I’ve personally worked in the jewelry industry online marketing reputable sites to consumers for a few years now. My main motivation back in 2005 was to save money on a nice diamond ring for my girlfriend at the time. I ended up finding an overwhelming amount of information online about jewelry but with diligence it is possible to save big time.
The key was when I came across a live jewelry auction site which had traditionally been used by resellers to buy their jewelry and then resell on ebay. Items valued at $200, $300 and $400 have been known to go for $30, $40 and $50 respectively. I found an awesome 14K yellow gold diamond channel ring valued at $275 but bought it for $43!
Now, if you’re an individual buyer looking to buy jewelry online then this is great. However, I became interested in making money off this outstanding opportunity. What you need to do is check out the live bids currently going and place bids at no higher than 10% of the listed value. An example of this would be if a necklace is valued at $300 then the most you should bid is $30.
You can use your own judgment but do your best to keep it as low as possible. Now what you want to do is go on a site like eBay or Craigslist and list the item 3 or 4 times as much as you paid for it. In our case here, that would put our necklace at $90 or $120 which is still way below half off the listed value of $300. Thousands of people have used this very same philosophy to resell jewelry in the comfort of their own home and it is something you can definitely do with a few spare minutes a day. Regardless if you want to buy jewelry for yourself or resell you can check out more on this topic below.