July 24, 2009

Selling Your Gold…..Here’s The Details About What Goes On During and After You Sell Your Precious Metals

Posted by Jessica Kendrick, G.G. under Antique Jewelry, Buying Gold, Estate Jewelers, Gold Testing, Jewelry Sales, Platinum, Selling Gold, Sterling, Sterling Silver | Tags: , , , , , , , , , , , |
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february-09-041wordpressEveryone’s selling their gold for any number of reasons. One great reason is just to put a jingle in your pocket. Other less pleasant but very important reasons are for taxes, divorces, to make ends meet, or to put food on the table to name a few.

I was just out on a buy and was shopped by two consumer advocates. Don’t get me wrong, they have their place.  Consumer advocates have been able to get really good and well needed results from their endeavors.   But, if it’s done in a manner to be sensational and get the news out, it does no good for anyone and makes matters worse for everyone.  There’s more to the gold price than just the price.  As a general rule, very few understand everything that goes into giving a competitive precious metals price.

When you sit down in front of me, you are treated with the utmost respect and consideration. The same holds true for the other buyers that are out on the buy with me. This can’t be said for all companies out there buying your gold, silver, diamonds and such. Not always am I able to come to an agreeable price. When a good price for both doesn’t happen, then other alternatives are discussed to try to help you sell the item(s).

As an instance, a mother and daughter both came in together. The mother was coming in for a second time because I was able to make an offer on her diamond wedding set that no one had matched. We finished the transaction and began to discuss her daughter’s jewelry. It was taking an emotional toll on the daughter. I had explained that I understood her plight of going through a divorce. They are some of the most difficult things in life. Previously, I had told her mother that it had been necessary to sell everything, including family antiques, in order to make ends meet. The mother then told the daughter.

Tears welled in the daughter’s eyes and threatened to spill. I reached out to put a consoling hand on the daughters hands, explained that they were things, and that they didn’t define who or what I was. Also, that a jewelry buyer was only one of the means used to make my ends meet.   And, the same held true for her. The things she was trying to sell were just things. None of this would ever define who or what she was.

We were not able to able to come to an agreeable price but I was able to give her other alternatives in order to get her the cash that she needed. It was a very emotional time for the daughter.  She went away from the experience with a plan for herself.

There are many tales like this. No one ever hears them or about the sheer delight of getting more money than had been anticipated. Or asking someone what they want for an item and telling them, I’d like to pay you more than what you are asking. You get to hear all about the “bad boys and girls” of the business splashed across the media and about how much they ripped off John Q. Public. It’s sensational. It makes for great news.

You need to know that all 14kt gold or other karats of gold are NOT created equally. As a general rule when gold is purchased, melted and then refined, the gold that comes back from a 14kt lot is much LESS than 14kt. Yes, I did say LESS! The only way to combat that from a buyer’s standpoint is by testing with acids.

Acid testing is subjective to a certain point. If you have a ring that is stamped 14kt, as example, and it browns under a 14kt acid scratch test then it is less than 14kt. When you sit down in front of me, I test in front of you and explain what is being done so that you can feel secure in the testing procedure. Besides it’s YOUR gold and YOU need to know everything that is going on with regards to getting you the most for your sale. The acids that are used are 10kt., 14kt, and 18kt. That’s about all that any qualified buyer needs to have in their arsenal.

After the Buy, gold gets separated into its different karats. Often there is a 14kt stamp but the gold is UNDER karated or not even gold. There are soldered rings and chains, springs in the catches on those necklaces and generally 14kt is less than 14kt gold. It may be as low as 9kt. Each is smelted and refined. Then it’s tested to see what the karat is. It never, ever, ever comes out to 10kt, 14kt., or 18kt.!

