Have you ever calculated how much gold jewelry is really worth? The price of gold can easily be found in almost any news source. From there, you're only a few calculations away from determining the current value of the gold contained in your gold jewelry.
The answer will probably astound you--by how low it is. How can a retail jeweler charge so much for gold jewelry when there's really not that much gold in it?
First, you have to remember that raw gold is only one part of the whole jewelry manufacturing and sales process. There are labor costs to get the gold out of the ground. The gold is then sold to jewelry manufacturers who must pay for labor costs to transform it into jewelry. Manufacturers then sell to wholesalers, jewelry wholesalers sell to retailers, and then retailers sell to you. At every point in the process prices are raised--sometimes a little, sometimes a lot. It depends on the costs involved and the profits desired at each step in the journey.
What if you could buy your gold jewelry earlier in the process instead of buying from a retailer at the end? Even backing up one step and buying wholesale gold jewelry could save you hundreds of dollars. When you buy from a retail jeweler, you're covering some of the most expensive costs.
A retail jeweler must maintain inventory, provide elegant surroundings and hire knowledgeable salespeople. It's all part of their business plan to make buying jewelry a pleasurable and unique experience for you. There's nothing evil or devious about this, but it does cost money.
If you want the one-on-one service and opulent surroundings, then by all means you should continue to purchase your gold from a retail jewelry. But if you can pass on some of the service and attention, then you should take a look at the options for purchasing wholesale gold jewelry.s
Buying wholesale gold jewelry online is a great way to save money. You should be aware that sometimes jewelry wholesalers require a minimum purchase. If you're planning to resell some or all of what you buy, this probably won't be a problem.
Even if you haven't considered it before, you might save enough buying wholesale gold jewelry that it wouldn't hurt to try selling some of it on eBay. Another option is to gather up a group of your friends and make one order from the jewelry wholesaler.
Online live jewelry auctions are another great way to save on gold jewelry and avoid the big markup by the retail jeweler. Auctions can offer some incredible wholesale gold jewelry bargains. One of the advantages of buying at a live jewelry auction is you can usually avoid requirements for minimum purchases.
Regardless of where you purchase your wholesale gold jewelry, never sacrifice quality for the sake of price. If you're buying for yourself, you'll soon regret buying a lower quality piece. And if you're buying to resell to others, you don't want to harm your long-term reputation for a short-term profit.
Start looking for gold jewelry wholesalers and compare their prices, shipping and terms. Spend some time observing live online jewelry auctions to see how they work and how the bidding process works. Then when you're ready to buy, you'll know what's going on. Considering how much you're likely to save, you'll probably never by from a retail jeweler again.