YAJT: Different angle on selling jewelry privately...

[fulltilt39]

OK, here's the scoop:

I have a set of jewelry. I'm not going to say the exact amount, but it's not cheap. For the sake of this example, let's just say that in 2005, I paid $8,000 for it. That's what I PAID - retail. NOT the appraised or replacement value.

Here's what I can't figure out. When you get into the higher amounts and you're putting an ad somewhere, should you expect to get a certain % of the what you paid back? Or should you just be happy to get even half?

This guy is very interested in purchasing the set for about 60% of what I paid for it (for those of you that don't do math and want to know how that would compare to my example amount, it would be $4800).

I told him the lowest I could do was $5500.

So my question is - should I consider what he's willing to pay and consider myself lucky to be selling it? Or should I hold out for what I want?

Thanks

Krylon - NO :camera: unless you're interested in purchasing said jewelry. LOL (and I used amounts lower than actual)

 

[rbV5]

Jewelry is pretty much a scam, so I'd jump on 60%.

 

[Darwin333]

Is there any particular reason you are making up numbers instead of giving accurate details?

And in my limited experience selling jewelry 60% isn't bad. Depends on how bad you want/need to sell it. If I really wanted to get rid of it I would probably jump on it.

 

[fulltilt39]

Originally posted by: Darwin333
Is there any particular reason you are making up numbers instead of giving accurate details?

And in my limited experience selling jewelry 60% isn't bad. Depends on how bad you want/need to sell it. If I really wanted to get rid of it I would probably jump on it.

ummmm....cuz it's quite a bit more and i'd rather not say the amount.

i don't think the amounts really matter...

 

[xSauronx]

Originally posted by: rbV5
Jewelry is pretty much a scam, so I'd jump on 60%.

Originally posted by: fulltilt39


i don't think the amounts really matter...

you got that right. if you want to be sure, price it at a pawn shop or a jeweler and if you get offered more from an individual, id go with that

 

[Rumpltzer]

Are you selling person to person or through some third party who expects to resell it?

 

[tefleming]

Originally posted by: fulltilt39

Originally posted by: Darwin333
Is there any particular reason you are making up numbers instead of giving accurate details?

And in my limited experience selling jewelry 60% isn't bad. Depends on how bad you want/need to sell it. If I really wanted to get rid of it I would probably jump on it.

ummmm....cuz it's quite a bit more and i'd rather not say the amount.

i don't think the amounts really matter...

Challenge. The amounts very well could matter. The market for luxury items like jewelry are crazy - the higher the price you paid, the fewer possible buyers you're likely to find.

 

[fulltilt39]

Originally posted by: tefleming

Originally posted by: fulltilt39

Originally posted by: Darwin333
Is there any particular reason you are making up numbers instead of giving accurate details?

And in my limited experience selling jewelry 60% isn't bad. Depends on how bad you want/need to sell it. If I really wanted to get rid of it I would probably jump on it.

ummmm....cuz it's quite a bit more and i'd rather not say the amount.

i don't think the amounts really matter...

Challenge. The amounts very well could matter. The market for luxury items like jewelry are crazy - the higher the price you paid, the fewer possible buyers you're likely to find.

Actually, you're totally right. That's part of my problem in making this decision. I don't absolutely HAVE to have the $$, but I don't think there's a lot of people out there willing to spend this kind of cash on jewelry.

 

[Leros]

From what I've heard 60% is pretty good.

 

[Kntx]

Take the money. Learn lesson. Never buy jewelery from stores. Desperate people will sell it to you cheap.

 

[kranky]

Out of curiosity, do you have any idea how the potential buyer arrived at his offering price?

 

[AreaCode707]

I don't think you can have any expectation relative to what you paid; the only measurement that matters is what it's worth (e.g. what it appraises for.) You might have originally gotten it under appraisal value, or you may have drastically overpaid. Because of that I don't think you can set a rule that says, "expect to get 50% back of what you paid" because we don't know how good your original deal was, making that a moving target.

I'd shoot for 70+% of appraised value, if you can afford to wait.

 

[nanette1985]

If it's gold, the price of gold is really high right now, considerably more than it was in 2005. Check out one of those "top prices on gold" places and find out what they'll give you. Remembering that there are some people in the jewelry/gold racket that are less than fully honest, take that into consideration.

 

[ElFenix]

Originally posted by: princess ida
If it's gold, the price of gold is really high right now, considerably more than it was in 2005. Check out one of those "top prices on gold" places and find out what they'll give you. Remembering that there are some people in the jewelry/gold racket that are less than fully honest, take that into consideration.

cash4gold.com will low ball you with worse than pawn shop prices. then when you say no, they'll go up to just below pawn shop because they know you'd have to pay to ship it back.