Beavis

February 17th, 2010 at 7:40 PM ^

Much more reasonable than Nic Cage buying some island trying to be the next Marly Brando. In the words of Adam Carolla, "He did Bangkok Dangerous!"

ckersh74

February 17th, 2010 at 8:20 PM ^

A fool and his money are soon parted. Some people have more money than brains. If you leave them alone long enough they'll show that they have none of either.

PitchAndCatch

February 17th, 2010 at 9:00 PM ^

i find it an inappropriate leap in logic to assume that he is not buying a bunch of weed because he bought a blinged out version of his head on a chain. actually, the fact that he bought a blinged out version of his head on a chain would cause me to think that he IS spending his money on a bunch of weed.

aaamichfan

February 17th, 2010 at 9:17 PM ^

He should be buying something with ROI, but there are certainly dumber purchases a person can make than diamonds. Surprisingly, this is much better than buying a $5M house or 10 cars. Unless he goes MC Hammer broke and has to unload them in a fire sale, its pretty safe to assume they will hold their value.

aaamichfan

February 18th, 2010 at 12:08 AM ^

That is true, you would probably end up selling diamonds for less regardless. Still though, with the cost of property tax and insurance for houses and cars(respectively), I imagine the diamonds will leave him with more in the long run.

Don

February 18th, 2010 at 5:04 AM ^

Without people being willing to part with their cash to sit in the stands this wouldn't be possible, because advertisers would never sponsor the NBA if the stands were empty.

Blue in Yarmouth

February 18th, 2010 at 8:25 AM ^

Stories like this are what make the general public outraged about the money athletes get paid. It is hard to argue that men playing sports and working out for a living while getting paid millions are over paid. However, when you put into perspective the money these owners make on the backs of these athletes, it is hard to argue that they shouldn't get millions for what they do. I hate to hear stories about these athletes squandering their money though. They have the opportunity to do some really special things (i.e. Charles Woodson) for other people but sadly, most of them do things like this. If this guy goes broke, I don't think there will be too many people knocking down his door to get those diamonds he just paid big money for, because who wants someone elses head hanging around their neck?

Captain Obvious

February 18th, 2010 at 2:30 PM ^

money is overpaid, unless they are doing something underhanded (i.e. stealing). The market determines people's wages. Pro atheletes have a unique skill that people will pay to watch and buy products based on endorsements. People have also determined that Snooki's appearance at parties is worth $7500 or something. Blame the consumers. /econ 201