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ixChris

Acutions On Ebay

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Hello,

I'm new in this "Dimond world" I would really like to know a lot more about this..

For some days I have been watching auctions on ebay with jewelry..

I have bought a 18karat white gold ring with a topaz.. Like this one:

http://www.icollector.com/Natural-2-CTW-Sky-Blue-Topaz-Halo-Diamond-Micro-Ring-Solitaire-Bridal-18K-White-Gold-21623-REF-_i24347191

I have bought if for 720Dollers.. The "Retail Replacement Value" says around 3,000$ so I hope to sell it for more when it comes to Denmark.. Is it even possible? Is it possible to make money by buying jewelry from Ebay auctions and resell it in Denmark on a new auction maybe..

 

Greetings from a newbie!  ^_^

Edited by ixChris

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It's possible to make money doing just about anything, and buying and selling jewelry is certainly no exception.  I know hundreds of people who do it successfully every day.  They're called jewelers.  Can YOU do it?  Maybe.  It's harder than it looks, like most things, and the success or failure is going to have more to do with you than the merchandise.  I certainly wish you the best of luck with it. 

An opinion by a stranger about what it would cost at full undiscounted retail price to custom make a replacement in an unspecified store on the other side of the world may not be a very useful piece of information, even if it's somehow correct.  I guess that depends on your buyer and your selling strategy.  That doesn't work very well over here but I don't know the Danish marketplace at all.  It seems unlikely.  

Edited by denverappraiser
  • Like 1

Neil Beaty

GG(GIA) ICGA(AGS) NAJA

 

There's never a crowd when you go that extra mile.

Professional Appraisals in Denver

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Many things are possible; some however are less likely than others. You are making 2 false assumptions:

 

1. That the "retail replacement value" is correct in the first place. Since you bought from a retailer, do you really believe that it the item were worth $3000 (i.e. he could sell it for that), he would let you have it for 1/4 of its value? Yes, it could happen (distress sale, mistake and all that) - but if the same (or even another) vendor is there again with another fantastic yet very similar bargain "worth $4600" on sale at $520, the likely explanation is that the items are not worth the quoted "value"

 

2. That the "retail replacement value" from a US vendor applies to you as a vendor in another transaction (I presume that the ring you linked is from the same vendor as yours; in any case, the reasoning applies no matter where you and the vendor are located).

 

By your own admission, you are a newcomer to the jewellery world, presumably you are not otherwise a retailer, and prices in Denmark are different from prices in California (that were supposedly used to make up the RRV estimate). The location may play for or against you, but surely you realise that the price you can ask as a private individual without a reputation is not the same of that a highly reputable and experienced retailer of luxury goods... or even an experienced scammer.

 

All of this is without considering whether you bought something that is described fairly and seen as desirable in your proposed marketplace.

 

FWIW, a different estimate of the value of the ring you posted is the scrap value. Gold trades around $1250/ tr.Oz. In an 18k ring of 5 grams there are 3.75 g of fine gold, worth about $135 at best scrap prices. A 1.75 blue topaz is worth $10/carat retail , and actually zero for scrap, but let's be kind and let's price it $10. 0.20 ct of 1 pointers (diamonds weighing 0.01 ct each) is also unsalable unless the meleé is graded by a reputable trader and you can supply it regularly (which is not quite your situation), so zero, but let's say $5 out of kindness again. Total scrap: $135 + 10 + 5 = 150. Someone paid $520 for it, and there's plenty more available: nearly 40,000 on eBay right now, at prices going from $0.90 (probably not real gold and diamonds - see above) to $14k. Even eliminating the "guaranteed fake" things priced less than $150 leaves over 30,000 listing, of which 16,000 above the break-even price of $520 (plus tax? plus shipping?). Chances of resale with a profit? Mathematically very small, practically zero. Chances of resale of something similar purchased for $200 more? Mathematically even smaller, practically still zero.

Edited by davidelevi
  • Like 1

Davide - Specialised Consumer Information and Assistance,
Diamonds by Lauren (http://www.diamondsbylauren.com)
davide@diamondsbylauren.com

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Thanks a lot of your replies! I have a lot to think about now, I see..

Do you have any tips to get started as a Jeweler? and where to get started? 

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Pay attention to how you plan to sell.  Buying is easy.  Selling is hard.  There are lots of approaches and it varies from one jeweler to the next.  There's no right answer that works for everyone.  Look around at your competitors.  Consider who your customers will be, what they'll be looking for and how they'll be looking.  The 'easy' paths, like Craigslist, etsy, and eBay, don't generally work all that well but even those have success stories.  It's a funny thing, successful eBayers work hard at it.  They take good pictures.  They write good descriptions,  They offer excellent terms.  They ship quickly, they answer contacts quickly, they process returns quickly, and they generally treat their customers well.  They advertise, and they have well designed websites.  Hmm.  That's just about the same list as any other successful merchant, both online and on the street.
 

If you've got a good sales channel, you'll find suppliers beating a path to your door.  That's what THEY are looking for after all.

Edited by denverappraiser

Neil Beaty

GG(GIA) ICGA(AGS) NAJA

 

There's never a crowd when you go that extra mile.

Professional Appraisals in Denver

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