[GLBSE] GEM - Invest in Diamonds!!!

[c0ffer]

c0ffer Gemstone Sales Announces GLBSE - GEM Listing

GEM GLBSE shares are attached to the value of physical gemstone assets allocated to the shares. Shares can be redeemed for physical inventory. Physical inventory for these shares are diamonds.

Current holdings: Diamonds 1ctw (1 pt. x 100)

(pic only shows some of the entire carat)


Shares Issued: 100 (1 share = 1 diamond)

Shares Available For Sale: 50 (25 SOLD)

Opening bid for shares is 1BTC

This is an experiment in tying BTC to the value of diamonds

I have allocated 100 1pt. diamonds to be held against the shares sold.
If you own a share, you own a diamond.
If you want to cash out your share, you will be sent a diamond (you must pay for shipping).
I have released 25 shares for sale and will release another 25 if the first 25 sell.
If I sell the diamonds for a profit, the proceeds will be reinvested in more diamonds and increase the value of the shares proportionately.

This should be interesting to see how it goes

Feel free to post questions or PM for more info.

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[c0ffer]

Yes, that is another way of breaking it down. If you were to cash in your share immediately, you would be buying 1pt diamonds for 1BTC each.

Wholesale pricing on 1pt diamonds is roughly $300-$450 depending on quality, etc. These are very nice and can easily fetch that price (I will have stats to accompany the pics) so the potential for turing them over and increasing the value of the fund is not unrealistic. The retail price for them is higher of course.

In the event that diamonds are sold/reinvested or if shareholders redeem their shares, I do have access to additional quantities to continue the offering and support the shares.

Even if the diamonds are strictly held, then the value of the shares in BTC should move based on the value of BTC.

I will also be adding a section to my website that will have all of the info I post here and additional information, stats, pics, etc.

[bluefirecorp]

Wholesale pricing on 1pt diamonds is roughly $300-$450 depending on quality, etc. These are very nice and can easily fetch that price (I will have stats to accompany the pics) so the potential for turing them over and increasing the value of the fund is not unrealistic. The retail price for them is higher of course.

Wait, do you mean 1 ct of diamond?

[SgtSpike]

Yes, that is another way of breaking it down. If you were to cash in your share immediately, you would be buying 1pt diamonds for 1BTC each.

Wholesale pricing on 1pt diamonds is roughly $300-$450 depending on quality, etc. These are very nice and can easily fetch that price (I will have stats to accompany the pics) so the potential for turing them over and increasing the value of the fund is not unrealistic. The retail price for them is higher of course.

In the event that diamonds are sold/reinvested or if shareholders redeem their shares, I do have access to additional quantities to continue the offering and support the shares.

Even if the diamonds are strictly held, then the value of the shares in BTC should move based on the value of BTC.

I will also be adding a section to my website that will have all of the info I post here and additional information, stats, pics, etc.

Wait... so you are selling $300-$450 worth of diamonds for 1BTC each?  I don't mean to be accusatory, but how could this NOT be a scam?  How on earth can you buy them so cheaply that it makes it profitable for you to sell them for 1 BTC each?

[teek]

Yes, that is another way of breaking it down. If you were to cash in your share immediately, you would be buying 1pt diamonds for 1BTC each.

Wholesale pricing on 1pt diamonds is roughly $300-$450 depending on quality, etc. These are very nice and can easily fetch that price (I will have stats to accompany the pics) so the potential for turing them over and increasing the value of the fund is not unrealistic. The retail price for them is higher of course.

In the event that diamonds are sold/reinvested or if shareholders redeem their shares, I do have access to additional quantities to continue the offering and support the shares.

Even if the diamonds are strictly held, then the value of the shares in BTC should move based on the value of BTC.

I will also be adding a section to my website that will have all of the info I post here and additional information, stats, pics, etc.

Wait... so you are selling $300-$450 worth of diamonds for 1BTC each?  I don't mean to be accusatory, but how could this NOT be a scam?  How on earth can you buy them so cheaply that it makes it profitable for you to sell them for 1 BTC each?

