When buying fine jewelry it is imperative that one has a knowledge of understanding diamond appraisals. When you are buying diamonds and jewelry one can expect to receive an appraisal. If a consumer is buying wholesale one should expect your appraisal to be at least 30% over what you paid. For example, if a consumer paid $1000 for a necklace, one can expect your value to be at about 1300-1700. The more you spend the higher the value and percentage applied to an
The more you spend the higher the value and percentage applied to an appraisal. Therefore it is crucial that one has an know of understanding diamond appraisals.
Many consumers are often shocked and dismayed at what they are offered when they try to sell their diamonds and jewelry back to jewelers. Dealers typically offer half or maybe even less when buying back items. The price of the appraisal is what the item is worth. However, that does not translate into what you can sell for cash. In other words, you cannot expect to get what you paid for the item because you purchased the item, wore it and used it. Not only that, consider that when a jeweler is buying merchandise for stock many purchase large amounts of inventory at a considerable discount for cash prices.
What this means is your jeweler already has a large inventory, and they are likely not in need of making another purchase just because. Your jeweler is not your bank with unlimited funds; if you buy a $50,000 diamond and decide to return it on moments notice you should not realistically expect to be paid the same price as you purchased. Consider a business like a car dealership, you offer to sell your car for cash, you can expect to receive significantly less because the dealership owns several cars already and does not need the extra inventory. Furthermore, many jewelers are family operated business's that simply do not have the resources to make large purchases without considerable time to prepare.
When you buy jewelry it is an investment. It is especially a unique investment. One should consider that jewelry is one of the only products that appreciate tremendously over years. That is if it is nice quality merchandise. Rarely do the prices of diamonds go down. In the last 5 years since the economic meltdown of 2007 diamond prices went down twice and the prices raised several times following that. Jewelry is a safe investment, your appraisal value is valid for replacement purposes. Selling any used product warranties a significant discount when requesting a cash refund.
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Understanding Diamond Appraisals is important when buying fine jewelry