How does this affect the bottom line for the company that I work for you ask? We MUST be making a killing, right? Well, if I am buying 14kt price and it comes in less than 14kt after the melt, then the buy price was too high. There are other things to take into consideration, my salary, my hotel and meals, my flight, the cost of the advertising, cost of a police officer for everyone’s protection, cost of the room, refiner charges, smelting charges, shipping, is the jewelry being held for a police hold (sometimes it’s held up to 30 days), etc. When you add everything up, it’s a pretty stiff price and not everyone is making a HUGE profit as was first thought.

Everyone buying from you has a certain market and all markets are different for the most part. Do your due diligence when shopping your gold. You have to. It means your money. But do know there are some really good people out there buying for a right and fair price from the public.

 

July 1, 2009

A Good Buy Can Cool Your Hot Summer Down With Turquoise And Sterling Silver

Posted by Jessica Kendrick, G.G. under About Jessica, American Indian, Antique and Estate Jewelry, Antique Jewelry, Estate Jewelers, Jessica Kendrick, Jewelry, Jewelry Sales, silver, Sterling, Sterling Silver, Summer, Turquoise | Tags: , , , , , , , , , |
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february-09-041wordpressTurquoise has been in style for quite a while and is currently gaining more popularity.  It comes in such a wide variety of blues and yes, greens.  It has been the valued gemstone choice of Kings and Queens of ancient times.  There’s nothing finer than Persian Turquoise for its beautiful Robin’s egg blue color.  And besides, it really looks great mounted in sterling silver and shown off by your summer tan.

American Turquoise is known by different mines, such as Sleeping Beauty, Ajax, Bisbee, Kingman, Lone Mountain, Pixie to name a few.  Each of the mines has its own defining characteristics and colors.  It comes from the U.S., India, Iran, Sinai, China, and Africa.  Some mines produce an olive green color with brown matrix, Robin’s egg blue without matrix or a deep blue with black matrix.  It just depends where it’s mined from.  The matrix is the veining that occurs in some of the gemstones.  Not all turquoise has it.

It is a very porous stone and turns color from the oils in your skin.  Natural turquoise is hardly ever found anymore.  Over time, the natural turquoise will gain a beautiful patina.  The turquoise seen in the market today is stabilized, treated and dyed.  Treatments range from soaking in tallow, epoxies, waxes, dyeing, or oiling.  Reconstituted turquoise is ground up into a powder, mixed with polymers, and then formed into the desired piece of jewelry.

When you think of turquoise, American Indian jewelry is the first to come to mind.  Each Indian tribe has it own unique style of jewelry.  The jewelry may be inlaid, natural pebbles that are bezel set, tumbled stones with drilled holes, heshi (tubes of turquoise that are strung together), small to tiny bezel set stones (needlepoint), or natural nuggets to name a few.

The 80’s craze for Indian jewelry is now what is generally being re-sold at the moment.  This has not held its value and you can get great bargains on it.  The much older 20’s-30’s-40’s jewelry has held value and especially so with particular jeweler signatures.  The very old jewelry and some Old Pawn (called such because it was pawned at a pawn shop) are in a class by their self.  China has gone into the Indian jewelry manufacture.  It contains some of the feel of the American Indian style of jewelry but not the heart.  This hasn’t held any value as far as re-sale value.  Currently the style is for a strong neon lime green dyed turquoise.  Any turquoise aficionado will generally not find this color attractive.

You can get some fabulous deals on American Indian jewelry at pawn shops or estate and antique dealers.  The more current the piece, the better the price will be for you.  Other retail outlets that specialize in American Indian jewelry are a good source too but you won’t get as good of a deal.  Rule of thumb: if you see something that you like, buy it.  Most of the time if you leave and come back to it later the item will have sold.

There isn’t any style worn that can’t be enhanced by turquoise.  It doesn’t mean that it has to be set in American Indian jewelry style.  You can find it in designs of Egyptian, Indian, modern jewelry to name a few. Tiffany and Cartier have used turquoise in some of their designs.  The Victorian’s were particularly fond of turquoise and set lots of it in their gold jewelry.

