Different Approaches to the Sale of Jewellery
It is known for a fact that jewellery, once it is off from the showroom floor, depreciates in its value. Therefore, if you are planning to sell your jewellery, then you should not expect the same amount as you have spent while buying it. Again, the hassles and time involved in such dealings often outweighs the amount that you receive in return of your valuables. You need to consider the various options available and think about the pros and cons before going ahead with such a transaction.
Fine jewellery is appraised for the sake of insurance at a retail replacement value. Earlier the calculations were carried out by a simple computation process as a majority of the jewellers operated on fixed rates for similar merchandise. At present, the retail environment has undergone a sea change as traditional jewellers try to increase their sales in the face of some stiff competition from ‘wholesale dealers’ as well as online stores.
If you need to sell the jewellery in real quick time, there are a few options to count on. You may also sell jewellery online after adequate research. You need to ensure that you are selling your valuables to an authentic online store and thus be careful about not been deceived by a fraud.
When it comes to selling your jewellery, the selling approach can be broadly divided into two categories- timed sales and immediate sales. Timed sales enable you to carefully study the market and get the most profitable deal rather than a hasty sale. The time that you get is spent in researching the market and in marketing the product. It also gives you the scope to carry on negotiations and you can exercise your discretion to determine whether you wish to accept or reject a particular offer.
Some people prefer to sell a piece of jewellery amongst a known circle or their acquaintances. Friends and others whom you meet at social gatherings who tend to appreciate or like your jewellery may turn out to be your potential customers. Since they already form a part of your known circle, you will find it easier talking to them. However, in that case, you run the risk of having to let go off the piece at a reduced price. On your part, you need to ask for an amount that is at par with the market price and does not appear to be an exorbitant rate to the potential buyer.
Immediate sales are possible when you have a buyer ready with the cash to make a suitable offer. They may even re-sell your jewellery in the future and may scrap the metal after the removal of any precious or semi-precious stones that are engraved on it. People opt for immediate sales when they need some quick money.
Pawnbrokers and pawnshops are willing to offer you quick cash in return for your valuable piece of jewellery. The gold thus acts as collateral and you can get your jewellery back after you have returned the amount. Thus, it is the best option for those who do not wish to sell off their precious piece of jewellery yet are willing to part with it for the time being to meet their immediate monetary needs.
Author Bio: Simon Corall is a financial expert. He states that gold is a priceless resource in the current market scenario and if you decide to sell your jewellery, then it can yield rich dividends.
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