May 7, 2008

Jewellry and big ticket items

Question to my readership:

Do you include the value of big ticket items (e.g. big plasma TV) and jewelry as part of your net worth?

4 comments:

  1. elliott,

    really? maybe not the big plasma tv, but why not jewelry? golds, diamonds, etc - they have significant worth in the market.

    would love to hear more thoughts on this!

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  2. nope, it's just no guarantees if they would sell/what they would sell for.

    Case in point: my dvd player is in perfect condition (used 1-2x) and is priced half of what I bought it for (and less than all the other dvd players on craigslist), and NO ONE is buying it. The market is not reliable for goods.

    I count cash/stock accounts only, and even then, stocks are not reliable.

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  3. For one, maintaining an accurate valuation over time would be difficult. However, my main reason I don't count jewelry is that I didn't purchase it as an investment and have no intentions of selling.

    I'm pretty sure that my wife wouldn't like seeing her engagement ring, wedding band, or diamond earrings (my wedding /medical school graduation present to her) sandwiched between Vanguard index funds and savings accounts when calculating our net worth.

    That being said, I still insure the more valuable pieces.

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