DREW BREES SUES OVER $8 MILLION RING

AsylumGuido · 04-03-2018, 02:53 PM

Originally Posted by The Dude

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

Also, take under consideration that this article is on TMZ.com which is well known for sensationalism.

dam1953 · 04-03-2018, 03:38 PM

Originally Posted by The Dude

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

Why is this thread worthy....just asking! smh

TheOak · 04-03-2018, 04:21 PM

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

Originally Posted by TheOak

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?

burningmetal · 04-03-2018, 05:03 PM

Originally Posted by AsylumGuido

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

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

I gave Drew a lot more credit than this to be honest.

WillSaints81 · 04-03-2018, 06:40 PM

Just.....just.....wow. LOL.

04-03-2018, 02:53 PM	#21
AsylumGuido 10000 POST CLUB Join Date: Sep 2007 Location: Bossier City, LA Posts: 26,044	Re: DREW BREES SUES OVER $8 MILLION RING Originally Posted by The Dude 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.

04-03-2018, 02:56 PM	#22
AsylumGuido 10000 POST CLUB Join Date: Sep 2007 Location: Bossier City, LA Posts: 26,044	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. st thomas likes this.

04-03-2018, 03:38 PM	#23
dam1953 1000 Posts + Join Date: Jan 2012 Location: SW Ohio Posts: 4,645	Re: DREW BREES SUES OVER $8 MILLION RING Originally Posted by The Dude 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.

04-03-2018, 03:58 PM	#24
Garry42 Site Donor 2014 Join Date: Sep 2011 Location: Edmonton, Canada Posts: 785	Re: DREW BREES SUES OVER $8 MILLION RING Why is this thread worthy....just asking! smh RailBoss likes this.

04-03-2018, 04:21 PM	#25
TheOak 10000 POST CLUB Join Date: Dec 2009 Location: Cypress Tx. Posts: 19,019	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. Halo, saintfan, halloween 65 and 1 others like this.

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04-03-2018, 05:00 PM	#26
SmashMouth I donated, did you? Join Date: Sep 2007 Location: Mandeville, LA Posts: 38,044 Blog Entries: 29	Re: DREW BREES SUES OVER $8 MILLION RING Originally Posted by TheOak 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?

04-03-2018, 05:03 PM	#27
burningmetal 1000 Posts + Join Date: Mar 2012 Posts: 3,923 Blog Entries: 3	Re: DREW BREES SUES OVER $8 MILLION RING Originally Posted by AsylumGuido 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. halloween 65 likes this.

04-03-2018, 05:26 PM	#28
SmashMouth I donated, did you? Join Date: Sep 2007 Location: Mandeville, LA Posts: 38,044 Blog Entries: 29	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

04-03-2018, 05:50 PM	#29
saintfan Donated Plasma Join Date: Jul 2002 Location: San Francisco, CA Posts: 18,556 Blog Entries: 5	Re: DREW BREES SUES OVER $8 MILLION RING I gave Drew a lot more credit than this to be honest.

04-03-2018, 06:40 PM	#30
WillSaints81 1000 Posts + Join Date: Oct 2012 Posts: 4,267	Re: DREW BREES SUES OVER $8 MILLION RING Just.....just.....wow. LOL. SmashMouth likes this.

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