Turquoise has had an understated timelessness about it.  It is a good staple in your jewelry wardrobe.  You can wear it as an accent piece.  It will always get you noticed. Cool down that hot summer heat with a great deal on turquoise set in sterling silver.  It’s not just for western wear anymore!

 

June 8, 2009

It’s A Hot Summer…..Even Hotter Summer Jewelry Deals!

Posted by Jessica Kendrick, G.G. under About Jessica, Antique and Estate Jewelry, big diamonds, Cultured Pearls, Diamonds, Estate Jewelers, Jessica Kendrick G G, Jewelry, Jewelry Sales, Pearl, Platinum, silver, Sterling, Summer | Tags: , , , , , , , , , , |
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february-09-041wordpressIt’s June in South Texas and it’s HOT!  As it usually does, the weather goes from spring to Summer swelter immediately.  But what does that have to do with jewelry?  Quite a bit, actually.  Summer is usually a dead time for jewelers and is the worst time for their business.  But that means it’s a good time for YOU!  So crank up the a/c, hop in the car and do a little shopping for you, your loved one, or who ever else is on your jewelry list. 

From now till mid September, the jewelry business as a whole suffers.  Add the current economic situation into the mix and it really creates a train wreck for the local jewelers.  For you though, that equates to some serious wheeling and dealing.  Take a peek in your local shops, see what they have, make an offer on a piece and see what the jeweler offers back.  Make a real offer and not half of the price of the piece offer.  Markup’s are not what most people believe they are.  A little bit of something is better than a whole lot of nothing as far as profit is concerned. 

August is the prime time for your wheeling and dealing.  It’s is dead in August for jewelers.  I know of one jeweler that I worked for that suggested that they bowl in the showroom it was so dead.  That’s the time for you though. 

Your best deals will still be from your Mom and Pop family owned jewelers and from estate and antique dealers.  Any of the mall owned stores or chain jewelry companies will not work to get you the best prices.  They may work with you for a tiny bit but not much because of the restrictions of their home offices.  There are others that will provide you better deals and service to go along with your piece. 

You know who to buy from.  Now you need to know what to buy.  New jewelry has new pricing attached to it and there’s not a lot of room to move.  Antique and estate are where you get your best jewelry deals.  Antique jewelry has to be 100 years old or more.  Estate jewelry can be 15 minutes old but it’s pre-owned and less than 100 years old. 

When buying antiques, go to a reputable source that knows antiques.  Look at other pieces on line from the time period for a “like-ness” or theme.  No two antique pieces will ever be alike. Your best source will be a dealer that has been in the antique business for quite some time and has a good reputation in the community. 

Estate jewelry is a little wider open for you at the moment.  You can pick up some great deals whether you are looking for a big diamond, a Rolex watch, pearls, pins or brooches, cameos, or what ever strikes your fancy.  Graduated cultured pearls are not in style but offer one of the best buys for the person with a minimal budget.  Don’t hesitate to make an offer to an antique or an estate dealer. 

Ask what’s been in the case a long time.  There’s always something that’s been there a while and the jeweler would love to get out of the inventory.  Most of these pieces may be out of style at the moment.  Maybe you’ll love the piece.  Start your own style.  Buck the trends.  You can get a fantastic deal that way. 

If you can’t pay for it all at once, ask about a lay-a-way.  Again, because of the economic climate, that tried and true old way of getting a desired piece is making its way back into common business practice.  Discuss the details with the jeweler before embarking in this area.  You may pay closer to the retail price for this because the jeweler can’t use the money as they would from an immediate cash sale.  It’s a service worth paying a little extra for and it’s a great way for you to get a new piece for yourself, a loved one or for the clever shopper, an early Christmas present. 

Even though it’s hot, hot, hot outside, you now know about the deals you can have for a piece of jewelry, where to find them, and who to buy it from.  That should make you feel cool as a cucumber with a hot deal in one hand and still keeping some of your hard earned cold cash in the other!

