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-   -   DREW BREES SUES OVER $8 MILLION RING (https://blackandgold.com/saints/88107-drew-brees-sues-over-8-million-ring.html)

AsylumGuido 04-03-2018 02:53 PM
Re: DREW BREES SUES OVER $8 MILLION RING
 
Quote:
Originally Posted by The Dude (Post 797527)
He’s not arguing that the jewelry wasn’t worth what he paid for it. He’s suing because it didn’t go up in value.
No. He is very likely suing because the initial appraisal from the jeweler was wrong. Jewelry doesn't not go down in value if is quality.

AsylumGuido 04-03-2018 02:56 PM
Re: DREW BREES SUES OVER $8 MILLION RING
 
Also, take under consideration that this article is on TMZ.com which is well known for sensationalism.

dam1953 04-03-2018 03:38 PM
Re: DREW BREES SUES OVER $8 MILLION RING
 
Quote:
Originally Posted by The Dude (Post 797518)
Well if Brees just took the guys word that it would go up in value then it’s on him. No investments aren’t guaranteed to make you money. Especially a commodity like gold. The gold market did go up for a while then started to go down. If it was an investment he should have cashed out when he saw the prices start to drop.
The problem is he didn’t invest in gold, he invested in jewelry which is a little bit of precious metal, a piece of carbon that is in excess in a munipulated market, put together with artistic flare. How can you value and artists work. Take any painting that wasn’t created by a dead master and there a good bet the value will drop. I really thought Brees was smarter than this.

Garry42 04-03-2018 03:58 PM
Re: DREW BREES SUES OVER $8 MILLION RING
 
Why is this thread worthy....just asking! smh

TheOak 04-03-2018 04:21 PM
Re: DREW BREES SUES OVER $8 MILLION RING
 
A receipt is not an appraisal. An appraisal is market value and is generally accurate enough for an insurance claim. A receipt is nothing more than proof of purchase and represents the buyers negotiating skills.. :)

Buyer beware.

SmashMouth 04-03-2018 05:00 PM
Re: DREW BREES SUES OVER $8 MILLION RING
 
Quote:
Originally Posted by TheOak (Post 797539)
A receipt is not an appraisal. An appraisal is market value and is generally accurate enough for an insurance claim. A receipt is nothing more than proof of purchase and represents the buyers negotiating skills.. :)

Buyer beware.
You mean he actually got a receipt with that purchase? :confused:

burningmetal 04-03-2018 05:03 PM
Re: DREW BREES SUES OVER $8 MILLION RING
 
Quote:
Originally Posted by AsylumGuido (Post 797530)
No. He is very likely suing because the initial appraisal from the jeweler was wrong. Jewelry doesn't not go down in value if is quality.
I somehow don't believe that is how it works. The jeweler is just trying to sell something. He is going to tell you what he either thinks it's worth, or what he wants to believe he thinks it's worth, or what it might become worth. If someone wants an appraisal, they should go elsewhere. That's common sense.

SmashMouth 04-03-2018 05:26 PM
Re: DREW BREES SUES OVER $8 MILLION RING
 
8 items listed in Drew Brees jeweler lawsuit
Investment piece Date Cost Appraisal Difference
Pink Diamond Ring Dec. 2012 $1.75M $1.28M $470K
Pear-shaped diamond ring Feb. 2014 $285K $85K $200K
Pink diamond pear-shaped earrings March 2015 $975K $176,398 $798,602
Blue diamond ring March 2015 $8.18M $3.75M $4.43M
Harry Winston ring June 2015 $1.575M $600K $975K
Multi-stone ring Oct. 2016 $650K $100K $550K
Multi-stone bracelet Oct. 2016 $850K $352K $498K
Bullet-shaped diamond necklace Dec. 2016 $270K $140K $130K
Source: San Diego court filing

8 jewelry pieces at the center of Drew Brees' fraud lawsuit | NOLA.com

http://www.nola.com/saints/index.ssf...y_lawsuit.html

saintfan 04-03-2018 05:50 PM
Re: DREW BREES SUES OVER $8 MILLION RING
 
I gave Drew a lot more credit than this to be honest.

WillSaints81 04-03-2018 06:40 PM
Re: DREW BREES SUES OVER $8 MILLION RING
 
Just.....just.....wow. LOL.


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