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If you are looking to turn a quick profit, then no, it isn't a good investment. In my opinion buying jewelry at retail prices is more of an emotional investment, bought and worn for enjoyment, dress up, to show off success, etc. It will go up in value, given enough time, but keep in mind that when an individual buys jewelry most of the time it is bought at some form of "retail" and sold at "wholesale" or less. Jewelry is an expensive business to operate (whole other story) so the markup seems high. Many times the profit margins are very small especially for single diamonds. A jewelry store owner told me that he can make more money on a 1/2 carat diamond solitaire than on a one carat diamond because of competition with the pawn shops and internet sellers for the 1 carat diamonds.
Part of the emotional investment of jewelry is giving it to someone you love and seeing how pleased they are. I enjoy seeing my wife wear the bracelets and rings I have given her. A friend just gave an engagement ring to a woman who came from an abusive situation--her large bright diamond ring lets her (and others) know that she really is valuable and is loved.
If you are looking to make a profit with jewelry you will need to by scour the pawn shops and eBay looking for the lowest prices, taking the chance it isn't what you thought it was and trying to find a buyer who will pay more. I know several people who do this but it takes a lot of time and considerable risk.
Would you ever buy an engagement ring online in New Zealand?