 

May 27, 2009

GOLD’S UP!! And It’s A Golden Opportunity To Bring Cash To YOU!

Posted by Jessica Kendrick, G.G. under About Jessica, Antique and Estate Jewelry, Buying Gold, Estate Jewelers, Gold Testing, Host a Gold Party, Jessica Kendrick, Jessica Kendrick G G, Jewelry, Jewelry Sales, Platinum, Selling Gold, silver, Sterling | Tags: , , , , , , , , , , , |
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february-09-041wordpressThe Gold Party is over and I have to let you know it was very successful.  People went home quite surprised by the amount of CASH their gold brought them.  I am going to be planning another one very shortly. 

A great time was had by all.  There was a little wine, a little cheese, some great laughter, a very nice evening, and quite a few ooh’s and ah’s when it came down to weighing the gold and handing out the cash.  It was fascinating to see how much a little pile of 10kt., 14kt., or 18kt. added up to a significant amount of cash. There were some great big smiles on people’s faces. 

You won’t be pressured into selling at my gold party.  In fact, everyone wanted to go home and dig a little deeper in their jewelry boxes.  Unfortunately we were limited on time.  But I am now working with a few people to purchase their precious metals on an individual basis.  This could also work for you, if you prefer a little more privacy about selling your gold. 

What To Bring?
Bring anything and everything that you think that you want to sell, even if you aren’t sure what it is.  Don’t worry if it’s clean or if you’re not sure it’s even gold.  I will test it to be sure.  Bring single earrings, broken jewelry, gold teeth, outdated jewelry that you don’t like, old settings that have the stones out or anything that you can dig out of your jewelry box.   Bring gold, platinum and silver.  You will receive cash for all of it.

I can advise you whether to keep it or not, and tell you what it is if it’s a unique or antique item.  I can also advise you where to go to get your best price if the item is too special to be sold at a gold party for scrap. I’ve taken numerous items “on memorandum” — a type of jeweler’s loan — and sold them for clients to help get the best price because some estate pieces will bring more money than if they were simply melted.  I make a few calls to see where the pricing is in the industry and make an offer to you. 

How are Gold and Other Metals Priced? 
Rates are based on the current precious metals market for that individual day.  As an example: Gold is currently around $950.00 per ounce.  This is for bullion 100% pure gold — or 24 karat.  The gold that you’ll bring in is less than 24 karat.  But remember, your 14 karat herringbone necklace is gold combined with another metal, so the weight of your necklace is not a solid weight in pure gold so you’ll be paid on the actual amount of gold in your necklace. 

What Should You NOT Sell?
Sometimes there are some things you should just keep.  When I see something important that I think you should hold on to and take home with you, I’ll tell you.  I’ll, also, tell you if a piece should go to an auction house such as Christie’s or Sotheby’s or if you have a rare item that would only grow in value for you, for example.  You can then judge whether or not it’s in your interest to sell it.  Good jewelers and gemologists will always advise on whether you should hold on to a piece or if the cash is the better option.

It was a great party and I look forward to more.  Gold’s up!  Why not take advantage?  When’s that last time you went to a party, had fun, drank a little wine and made money????  Never! Dig deep in your jewelry box.  Take advantage of the “stuff” that’s just lying around moldering and make you some CASH!

 

May 12, 2009

Call Me To Host A Gold Party!

Posted by Jessica Kendrick, G.G. under About Jessica, Antique and Estate Jewelry, Buying Gold, Estate Jewelers, Gold Testing, Host a Gold Party, Jessica Kendrick, Jessica Kendrick G G, Jewelry, Jewelry Sales, Platinum, Selling Gold, silver | Tags: , , , , , , , , , , , , |
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february-09-041wordpress

Have been thinking about hosting your own gold party?  Let me help you understand how they work — and how you get paid.
 
