selling jewelry

12:07 PM Tuesday, March 04, 2008

I'm not sure if it is the same abroad but pawnshops and watch buyers are like 7-11s here, you are sure to see at least one wherever you go. I'm also not sure if it is a cultural or universal thing, an expected mode of behavior for those who find themselves cash-strapped.

Jewelry buyers also haunt offices, or at least they did where I used to work. I guess it is because of the fact that people usually invest in jewelries when they have money, knowing that it can easily be pawned or sold in times of need.

Ever wondered why gold prices suddenly fall around enrollment times or Holidays? The reason is that parents are likely to have sold precious pieces to finance tuition fees and have more money to buy gifts or necessary appliances.

And after Holidays, gold is likely to cost more because jewelries are hot items to give to the people we truly love and cherish (mostly, wives and mothers).

When selling jewelries, I believe heirloom pieces might get higher offers, and of course there is quality of the gold (or karats) considered and if the piece/pieces contains gems, whether semi-precious stones or really precious stones. Diamonds will certainly appeal to diamond buyers, most specially those that have really intricate cuts and clarity.

Pawnshop commercials would often remind you of what ancestors must have probably done to sustain the family, with jewelries wrapped in white hankerchiefs and sad expressions over jewelry that was dreamt to be handed over from generation to generation, a supposed tangible inheritance. But we do what we have to do, just as they did what must be done.

(aside: The famous Monique Lhuillier came from a clan of jewelry buyers in Cebu)

When pawning stuff, I think one is given a certain amount of days to repay the loan made using the jewelry as collateral. If you don't pay in time, you lose the jewelry. But some opt to just sell them, maybe needing a bigger amount of cash or knowing they wouldn't be able to afford to get the piece back anyway.

Some also go to consignees because jewelry consignment is a booming business now, and offers are closer to your jewelries actual value. They in turn aggressively market the pieces after improving it some.

However way jewelry is sold, the important thing is that it really is a good investment, a really great fallback in times of need.


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