
But as far as I know, that doesn’t mean it can’t be artificial.
Artificial diamonds are still diamonds! Just because nobody died to make it they are identical on a chemical level.
Diamonds are ok for what?
They are shit as an investment and as you appropriately pointed out there are better looking gem stones.
Sex toys?
0 resale value
99.999% of used sex toys by owner absolutely.
That 0.001%… massive increase in value.
I guarantee you theres a guy out there who would bankrupt his family for something thats been in Keira Knightley.
Bad Dragon dildos can be resold for 80+% of their normal value. Cleaned and boiled, not just used ones to pervs!
Can confirm. I’ve bought and sold tons of Bad Dragon and other high quality sex toys on used markets.
Could go either way depending on the seller.
Cars
Storage (tech), bike tires, many consumable parts. Almost all digital goods, too.
The prices I’m seeing people trying to flog their 6th gen i3, RTX 960 computers on Facebook marketplace beg to differ. Absolute dreamers in the used market for tech.
Calling a consumer product product an “asset” is some gymnastics…
Up there when you are calling primary residence an investment lol
really small rocks
dildos?
Not Bad Dragon, those can be resold for a good percentage of their new price!
Literally how?
You boil them to clean them, put em in a zip lock bag, post online on forums, and find someone to buy them!
Board games :(
Anything tech. It’ll be obsolete before you know it. Some products go “obsolete” before it’s actually too old to be usable because the company wants you to buy the new one.
