So houses in Merida are only worth 200 bucks?
He made far more in superchats last night than the ring is worth.
Stream on Rumble endet with $164
Iām sure Ralph really thought it was some real expensive ring when his uncle got rid or the gaudy thing from his junk drawer. 85% of the value is in the gold, the cloudy old mine cut diamonds have very little value.
But I have a hard time believing piggy wouldnāt have run down to a pawn store to have it looked at and been given the bad news, but continue to put on a brave face. (Or he might actually have avoided ever having the ring appraised because he prefers it stays in the fantasy world where he is also a rich successful streamer and e-celeb.)
The scam to make people feel better about ridiculously overpaying for jewelry, or some family heirloom they want to believe has more than sentimental value, is to get an insurance appraisal for āreplacement valueā and since that is also based on the ridiculous retail jewelry market prices they always, always get a high, very inflated value. Ralph would probably be told his ring has a $3-4k replacement value. (Replacement value has nothing to do with the actual asset value of the ring.)
The āreplacement valueā is long running scam in the jewelry trade to make people believe they are buying something valuable. Itās almost always the number you see given when people are trying to sell jewelry. Yes, the actual cash value of X piece of jewelry is $300, but if you had to buy it again from the jewelry store they would still be using the 400% retail mark up so therefore the replacement value is $8500!, or whatever the retail list price the jewelry store is trying to con people into paying.
āReplacement Valueā was a nifty invention of the jewelry trade to try and trick people into believing they werenāt vastly overpaying for jewelry and making a very good investment!