Guide to Buying Pre-owned Jewellery

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Buying pre owned jewellery is a great way to collect the unique, inspired, period and modern pieces of quality jewellery at a fraction of the price of brand new. It can be a very rewarding exercise and it can be very risky too!

Many years ago I worked in a jewellery retail store and was asked to value a clients chain. The client, a 20 something year old chippy dressed in King Gees and HiVis shirt had just come in from work. Out of his side pants pocket he pulls out a black pouch and carefully removes a shiny, beautiful and very heavy gold curb necklace. He was after a valuation so he could insurance it, he believed it was valuable because the guy at the pub who sold it to him said he paid over 5K wholesale for it. He was desperate to sell. He had just lost his pay on the pokies and needed the money to give his wife to pay bills.

Chippy ended up paying $800 cash for this solid 18ct gents curb chain. This chain weighed around 70 grams and would be valued at around $9500. Only problem, the chain wasn’t gold. It was a casted base metal chain with heavy gold plating, a good finish and stamped 750. Unfortunate for Chippy, he paid $800 for something worth around $50. He was not a happy chippy.

Here’s another story. Clients of mine like to visit pawn shops to find unique and modern 18ct gold and diamond jewellery. One time they purchased an 18ct gold, solitaire diamond ring for $1000 and I was asked to provide a valuation. Upon receiving the ring I noticed how grubby and stubborn it was to clean, but after a thorough clean and polish, the brilliance of the diamond was let loose and the spectrum of colours which this diamond displayed was amazing.

This ring featured a beautifully cut 0.80ct Fancy Shape Diamond, VS - SI clarity and E-F in colour. They paid $1000 for this beautiful ring and was valued at over $10,000.

So whats the best way to buy pre owned jewellery and avoid being ripped off?

1. DON’T BUY YOUR JEWELLERY FROM STRANGERS AT THE PUB, CLUB OR TAB etc.
2. SEEK PROFESSIONAL JEWELLERS ADVICE  BEFORE PURCHASE IF BUYING PRIVATELY
3. CHECK THE JEWELLERY IS FREE FROM DAMAGE AND FAULTS
4. TEST GOLD AND GEMSTONES FOR AUTHENTICITY
5. BUY FROM REPUTABLE JEWELLERS AND DEALERS

The benefits of buying pre owned jewellery from reputable jewellers like ben the jeweller is;

We check the jewellery is free from damage and faults; we test the metal for purity and gemstones for authenticity and grading. The jewellery is then carefully hand polished then ultrasonically cleaned to look new and fresh. Jewellery is then weighed, measured, priced and valued accordingly.

The sale price for pre-owned jewellery is usually much less than for brand new, mainly due to the labour costs involved in making a brand new piece, therefore the savings on pre-owned jewellery from labour costs alone can be huge. You could save up to 80% on valuation.

Buying pre owned jewellery is not only a great way to buy awesome jewellery at lower prices. In some small way I believe we’re helping the planet as well. 
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