Don't make this mistake when buying Second Hand Jewellery! You could lose thousands.

A couple months ago we had a beautiful one off pre-loved Cartier Diamond and 18ct Rose Gold Juste Un Clou Necklace for sale on our website.  As soon as we listed the item we were inundated with emails and offers on the piece.  Several people started sending us offers on the purchase price which happens commonly with our pre-loved pieces.  

We offered these customers a discount off the asking price however but a couple of customers who were were still hoping to get a further $50 or so off the discounted price even though the item was already discounted by several thousand dollars.

What happened is that while several people were still trying to negotiate another buyer swooped in and purchased the necklace.  Once the item sold the people who had missed out were extremely disappointed and messaged us asking when we would get another item similar again.

Unfortunately, the answer is, we will probably never get a piece like this ever again.  In fact we know for a fact we would never get a piece like this ever again priced at the amount we were selling it for.  After the item sold we realised we had the item priced $3000 cheaper than other pre-loved items (which was $5000 off retail) that were selling.  Not only was the item extremely rare, it was priced much lower than other similar items.

We have seen this happen several times on quite a few of our pieces.  What we think happens is that while people are negotiating they sometimes lose sight of what is the important thing. ie purchase the item at a significant discount off retail.  Often when negotiating people will get stuck on an amount which in the bigger picture is a very small proportion of the item such as $50 on an item that is $4500.   

If you get stuck in the negotiations, you will potentially lose the bigger picture and the bigger picture is the opportunity to purchase a one off pre-loved item saving thousands off retail.  It is uncommon to have an opportunity to save this kind of money and the market is not a set market.  

As a seller, I am also a buyer so see this from both points of view.  I advocate negotiation but do try to avoid this which is known as haggling.  Haggling is when someone persistently bargains to the point of when it is no longer giving a fruitful outcome to either parties. 

In negotiation it is very easy to fall into this trap, but if I were to give advice as someone who both buys AND sells is not to get caught up in persistent haggling.  Yes try and negotiate and get as good an outcome as you hope to get, but don't lose sight of the bigger picture.  I have seen so many disappointed people miss out.

So if you are within 5% of an agreeable price, try to remember and see the bigger picture a) there is only one of these items available b) the item is already 50% or so off the retail price c) there are other people who are interested who could easily purchase the item before you.

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.

In January 2018 we also introducing our own line of fine jewellery.  

Whether you are buying pre-loved, new or selling a piece of fine diamond designer jewellery, we put customer service first and aim to provide you with the best outcome possible."

Older Post

Leave a comment

Please note, comments must be approved before they are published