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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).
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.
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.
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.
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.
A majority stake in Twitter.
He wasn't buying twitter, he was buying the presidency and it worked.
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
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.
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!
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
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.
DSLR / Mirrorless camera bodies.
Lenses less so, until the manufacturer switches mounts.
Food
Medical supplies
Batteries
Men's underwear.
I would also say custom motorcycles and probably many things people customize. It costs money to make things unique, but that uniqueness costs you resale value.
Nah, a well done custom will retain most of its value provided we arent talking about hyper individual customisation. Theres a lot of dead time involved in a well executed custom and theres a value to it being already done that a lot of cashed up people are willing to pay a premium on that offsets the outlay, You usually wont make money though.