Move over, E-Bay

This year, I lost a $720 diamond ring. I had bought it at a discount at the Gem and Mineral Show here in Tucson. Since I lost it through basic stupidity (leaving it in a place my toddler could reach), I decided not to replace it and instead purchased a very similar ring made of cubic zirconium via Amazon.com. The new ring is small, tasteful and virtually nobody realizes it is not a diamond. The price? $13.49.

However, had I seen this site called Bidz, I might have considered buying another diamond ring, particularly if I could get one for less than $100. I don't know how long my silver and cubic zirconium ring will actually last. That being said, the prices on this site show yet another aspect to this; although the ring had been a gift, diamonds are not a good investment of money. Instead of buying a diamond ring, it would probably be worth it to take that cash, however much it may be, and buy the company that sells them -- shares of it, at least.

It may not be shiny and sparkly, and may not fit on your finger, but extra money in the bank? Now that's pretty.

DIAMONDS MAY BE forever, but on Bidz.com they're hardly priceless — and that's turning out to be a valuable strategy for this online jewelry auctioneer. Rings, ruby bracelets and pearl earrings all start off at $1 on Bidz. Shoppers decide the final price, with winners often making off with their bounty for under $100.

Bidz is the creation of Chief Executive David Zinberg, an immigrant from Moldova who took his first job in the U.S. in a shoe store. He went on to form a business selling jewelry on eBay and parlayed that into what is now Bidz.com, a roughly $400 million company whose stock has risen 125% since its May initial public offering. In August, Zinberg decided to forgo his annual salary and receive a nominal $1 a year, with no stock options or bonus, saying the move more closely ties his pay to the company's performance. The CEO owns close to three million shares of the company. (Read the entire article here).