Hedging my bets against Ophyllis

At the beginning of SoD you get to keep all your equipment and items, but Ophyllis gets beaten and robbed of your gold, correct?
So if I wanted to hedge my bets against this, once I bought all the equipment I wanted/needed throughout the first game I could, for example, start keeping all the gems and magical items I find instead of selling them for gold. Then right before the game ends, I could spend all my gold on repurchasing precious gems like rogue stones and beljuril. When SoD starts (after Korlasz's dungeon), I would then be almost penniless but packed with equipment I could sell to the Sorcerous Sundries so I could be rich again and buy whatever I want.
Is that a fair assumption or would my gems and other stuff also get removed when I start SoD?
So if I wanted to hedge my bets against this, once I bought all the equipment I wanted/needed throughout the first game I could, for example, start keeping all the gems and magical items I find instead of selling them for gold. Then right before the game ends, I could spend all my gold on repurchasing precious gems like rogue stones and beljuril. When SoD starts (after Korlasz's dungeon), I would then be almost penniless but packed with equipment I could sell to the Sorcerous Sundries so I could be rich again and buy whatever I want.
Is that a fair assumption or would my gems and other stuff also get removed when I start SoD?
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