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+--- Thread: Tutorial Selling Jewels 💍 (/Thread-Tutorial-Selling-Jewels-%F0%9F%92%8D)
Selling Jewels 💍 - EdenSlate - 09-12-2023
Currently researching unsaturated jewelry stores to hit, some questions arise.
While I'm fairly confident in my ability to successfully SE, I'm rather worried about being able to sell the stuff afterwards.
Knowing nothing about this notoriously-obscure market, experience from an OG would be greatly informative.
Gold is fungible. Does it make it easier to sell than diamonds?
I would imagine the latter can only be sold with certificate provided by the store, increasing traceability.
In both instances, ID probably required by the store buying?
Or find some shady OTC buyer & greatly discount selling price... ?
Any input appreciated!
RE: Reselling Jewels 💍 - Jazz202 - 09-13-2023
hey! what do you mean by unsaturated stores?
RE: Reselling Jewels 💍 - HeadxHunter - 09-13-2023
(09-12-2023, 06:52 PM)EdenSlate Wrote: Currently researching unsaturated jewelry stores to hit, some questions arise.
While I'm fairly confident in my ability to successfully SE, I'm rather worried about being able to sell the stuff afterwards.
Knowing nothing about this notoriously-obscure market, experience from an OG would be greatly informative.
Gold is fungible. Does it make it easier to sell than diamonds?
I would imagine the latter must be sold with the certificate provided by the store, increasing traceability.
Yes. You can bring it to any jeweler to melt it down. Can actually sell back to jeweler as well.
In both instances, ID probably required by the store buying?
Or expect hard price discounting, knowing it's shady OTC biz...
I'd honestly discount 10% sell it to jewelers or even ebay. This is where I get most my jewelry.
Any input appreciated!
RE: Reselling Jewels 💍 - EdenSlate - 09-13-2023
(09-13-2023, 12:07 AM)Jazz202 Wrote: hey! what do you mean by unsaturated stores?
Stores that don’t get mentioned 200 times/day by brainless leechers on Nulled/Cracked
In this instance, online jewelry stores. Each country has some of its own local stores.
Sweet spot is : big enough they can afford to refund some orders / not so big they get SEd by everyone & their mom.
RE: Reselling Jewels 💍 - fasho1212 - 09-13-2023
So I have some personal experience hitting a franchise jewellery retailer myself. Here's some things I can provide in point form
1. Large scale and even smaller scaled jewellers typically implement L1, L2, L3, clairty diamonds within their jewellery which are low quality. Along with that, many of them are lab created which means a very low resale value. So, in my opinion always stick to solid gold pieces regardless of purity.
2. The solid gold chain I hit from this specific franchise did not require any identification upon arrival. this could be either due to its price ($700), or the fact that it is quite a large franchise and the loss that they can take is quite insignificant. I presume smaller sized jewellers require more reassurance that it has been delivered accordingly and nothing is missing within the package to avoid losses.
3. My choice of SE was EB. The franchise I hit had zero proof of whether not the chain was in the box because they did not take pictures before shipment, furthermore they could not check the weight as the chain itself was too light to register on a postal scale.
4. Although they had no proof, they continued to push against a refund/replacment as they claimed to have alleged video evidence of an employee placing the jewellery box in the shipping parcel (also could not provide proof when asked).
5. I ended up winning the refund due to a bank charge-back which they ignored.
This is my personal experience, and although I was forced to do a chargeback I would still recommend a large scale jeweller as they will at some point give up.
RE: Reselling Jewels 💍 - EdenSlate - 09-13-2023
(09-13-2023, 05:54 AM)fasho1212 Wrote: So I have some personal experience hitting a franchise jewellery retailer myself. Here's some things I can provide in point formThanks man, grateful for your answer!
Did you end up keeping the items for yourself, or sold them?
- If sold, did the buying stores ask for ID?
- How much $ did you get from initial buying price?
I see all these gold buyback services IRL & online.
Would imagine they only offer some rate at gold's market price by weight (i.e. 60$/g).
Or do they account for the fine jewel's craftsmanship?
RE: Reselling Jewels 💍 - InternetRockStar - 09-13-2023
You should go for a gold in my opinion the resale value on diamonds is tough
Gold is easier to sell with or without ID
And shouldn't really matter anyways
RE: Reselling Jewels 💍 - EdenSlate - 09-13-2023
(09-13-2023, 07:08 PM)Juice WRLD Wrote: Gold is easier to sell with or without IDAight then, wont bother with diamonds. Thanks.
RE: Reselling Jewels 💍 - fasho1212 - 09-14-2023
(09-13-2023, 11:30 AM)EdenSlate Wrote:(09-13-2023, 05:54 AM)fasho1212 Wrote: So I have some personal experience hitting a franchise jewellery retailer myself. Here's some things I can provide in point formThanks man, grateful for your answer!
Did you end up keeping the items for yourself, or sold them?
- If sold, did the buying stores ask for ID?
- How much $ did you get from initial buying price?
I see all these gold buyback services IRL & online.
Would imagine they only offer some rate at gold's market price by weight (i.e. 60$/g).
Or do they account for the fine jewel's craftsmanship?
Great questions which I will answer. First things first the unfortunate reality of these large scale jewellers is that they heavily overprice their gold jewellery, I guess they base the price more on the design and craftsmanship rather then the weight and purity of gold. So the chain I purchased was $700 but in terms of weight/purity it was really worth more like $400 in scrap gold. So now thats cleared up I can get to the questions. Gold buy-backs almost always base off weight/purity not by craftsmanship.
1. I sold it locally on marketplace because I knew I would get around $350 if I went to a gold pawner. They consider it scrap gold right.
2. Ended up getting $500 when sold on local listing
RE: Reselling Jewels 💍 - EdenSlate - 09-14-2023
(09-14-2023, 05:41 AM)fasho1212 Wrote: 1. I sold it locally on marketplace because I knew I would get around $350 if I went to a gold pawner. They consider it scrap gold right.Pretty informative, thanks.
2. Ended up getting $500 when sold on local listing
Not the answer I wanted to hear, yet was to be expected : jewelry stores sell at a premium pawners wont pay for.