MSNBC on Jewelry at Half-Price

[pricescope]

Pretty good article by Bob Sullivan: JEWELRY AT HALF-PRICE? WELL, KIND OF. Covers also different kinds of appraisals...

"We guarantee the retail value of all finished jewelry .... to appraise for double the purchase price"

Ask the store if they will give you $6,000 if you buy the ring for $3,000 and sell it back to them.... Their answer will reveal a lot about the guarantee.

You can also leave your comments/opinion on these issues there

 

[oldminer]

This an excellent article and the comments are very well balanced, too. I have seen many Jewelery Exchange items and have no problem with their guarantee. In the overall, it is a small chain which knows its market and has very good control on its cost of manufacture. It is not a luxurious set of stores, but there is human contact with enthusiastic sales people. It fills a niche in the market. I have appraised some of their items for "double" if left to do a regular insurance replacement report, but if a conversation with a client makes me aware that they are a discount shopper then the appraisal does not require a Tiffany mark-up. Then the double the price appraisal generally won''t work out.

Appraisers with less standing or experience can be apprehensive about confronting a customer or a chain of stores over a valuation. I don''t let it get to me and face the consequences on my appraisal work head on. In spite of words to the contrary or doubts people might get, it is very possible to save a ton of money if you become a knowledgeable and patient shopper. An opportunistic shopper can really get fine things for 1/2 or the regular price, but don''t expect it to just fall into your lap. You have to earn the bargain more often than not. A jeweler who you have no relationship with who suddenly becomes your long lost buddy and offers you a huge discount is not being nice or sincere. They are being a salesperson making the attempt to close another sale....Don''t be deceived by unexpected friendliness. It is salesmanship probably.

On balance, there are many firms actively selling jewelry and diamond who are truly honest and sincere. They offer good or great pricing to all their customers and hope to make a profit by doing large volumes of sales. Investigate and deal with people who genuinely hope to help you.