Buying Luxury Second Hand Jewellery? Negotiation is Possible!

Vintage Hearts on Fire Ideal Cut Diamond Ring

When buying pre-loved jewellery buyers have a lot more control than they realise. When someone is selling an item, they want to sell the item.  And just like that, the ball is immediately in your court.

I appreciate it's not common for Australians to haggle.  Therefore it's not surprising that many buyers do not even know it is possible to do this, let alone do this well.  However, when buying second hand jewellery, you are purchasing from an individual.  It is up to them to decide exactly, when and how they will sell it.  

Having said that, you must be fair.  The best negotiation outcome is a win-win for everyone.  Where both parties walk away happy.  Also just as the individual has the option to accept any offer you give them, they also have the option to decline every offer as well.

1. Have knowledge about the second hand diamond jewellery you are buying. 

Do some research as to what the item currently sells for on the second hand market.  You can use a website such as eBay for this information.  Also research what the item is currently selling for new.  Armed with both these pieces of information, this will give you with a fantastic starting point.  You will be able to figure out how much you are willing to spend and also know how much you are saving.

If someone is also selling a one of a kind piece that is very hard to get, you will need to be a little more flexible in your negotiation.  You want them to accept your offer or at least enter a dialogue with you.

2. Don't be afraid to make the first offer.

It used to be a school of thought that you should not be the first to provide an amount in a negotiation.  This was on the premise in that if you had no idea what you were negotiating on, you might short change yourself.  However if you have already done your research, as in point number 1, this no longer holds true. 

The new school of thought is that the first offer actually provides an anchor point to starting negotiations.  By being the first to provide an amount you have a psychological starting point to the negotiation and this puts you in the drivers seat.  

3. Try to make an offer in the Sweet Spot.

If someone is selling a piece of jewellery whether conscious or not, there will usually be a price they are willing to let the item go for.  This is an amount that will get their attention and make them think. 

You need to make an offer within this range.  This is a range I like to call a sweet spot.  It is an offer in the vicinity of a saleable price, but still gives you the best discount.

The best negotiators can make an offer within this sweet spot ie just enough to get the sellers attention but still getting a discount.

4. Do Not Low Ball.

When you make an offer, you don't want to make an offer that is so low, the seller will just be offended. This is called 'Low Balling'.  Once you low ball a seller you will find it very hard for them to take you seriously and are much less likely to have a successful trade. 

5. Do Not be Afraid of a Counter Offer.

If you make an offer and the seller makes a counter offer, this is great news as it gives you more insight into where their sweet spot actually is.  Now you have a seller that is willing to negotiate and has provided you more information about where their sweet spot is. 

At this point you can either choose to accept the counter offer or choose to negotiate and make another offer again.  If you are interested in purchasing the item you will need to be within a close vicinity of the offer for a successful trade.

6. Remember there will be some sellers who do not negotiate.

Whether it's personality or not, there will be some people who do not want to negotiate.  They will usually specify this and say, 'Fixed Price', or 'Not open to Offers'.  In these instances, respect their wishes and do not send them an offer.  Also if you offers have been unsuccessful you may need to revisit your budget and start again.

7. Always be respectful and polite at all times.

When negotiating it can be awkward at times.  Some people will respond differently to others.  Just remember to always be respectful of the other person.  Know when to back away if you are not close to an agreement being made. 

You don't get what you don't ask for but the art of successful negotiating is to create a situation where both parties walk away happy. This is called a win-win.  You will know if this has happened as you will have your brand new pre-loved diamond jewellery to wear :)

Good luck with it, find an exciting piece and have fun!

Also all of our items are open to offers as well.  Please do not be afraid to send us an email on an item you are interested in.  

Catherine Trenton Jewellery

"We are an established boutique organisation specialising in pre-loved diamond designer jewellery from Tiffany & Co. and other luxury brands.  As experts in this niche trade we work hard to provide a safe and simple environment for buying and selling pre-loved fine diamond jewellery online.

Whether you are buying or selling a piece of fine diamond designer jewellery, we aim to provide you with the best outcome possible.

You can visit our store here."


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