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TheConsignmentBarn
Posts: 55
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Posted: Thu Jan 25, 2007 10:38 am Post subject: Jewelry |
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A few days ago I took in three rings and a wristwatch on consignment. I brought all four pieces to a friend who is a jeweler and asked him if he could take a look at them when he had time and give me an idea of their value. It turns our that one ring (5 diamonds/4 rubies) is valued at $850.00, the second ring (emerald and diamond) $400.00, a very old white gold ring with diamond chips $400.00 and the watch at only $65.00. I am not afraid of handling expensive items, I've just never dealt with jewelery in this price range. Has anyone else sold jewelery of this nature? What can I expect? Any thought or advice would be appreciated. God Bless: Terry |
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Buytime
Posts: 516
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Posted: Thu Jan 25, 2007 11:27 am Post subject: |
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I can say, Make sure you cover yourself if you sell these online.
If you take Paypal, dont ship to an Unconfirmed Addresses.
If you take Check or Money Order, make sure you contact the Issuing bank to make sure the item is valid and the funds are available. And DO NOT Ship until the funds reach your account.
I would also ship it FedEx or UPS.
We have sold several High Dollar items on the internet over the last year without one problem.
Best Wishes
Kenny |
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TheConsignmentBarn
Posts: 55
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Posted: Thu Jan 25, 2007 12:54 pm Post subject: |
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Kenny, thank you for the excellent advice. I had been advised not to put expensive jewelery on feeBay because of all the scams. Not more than 10 minutes ago another person stopped by and dropped off a circa 1920, Tiger's Eye with two diamonds. The tigers eye had the bust of a Don Quixote type figure carved on it. This man's ring appraised in the $500.00 price range. I do hope I meet with some success in selling these items. Again, thank you and God Bless. Terry |
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zickit
Posts: 21857
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Posted: Thu Jan 25, 2007 2:16 pm Post subject: |
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Ok - educate me. BUT isn't an appraisal sort of like a book value - meaning that on the market you get about half of the appraisal. And then there is the question of whether you are providing a written appraisal of it's value and stone grades etc with the item and if that is an appraisal for the purpose of insuring or it's an apprasial for the purpose of the selling value. |
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TheConsignmentBarn
Posts: 55
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Posted: Thu Jan 25, 2007 3:40 pm Post subject: |
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Food for thought Big. Never thought to ask what the appraised value meant. I always assumed it was "Fair Market Value." As a seller I would think I should be more concerned with what the replacement cost would be for insurance purposes. As to how to price the item for sale, I have some thoughts but ultimately it will be up to the owner. Maybe Ken would have some ideas on how to price expensive jewelery. I hadn't planned on a written estimate simply because of the cost. Of course, if it means selling the item or losing the sale then a written estimate will be provided. Hopefully Ken can shed more light on this or maybe someone else has dealt with this type of item. |
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zickit
Posts: 21857
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Posted: Thu Jan 25, 2007 3:47 pm Post subject: |
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FYI - a written appraisal on jewelry cost anywhere for $40-$75 depending how detailed you want it. Insurance apprasial are always much higher then a fair market appraisal. |
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poopsheet
Posts: 4865
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Posted: Thu Jan 25, 2007 4:23 pm Post subject: |
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Buytime wrote: | If you take Paypal, dont ship to an Unconfirmed Addresses. |
And get Signature Confirmation for anything over $250. |
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eleganzajewels Guest
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Posted: Thu Jan 25, 2007 4:42 pm Post subject: |
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All excellent suggestions. If you're going to sell fine jewelry, you absolutely want to have a written appraisal, you can add the cost to the piece, or at least some of it, anyway. If you don't have it, you cannot expect to get a good price.
You also want to clearly define your return policies for fine jewelry especially. I would ask the jeweler who does the appraisal if they will mark it for you. Don't go to the mall jeweler, go to a family owned mom & pop store down on Main Street. They are your most reliable and valuable source, and most know what they are doing! In this day and age, they sure would love the business, too! The jewelry needs to be marked invisibly in case someone decides to try to switch a stone on you. You'll need good pictures, that mark and the written appraisal to recover if something happens.
The trick is to get them to mark it without letting them know you are going to sell it on the internet. No B&M jewelers are very happy with how much their businesses have been cut by internet jewelry sales in recent years. For heaven's sakes, though, ESPECIALLY do not say the word "Ebay" to them, they'll probably show you the door LOL!