Gold parties, by definition, are a small gathering of people who want to sell their old jewelry and have a fun evening while they make money.  The hostess typically recieves a commission on sales and the guests receive payment for their old, unwanted jewelry.  Guests mingle and drink wine and eat snacks and appetizers while the buyer weighs and pays an individual guest for their old gold.  It’s simple, fun, and makes you some cash from the bottom of your jewelry box!

What To Bring?
Bring anything and everything that you think that you want to sell, even if you aren’t sure what it is.  Don’t worry if it’s clean.  Bring single earrings, broken jewelry, gold teeth, outdated jewelry that you don’t like, old settings that have the stones out or anything that you can dig out of your jewelry box. 

I can advise you whether to keep it or not, and tell you what it is if it’s a unique or antique item.  I can also advise you where to go to get your best price if the item is too special to be sold at a gold party for scrap. I’ve taken items “on memorandum” — a type of jeweler’s loan — and sold them for clients to help get the best price because some estate pieces will bring more money than if they were simply melted.  A price is agreed upon at the point of memorandum.  This is most commonly done when the item is an old, unique, or special piece of jewelry. 

How Are You Paid? 
The price is based off of current gold value and is paid to you then and there at the gold party.  You leave with cash in hand — and you leave with a lot more than you would get from a mail-in or TV gold-buying service — when you sell to me.  

How are Gold and Other Metals Priced? 
Rates are based on the current precious metals market for that individual day.  As an example: Gold is currently around $900.00 per ounce.  This is for bullion 100% pure gold — or 24 karat.  The gold that you’ll bring in is less than 24 karat.  But remember, your 14 karat herringbone necklace is gold combined with another metal, so the weight of your necklace is not a solid weight in pure gold so you’ll be paid on the actual amount of gold in your necklace. 

What Should You NOT Sell?
Sometimes there are some things you should just keep.  When I see something important that I think you should hold on to, I’ll tell you.  I’ll tell you if a piece should go to an auction house such as Christie’s or Sotheby’s or if you have a rare item that would only grow in value for you, for example.  You will then be able to judge whether or not it’s in your interest to sell it.  Good jewelers will always advise on whether you should hold on to a piece or if the cash is the better option.

How Gold Parties Work?
There are services that you can contract with online but these usually don’t pay very well.  A gold party is a great idea, but you want to get the most for your gold.  That’s why an independent buyer, like me, will usually pay you the most — and pay you in CASH.  Rather than making your guests wait on a “check in the mail” (and who likes that?), I’ll pay on the spot and give you a better price than a service with high overhead and excess fees.

Why Sell to Me? 
I am a Graduate Gemologist from the Gemological Institute of America (GIA) and have been for 20+ years. The GIA is the most recognized governing body in the world for jewelers.  I have been in numerous fields within the jewelry industry in a career that spans 25+ years.  My specialty is buying jewelry.  I have been a buyer since 1989 working in New York with the big auction houses (Christie’s and Sotheby’s), on the road for buying shows, and as an in-house buyer for different jewelry companies. 

My knowledge base is extensive and my expertise is a rare and valuable commodity within the jewelry industry.   I am currently a contract buyer  and am a sought-out expert for fine metals buying and for my extensive knowledge of gemstones, antique and rare jewelry pieces, and fine estate jewelry.

 

HOST YOUR OWN GOLD PARTY — AND MAKE EVEN MORE MONEY!

Not only will you be able to help your friends leave with cash in hand, but when you host your own gold party you’ll also recieve a bonus commission off the total sales for the evening!  I pay a commission to the hostess.  You’d be amazed what dusty old jewelry adds up to! 

