I don't understand the PS flipping rule...

[Dancing Fire]

I don't see anything wrong with a PSer buying a piece of jewelry and then flip it for a profit. I'd say more power to ya!.. b/c that is almost an impossible accomplishment with any kind of jewelry.

 

[Trekkie]

Doesn't bother me in the least bit either. People will only pay what an item is worth. If someone thinks they can buy for $100 and sell for $200, if the item isn't worth $200, no one will buy it.

Personally, I feel if someone takes the time to trawl eBay or craigslist or yard sales or whatever to find PS-worthy jewellery and then cleans it up and fixes it and takes good pictures and then lists it for sale with a comprehensive description, they should be rewarded for their effort.

I'd also rather pay a markup for knowing I'm buying from a trusted PS-er rather than some unknown on eBay.

 

[Siameseroo]

I think it makes sense given the various PS rules for trade members. If a member is buying jewellery and re-selling shortly after with the intention of making a profit, the distinction between trade and non-trade gets a little blurry!

A few months ago a member here purchased a gem from Precision Gem and listed it on PS and LT shortly after for DOUBLE the price. She has since opened up an etsy store. This raised serious alarm bells for me, because (perhaps incorrectly) my assumption is that most items listed on LT are good value, there are a lot of bargains to be had. Even though this seller has some nice stones, I would never purchase from her because of this.

I would always expect at least a small discount buying on the second hand market given that most purchases are non refundable and there is greater risk puchasing from a random person on the internet than from an established, reputable vendor. If people start flipping stones for a profit on LT on a regular basis, I can see myself viewing each listing with greater sceptism/ mistrust. I'd probably stop purchasing through the site but that's just me though! I guess I see the true value of the piece as the price the original, reputable vendor listed it for, NOT what a random collector/flipper decides to value it at a few months later. But then again, supply and demand right!

I think there is a difference where the seller can show that they have added value in the process. For instance, maybe they purchased a gemstone for a low price on eBay but then spent time/money authenticating the stone, taking photos etc.

 

[Loves Vintage]

Siameseroo - Interesting. Is the new etsy shop owner listed as a trade member now?

 

[Siameseroo]

Siameseroo - Interesting. Is the new etsy shop owner listed as a trade member now?

Yep! They've been very upfront about their trade designation since opening the store.

 

[Loves Vintage]

Siameseroo - Interesting. Is the new etsy shop owner listed as a trade member now?

Yep! They've been very upfront about their trade designation since opening the store.

Gotcha! Well, what you described with the Precision Gem stone is quite bold! And, I share your perspective. In most cases, I'd have no problem with flipping, if say, it's something that takes some effort to find, like going to estate sales, thrift stores, and then reselling on ebay or somewhere equivalent. But, to openly purchase a stone, that others were likely after, and to mark up so significantly and sell within a small community, seems a bit more . . . uh, unseemly, I guess is the word.

But, to each her own, I guess!

 

[telephone89]

I don't see an issue with flipping in general, but I respect PS rules not to advertise the sale on here.

 

[marymm]

I don't see an issue with flipping in general, but I respect PS rules not to advertise the sale on here.

This is my POV too.

 

[athenaworth]

Maybe I shouldn't chime in here since I'm now 'trade,' but I can understand PS's policy on flipping. I think that most PSers don't buy, post and then turn around and sell with the intention of flipping or making a profit but (in my opinion) I do believe there have been some PSers who have tried to elude the trade moniker and use their clout as a seasoned PSer to talk up their pieces in SMTB threads or the alike with the intention of reselling at a higher price. That being said, PS does a very good job of vetting and assuring someone is actually trade before giving them that status, so I do think they are aware that it's not just black and white.