As a child I suffered from many delusions, but we won’t start listing them out, although one of them is very pertinent to this article in that from the time I was 5, my favorite color was ‘clear.’ Clear…you ask? Yes, clear, it was the color of diamonds. Barbie was always decked out in the latest bling, and thus began my love and pursuit of shiny things.
Jewelry are like cars?…
Yes, in fact they are, not that you’d be able to drive your engagement ring around or anything.
Jewelry, computers and cars are all alike in the fact that once you purchase them at that oh-so-pretty new and very shiny price — the minute you step out of the jewelry store, the (resale) value drops instantly. Not that this is depressing in any way, you’ve also left the store with something that sparkles, but it begs the question – why go to a jewelry store…?
There are the obvious reasons, like for example warranties. This definitely a perk when you are considering a substantial piece of jewelry, such as engagement and wedding sets. The warranties will usually cover the upkeep of the piece (polishing, plating, prongs) and more importantly will cover the loss of a stone. Definitely worthwhile.
While warranties would be desirable for every piece of jewelry that I own, more often than not warranties are not my bottom line when considering buying something. In a lot of instances, the jewelry chains don’t offer quite the panache and character that I like in my jewelry, so buying from smaller stores or online merchants is a good option.
If you are looking for a big designer name, but their prices are out of your reach, consider this question. “Would I consider buying it used?” Like a car, the prices for a previously-owned piece of jewelry are much more affordable, in a lot of instances. For example, try browsing eBay for Tiffany & Co….
Also, consider that there are better times of year to purchase jewelry. The following came from Bankrate.com:
Best time: Avoid the holidays, Valentine’s Day and Mother’s Day
For jewelry, it’s more a matter of when not to buy if you’re focused on getting the best deal possible. “You’re going to pay closer to full price around the holidays because most jewelers generate one-third of their annual revenues and almost 100 percent of their annual profits in those two months,” says Ken Gassman, founder and president of the Jewelry Industry Research Institute. “You’re going to get great value the other eight months of the year.” In general, avoid the fourth quarter, that’s when most of jeweler’s yearly profits are made.
For a good general knowledge of purchasing stones see the following article: