How do you answer this question (regarding selling jewelry)?

[Mreader]

I have occasionally gone to some jewelers to sell items when I have not had luck on LT. Twice I was really happy with the offer (one was more than what I had listed it for on LT!). I have recently done this again, and again, each jeweler always asks the same question "What are you hoping to get for this?" or something along those lines. I hate this question because while I might have a figure in mind, I don't want to say something too in line with what I want because they will probably go lower. There is a slight chance I might saw something that is lower than what they had in mind! How do you or would you answer this question, for those of you who have gone this route? In the past I just said something to the effect of "I don't know, I'm coming here to find out what I can get for it". Also is the motive for this question so that the customer might actually quote a figure lower than what the buyer might offer?

 

[YadaYadaYada]

There is a saying that the first to throw out a number in negotiations usually loses.

I never throw out the first number so when they ask how much I’m looking to get for it I reply with well that depends, how much are you willing to pay?

Always with a smile, think of it like a friendly game. Of course they are looking to make a profit so having a solid idea of a true value of the item is helpful. Worst case scenario is you can’t come to terms, best case they come back with a number higher than you were thinking.

 

[MillieLou]

They might be trying to see what they can get away with, but equally, it may be a tactful query to avoid offending you (general you). Many people have unrealistic expectations of what their jewellery is worth, based on inflated appraisals and conflating the retail and second-hand markets. If they could only offer 500 max, and you're looking for 5000, they could simply say they couldn't go that high rather than name a price that might hurt you or cause offence. The last thing they need is an angry online review of "thieving ****** offered me just 10% of the WRITTEN APPRAISAL of my GRANDMA's ANTIQUE RING"

I would reply with something along the lines of "I'm just looking for what I could get for it, so I can decide whether or not to hold onto it". This indicates you aren't desperate enough to be low-balled, but also that you won't be offended by an honest offer. I wouldn't name a price. Keep a poker face even if you're pleased with the price.

 

[Mreader]

Good advice from both of you And yes I suspected it's best not to name a number, which I have not done. It just always gets asked...

 

[pearlsngems]

IMO it's up to the seller to state their asking price.

However, I would do my homework first and get an idea of what similar items have sold for recently.

 

[Made in London]

I have always replied with "well, what would you offer me?" Never reply with a figure

 

[AllAboardTheBlingTrain]

I haven’t sold jewelry before, but I’d go in with a number or a range in mind; though I wouldn’t reveal the number unless pressed. I like MillieLou’s approach!