Frequently Asked Questions

Question: I have found a way to purchase quality jewelry at a wholesale price. It comes with an appraisal, and is certified. For example, my first purchase was a genuine sapphire and diamond necklace and earrings set appraised with a retail value of $3,150. I purchased the set for $219.80. I am interested in selling the set for profit. It's going to come in the box, brand new. My question is, for an item already appraised, about how much should I price this? I have a friend who is studying to be a gemologist, who says for this particular set I could probably get around $1500. She said for the most part, if you price it for about half of the retail value, youll probably get it. Does that sound about right?

Answer: I've now been in the business for 40 years. And, I can tell you this. You cannot buy a $3100 piece of jewelry for $219.80. If you could, people like me would have retired years ago! The normal "wholesale" price for an item that sells for $3100 is approximately half! So, what you paid would be approx. 80% below wholesale. Wish I could by for 80% below wholesale...

As to your friend who is studying to be a gemologist.... A gemologist studies the identification and communication of Gemstones. He/she will have NO education whatsoever, about pricing in any given area after studying gemology! One must study appraising to learn values. Making a blanket statement that you "could probably get around $1500" is fictional at best.

I'm 99.9% sure that the appraisal of the item for $3100 on the item you paid $219 for is bogus. One of what I call "I love you" appraisals, written by some unqualified, unscrupulous person who is being paid by the seller.

Please... Jewelry and gemstones of ANY kind (except those purchased for very high prices), are a terrible investment. If you want to make money... buy land!