MORE REASONS TO HOST A GOLD PARTY

– Donate proceeds to your church (and get a tax deduction)
– Donate proceeds to your favorite charity — and deduct your donation from taxes
– Hold a gold party as a fundraiser for a local cause, friend, or as a benefit fundraiser
– To meet new friends
– To clear your jewelry box out of your past marriages, old boyfriends, and unhappy memories
– Clear clutter and to get rid of stuff you just don’t like

Gold parties are fun way to give you “found money” that you didn’t know that you had.  Everyone needs a little cash now.  Selling your gold at my party is easy (cash on the spot), safe (it’s with people only you invite), and fun (hey, you’re with friends and have wine!).  Go dig around in your old jewelry box, old hat box or glove box, and rummage around in the garage for that old silver you have too.  Bring all of your scrap gold, silver or platinum in for CASH.  Ladies and gentlemen, cash is GOOD.  Let’s get you some!

 

PS If you live in Texas, I’ll help you host your own gold party!  Do you live close to Victoria, Texas?  Email me, I am hosting a Gold Party Wednesday May 20th!

 

May 5, 2009

Buy Pearls!…..They’re CHEAP!!

Posted by Jessica Kendrick, G.G. under About Jessica, Antique and Estate Jewelry, Cultured Pearls, Estate Jewelers, Hong Kong, Jade Market, Jessica Kendrick, Jessica Kendrick G G, Jewelry, Pearl | Tags: , , , , , , , , , , , , |
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february-09-041wordpressThis is another attention calling moment for you to purchase because there are fantastic deals on pearls.  I keep saying this’s a good deal, that’s a good deal.  It seems I am almost chanting a mantra.  Well, simply, there are some really good deals out there that people just don’t know about. If you have a little bit of cash in your hand, you can get a steal!….legally that is.

 

I was just in Hong Kong.  Fabulous trip and I would recommend it to anyone.  The locals were generous, kind, engaging and helpful.  There were several markets to go to.  Some markets were ok, some not and then there was the Jade Market.  It was jade heaven on earth.  But what does the Jade Market have to do with pearls?  Well, lots.  There were lots and lots and lots of pearls.

 

Pearls have been steadily going down, down, down.  I don’t even buy them when I am out on the road for a buy show, except for myself.  Pearls don’t re-sell well unless they’re South Sea or very large fine pearls.  To give you two examples, I bought one strand of very large coin pearls for $100 Hong Kong Dollars.  That translates to $12.99 U.S.!  The second necklace was a triple strand of coin pearls about the size of a nickel also for $100 Hong Kong Dollars.  Again $12.99 U.S.!  I can remember looking for similar pearls in the mid ‘80’s and they were going for OVER $1000.00 U.S. wholesale for unstrung 16” strands.

 

How do you get this price in the U.S.?  Well there are ways to do it.  Go to bead shops, estate dealers, and on line.  Don’t be put off if you don’t like the clasp.  It can always be changed and re-strung.  It’s the necklace that’s the deal.  I’ve even been able to purchase pearls at retail outlets that are cheaper than I can buy from a wholesaler!

 

When looking for pearls, look for a thickness in nacre (the covering of the pearl) and as blemish free as possible.  There are varying shapes, sizes, blemish categories and configurations of pearls.  Sometimes the blemishing makes the strand wholly unique.  I have bought strands for the very reason of their texture.  But what hasn’t been sacrificed is the thickness of the nacre.

 

Let me speak to that fact for a moment.  All pearls out on the market are cultured.  Meaning:  there is a nucleus (bead) that the oyster, mussel or clam secrets the nacre around.  If there is no nucleus, the pearl is considered a natural or oriental pearl and the price is driven up considerably by that fact.  Some pearls are only left in the shell for a very short period and you can see the underlying striations of the nucleus bead.  These are just ugly.  The longer the pearl is left in the shell, the thicker the nacre gets.

 

The next item to look for in a good pearl is luster.  It’s the shine or sheen that the pearl has.  Does it look dull like an emery board or flat milky in spots?  Ideally, you want pearls that look like a shiny ball bearing.  More often than not, you can find pearls that aren’t quite shiny but are close. 

