I finally got a job not working with my parents!!! I am so happy, and now i actually have money coming in to invest. I talked to by high end pawn store who ive done business with before, and he recommends easily movable ps like gold and silver rounds, coins and bars. I mean do disrespect to him, and it was after the fact of talking to him, but i believe i can have a better investment by buying vintage jewelry (ps of course) and resell them. Now it's a bit different, as im buying from estate sales, so a $500 rose gold and diamond bracelet, will obviously be worth $5k in a retail environment. Im not looking for a 20-40 year investment, like what i think alot of you guys by ps for, im looking for somewhat of a quick turnaround unless im keeping it for myself Am i right or wrong to be buying antique/vintage and reselling for a higher profit than buying retail and investing?
Unless you are an expert in antique jewelry and can tell the difference between a solid 9ct piece and a plated one, without an XRF machine, you should stick to the advice you have been given.
I do buy and sell fountain pens, and prefer overlay's, which have hallmarks... so im familiar with looking for them. For instance; http://www.ebay.com/itm/230840887529?ssPageName=STRK:MESINDXX:IT&_trksid=p3984.m1436.l2649 Imagine what that sells for at a garage sale, estate sale, etc. Probably a few hundred dollars, so think of what they'd ask retail. That's profit, and i dont have to take the standard price of ps and pay that.
As a fellow jewellery buyer - hat's off to you fella! Now the advicey bit - can I advise that you pay as close to melt value as possible - it sounds a bit stupid to buy jewellery at spot, almost low balling - but if you visit estate auctions (as I often do here in Brissy), you'll find lots with no reserve going. In that case, its almost silence in the room until its dropped to a ridiculously cheap value, roughly around the melt value! That way, you will always maximise profit - bear in mind the standard scrap values around the country - I always use W.Davis' as mine, taking a pocket scales with me to any viewing and weighing up the lots I'm interested in. That way I can get a rough percentage over the melt value as a 'cut off point' for bidding. Hope that helps, I'd be happy to share any other advice if your interested... Cheers, RD
The problem with vintage jewelry is ...well...it looks old. The major market for jewelry (women) spend hours gazing into jeweler's windows and are pretty boned up on current fashions. And as any men's hat, ugg boot, moccassin, BetaMax Video etc shop owner will tell you... fashion is a fickle beast. Many Jewelers are making their bread and butter by remodelling granny's old peices. They can't compete with the new stuff coming out of India and Thailand. So unless there's a sentimental value, customer's can buy new cheaper than having old peices remodelled.
Thanks, So your saying, over by you these estate sales are selling these lots for way more than scrap value content? Also you want to buy under spot, making it a good deal Also what rough price would you add onto diamonds,etc?
Yup, that's trading. Same thing like working. You work for your money. Investing is your money works for you if you know what I mean