+1 what's the deal here?  how can you sell $300 worth of diamonds for $3.  I'll take them all please.. thanks.

[c0ffer]

This is not a scam in any way. I have sold many stones here and am now trying something new with Bitcoin economics

There are 100 x 1pt diamonds for a total of 1 carat.

There are 100 shares issued with one share equalling 1 x 1 pt. diamond.

BTC is currently at ~$3, so 1BTC for each share x 100 = $300

So if all of the shares were bought and redeemed then there would be 100 x 1pt. diamonds sold at $300 which is in around the wholesale price I originally mentioned.

[OgNasty]

Wholesale pricing on 1pt diamonds is roughly $300-$450 depending on quality, etc. These are very nice and can easily fetch that price (I will have stats to accompany the pics) so the potential for turing them over and increasing the value of the fund is not unrealistic. The retail price for them is higher of course.

Wait, do you mean 1 ct of diamond?

Pretty sure he meant 1ctw for $300-$450.  Otherwise he'd be saying that 1ctw could fetch $30,000-$45,000...

[teek]

Wholesale pricing on 1pt diamonds is roughly $300-$450 depending on quality, etc. These are very nice and can easily fetch that price (I will have stats to accompany the pics) so the potential for turing them over and increasing the value of the fund is not unrealistic. The retail price for them is higher of course.

Wait, do you mean 1 ct of diamond?

Pretty sure he meant 1ctw for $300-$450.  Otherwise he'd be saying that 1ctw could fetch $30,000-$45,000...

Ok that makes more sense.. OP can you confirm?

[c0ffer]

I see where there may have been a misunderstanding after reading my posts...

I meant to post:

...
Wholesale pricing on 1pt diamonds is roughly $300-$450 per carat depending on quality, etc....

[c0ffer]

Pretty sure he meant 1ctw for $300-$450.  Otherwise he'd be saying that 1ctw could fetch $30,000-$45,000...

This is correct

My apologies for the typo in that response.

The original post had those details:

Current holdings: Diamonds 1ctw (1 pt. x 100)

[OgNasty]

What clarity range are the stones? 

[c0ffer]

Wow, the response to this has been significantly higher than I anticipated. I will have all of the stats and pics up shortly.

So far the first lot of 25 shares has been sold... In less than 24 hours! 

[c0ffer]

Yes, the second round of 25 will also open at 1BTC.

[c0ffer]

Getting ready to post the next lot


Keep your eyes on the GLBSE if you want shares, these are going FAST!

[c0ffer]

Sell order posted

[OgNasty]

Will you be putting up a motion for shareholder approval before issuing more shares?

[c0ffer]

Motions will be put forth for actions that directly affect the value of the shares. The best example of this would be selling of the assets for the purposes of reinvesting into more diamonds of a similar nature. If there were to be a decent margin increase then this would directly affect the ultimate value of the shares since the holdings would increase from the original 1pt stone per share.

In a case where the overall holdings were being multiplied then a motion will not be put forth. The example here would be if I added another carat of 1pt diamonds right now, then another 100 shares would be issued. The opening for those shares would be based on the value of BTC at the time and/or market value of the existing shares, but there would be no motion for the addition.

[Turbor]

I like the idea of purchasing gems with bitcoins. I would not mind to pay 30 and more BTC for a nice stone but for that we need better pics and more information. Something in this direction http://www.gemselect.com/sapphire/sapphire-304593.php

[c0ffer]

I understand completely and I will have some more offers like that very soon.

I have several higher value stones available for sale and am in the process of adding them to my site. Once I have good pics available I will also post some here.

This GLBSE listing is meant more as an experiment in Bitcoin economics and tying BTC value to a physical commodity.

If you are looking for "investment grade" stones, I will be posting some very soon

[Turbor]

I understand completely and I will have some more offers like that very soon.

I have several higher value stones available for sale and am in the process of adding them to my site. Once I have good pics available I will also post some here.

This GLBSE listing is meant more as an experiment in Bitcoin economics and tying BTC value to a physical commodity.

If you are looking for "investment grade" stones, I will be posting some very soon

Cool thanks for the info.