 

There is nothing like the cool klink, klink, klink of a strand of pearls that runs through your fingers.  And there is very little that is lovelier than pearls on a woman’s skin.  Pearls make a woman’s skin glow like no other gem.  Diamonds may be a girl’s best friend but pearls are for every girl, are must in every wardrobe, and are in every girl’s budget……especially now!

Jessica recommends in Hong Kong:

 

Green Leaf Gift Shop (Jade)

 Contact:  Agnes Leung

Store No 10, 34 & 36 Kansu Street

Yau Ma Tei Jade Market

Kowloon, Hong Kong

Email:  agnes6@gmail.com

 

Jade – Wholesale & Retail

Contact:  Angus Lam

Store No. 19, Kansu Street

Yau Ma Tei Jade Market

Kowloon, Hong Kong

Email:  seattle_angus@yahoo.com

 

April 21, 2009

Diamond Prices Continue To Fall Like A ROCK!!

Posted by Jessica Kendrick, G.G. under Antique and Estate Jewelry, big diamonds, Diamond Sales, Diamonds, Jewelry, Jewelry Sales | Tags: , , , , , , , , , , , |
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february-09-041wordpressMy last blog title was “Diamonds are Down in Price……EVEN FURTHER!” but diamond prices are at a record low now.  It’s now making headline news on TV.  When was the last time anyone has heard of DeBeers closing a mine….let alone 2?!  This just happens to be a first.  There is a huge glut of diamonds in the world wide market.  If you ever wondered if we are in a global economy, this is your supreme example of it and wonder no more. 

 

DeBeers is a boy big and can afford to take the hit.  The unfortunate situation is that the employees of DeBeers, cutters, site holders, diamond dealers, finished wholesale goods, and your local Mom and Pop and estate dealers are hit the hardest.  The ripple effect is gigantic and it affects everyone everywhere down to the local people in your community like the waitress that is waiting tables for tips.  

 

How does this help you as a retail customer?  It is the BEST, I repeat, the BEST time to buy a diamond.  Some diamonds are reported to be up to 60% off of the Rapaport Diamond Report list price.  Imagine getting 60% off of the Kelly Blue Book for that favorite recent loaded model of a boss Mustang.  You’d think seriously about buying that wouldn’t you?  It all adds up to an extremely profitable situation for the retail consumer.  When was the last time the retail consumer got such a deal in the diamond industry?  Never!  BUY, BUY, BUY is all I can say.  And hurry up cause it’s not going to last!

 

My first word of caution has always and will always be not to sacrifice color, clarity, make, proportions, fluorescence and thickness of girdle just for carat size.  You have to have it all.  Otherwise, it’s just a bad buy.  A sizeable bad buy now will be forever a bad buy.  Diamonds are not an investment.  But in this market you might just be able to make a truly lucky score.

 

Go for the diamond shapes that are NOT in style.  You really can get a sizeable piece of ice for your finger, neck, ears or where ever you want to put it. The shapes least favored are Marquise, Heart, Pear, Emerald and then comes all the funky recent fancy cuts like Tycoons and Hearts and Arrows.  Stay with the traditional cuts and you will be safer.  

 

If your local jeweler or estate dealer has a diamond in for you in memo (short for memorandum – on loan) then the price is usually set.  Know that you can always ask for a discount and the jeweler may go back to the diamond dealer to get a bit of a discount.  Everyone is asking for discounts now.  It never hurts and all that they can say is no.  They may not have any wiggle room on the price.  A little bit of something to a jeweler is better than a whole lot of nothing.  If it was a diamond that was able to be purchased straight out from a private then there may be some real room to negotiate.  The jeweler may tell you straight out or they may not.

 

Put your shopping hat on, get out there, and go buy a diamond.  It’s a fantastic time to buy for the retail consumer.  And believe it or not your buy will eke it’s way into the economy and help everyone out.  After all, you, the consumer, are the humble beginnings of the world wide global economy.  So start the ripple effect, do a good deed, and get your self a bonus of a big honker diamond!