As far as shipping, go all the way, you need trackable online insured delivery, with restricted signature required. Not trying to be a naysayer or anything but you have to follow a few more things to make sure the transaction goes smoothly.
I know some sellers mark their own jewelry, any ideas, guys? I don't mark mine, it's not worth the hassle, but then I sell fashion jewelry, big difference.
Good luck! |
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eleganzajewels Guest
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Posted: Thu Jan 25, 2007 4:51 pm Post subject: |
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Actually, why not let your jeweler friend do the appraisal? Tell him/her you don't want a UGL appraisal (not worth the paper they are written on), you want a GIA appraisal, it will make a difference. Maybe he/she will write the description for you.
Here is a link that will help you determine the CTW. I use it all the time for my customers, I only put MM in my listings, and they are always asking what the CTW is of my CZs. Many people can "eyeball" a gemstone for the carat weight (yes, it's actually a weight measurement, not a size, many people believe it's a size measurement) and get a rough idea of what the CTW will be on a natural diamond. This chart lets them use the MM in the listing to compare and get an accurate idea of what size CZ stone(s) they will be getting. (Cubic Zirconia is 75% heavier than natural diamonds).
Will help you in your listing, maybe! Scroll down, find the size measurement in the right cut of gemstone, then look across for the true CTW. Hope it helps!
http://www.interlap.com/czgems/czchart.htm
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TheConsignmentBarn
Posts: 55
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Posted: Thu Jan 25, 2007 5:13 pm Post subject: |
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Wow! I was just going to list the jewelery and see what happened. Didn't want to keep coming to the group with questions but I sure am glad I did. What an assett to the sight you all are. Maybe Dimi should consider putting some of you on the payroll. lolol
I don't anticipate handling much high end jewelery and depending on how this goes I may not handle anymore. Most of what I handle is stuff that would enventually end up in a yard sale or maybe at Goodwill.
Eleganza, you mention fashion jewelery. I've heard the term and also costume jewelery. Are those terms interchangeable or are they 2 different types of jewelery. I have some necklace/earring sets in my store right now. Some of it from the 50's/60's and some newer. If some time you have a chance could you take a look at the stuff, how I described it and the pricing and then give me some feedback? I have no idea if I am doing things right. Haven't had a sale either but figure that will come as more items are added and I start promoting better than I have been. If you don't have the time, I truly understand.
Thanks for all the good information and help. God Bless: Terry |
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eleganzajewels Guest
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Posted: Thu Jan 25, 2007 5:27 pm Post subject: |
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Hey, Terry! Yeah, it does sound like a lot of hoops to jump through, I know, but it's worth it. There are just as many (if not more) scammers out there buying as there are selling on Ebay And then people often see one thing in their mind, and another thing altogether when it arrives. With that much money on the line, it's good to cross the tee's and dot the i's
I will go over your site in a few, gotta run out the door. Overall, I think most people classify fashion jewelry as newer modern jewelry, and costume as more vintage jewelry (50's & 60's qualifies as costume). We may get some dissenting opinions on that LOL but I believe that's how most buyers see it, too.
Have simply a ton of good reference places to help you out if you need some help with pricing and descriptions. I LOVE da vintage jewelry most of all! You can scout around on Ruby Lane for price comparisons, but believe me, most of that stuff is wayyyy overpriced.
Don't be dissing the yard sales LMAO...I found a boootiful intaglio glass cameo necklace, darn thing was down to my knees almost, it was that long. Asked the lady, "how much?", and she let me have it for a dime hehehehe...sold it down the road on Ebay (which NEVER gets good pricing!) for $40
Another time, I was at a yard sale, saw a little box of odds and ends of jewlry pieces and beads set up high on a box, stuck my hand in, and FELT it...a natural pearl bracelet, absolutely stunning, set in 14K solid gold. Lady let me have it for fifty cents...I actually felt GUILTY and bought a bunch more useless stuff that I ended up throwing out LOL. I knew as soon as I felt the weight, I was on to something!
I'll be back later, will send you a PM shortly!
Linda |
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TheConsignmentBarn
Posts: 55
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Posted: Thu Jan 25, 2007 7:01 pm Post subject: |
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Great Linda ... Look forward to hearing from you ... My mother is a yard sale junkie so I don't think I will have any trouble getting her to watch for jewelry. Terry |
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