Life is not fair… Actually, I don’t think life cares.
Over 30 years in the second-hand business has taught me many things.
One of those strange lessons is that the more expensive the second-hand item is the bigger the saving.
You say…”It’s obvious”…the larger the spend, the bigger the dollar amount saved.
Actually there is even a much larger saving to be had. Yes the dollars are bigger BUT even more important…the percentage saving is much, much bigger.
Consider this. Something retails for $200 and lots of people desire it. It’s in great condition, near new, you really want it. How much are you going to pay? $150 or there abouts might seem reasonable. Notice…it’s cheap, affordable to MANY people who want it so a 25% saving might seem good value.
Consider this. Something retails for $20,000 and lots of people desire it. It’s in great condition, near new, you really want it. How much are you going to pay? Well the question boils down to, what can you afford to pay?
The fact is that the selling price of this item is most likely not going to be $15,000, a 25% saving, but a lot less because there are far less people competing for it, far far less who can afford such a luxury. In some circumstances it’s almost a buyers market.
My experience in the secondary market is that the more expensive the item, the lower the second-hand price relative to new. The biggest second-hand bargains are some of the most expensive.
Fair?..... C’est la vie
SEE MY OTHER GUIDES FOR OTHER INFORMATION ON JEWELLERY. Vote as appropriate.
© 2010 Edward Vabolis
The rich get richer, the poor...
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10 May 2010
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