 

PS I am leaving for Hong Kong early in the a.m.  I will be writing about the pearl market.  Pearls are another great deal right now.  Next blog, you will know how to buy pearls for deep discounts.  Pearls are for any and EVERY girl.

 

March 10, 2009

Buy Big Diamonds – The Market’s Down

Posted by Jessica Kendrick, G.G. under About Jessica, Antique and Estate Jewelry, Buying Gold, Diamonds, Jewelry, Selling Gold | Tags: , , , , , , , , , , |
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 february-09-041wordpressRight now we have a volatile financial market.  Should we hide money in the mattress like our grandparents and great grandparents did?  Is there going to be a run on the banks with so many failing?  You can’t put your money in stocks or gold either.  But now is the BEST time to invest in large diamonds – especially large stones from 1.5 carats and up. 

 

 

Have you heard of the story about a gentleman during the Great Depression that hocked everything that he owned to buy land and came out a very, very rich man once it was over?  We are close to the same position as the Great Depression. 

 

In recent times when the stock market dropped down to dangerous levels, everyone who had money invested in large diamonds instead of the stock market.   Now, no one is investing in diamonds.  Currently, the diamond market is dropping.  Rapaport Diamond Sheet, the “Kelly Blue Book” and jewelry industry pricing guide for diamonds, has dropped prices on diamonds because no one is buying larger diamonds in the current recessionary market. 

 

 

Buy Diamonds here. There are several places to go to buy a diamond.  Your best deals are going to be the ones that you have to work for.  Do your homework, shop, compare and do your homework again.  Look online too.  Blue Nile.com and Amazon.com have good online reputations.  Estate and second hand dealers are going to give the best prices.  They usually sell their merchandise quicker.  Therefore, the savings can be greater. 

 

Certified is best. If you can, get a GIA (Gemological Institute of America) certified diamond.   Do know that you will pay a bit more for a GIA certified diamond but the information contained in current certificates is rarely disputed.  Or, have a reliable GIA Graduate Gemologist and/or jewelry professional that you trust in your corner to counsel you about your purchase and make sure the certificate or other information you have received are one and the same.  If the diamond does not correlate exactly to the certificate or the information given to you from the Seller, make sure that you can return the diamond.  Be careful and check the return policy before you plunk down your hard earned cash. 

 

  A jewelry professional that is not employed by the Seller is your safety net.  Gemological services come with a price and possibly less of a price for verbal services.  

 

Shape is an important factor.  Round is the best shape to purchase as it always trades well. Currently, Princess cuts are in fashion.  Marquis and heart shaped cuts are trading with deep discounts.  Know that all fancy shapes go through trends with the exception of round.  Round is the shape that is always in fashion.  The Rapaport Diamond Report devotes a pricing sheet specifically to round diamonds. 

 

What size to buy? Buy a minimum of a 1.00ct.  2.00cts. is better.  Bigger is better.  But do not sacrifice color, clarity, make, proportions and fluorescence just to get a big diamond.  As an example, you would be best to buy a 1.00ct., G color, VS2 clarity, Good make and proportions with faint blue fluorescence rather than buy a 2.50ct., K color, I1 clarity, poor make and proportions and strong yellow fluorescence.  Go smaller and keep all of the best colors, clarities, makes, proportions and fluorescence that you can.  Just don’t go under 1.00ct.  When you buy the best, it will provide you the best cash in hand later.  

 

Tempus fugit.  Know this market is fleeting and the sale won’t be a quick flip.  If I had a crystal ball to tell you when market would end and when for you to sell, I would be a very rich woman.  But just like anything else, it’s timing and NOW is the time!  Buy and buy big! 

 

 

Disclaimer:  This is an opinion of a Graduate Gemologist.  Use your best judgment.  It is your responsibility of due diligence for your purchase and/or purchases.

 

 

 

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