Myths and Truths About Jewelry Stores
What a Jeweler Won’t Tell You When You Are Purchasing (Investing in) Your Jewelry
Diamonds are NOT rare. In fact, a $3000 diamond only costs the Jeweler $320, or less!
Jewelry only costs the Jeweler about 10% of what he is selling it for. This is why you always see 75% Off Sales!
A $1000 ring only costs the Jeweler about $100.
If the Jeweler is selling that $1000 ring during one of his “75% Off Sales,” it will cost the buyer $250. That is still a Huge Profit for the Jeweler!
And don’t forget, on all these sales they also raise their “Regular Retail Prices.”
A Jeweler is always your best friend when selling you jewelry, and he’ll always convince you that your “investment” will hold its value.
But, when you try to sell your item back to him, he’ll say he is overstocked, and he’s just not buying those items “right now.”
Many jewelry stores will sell you a pre-owned jewelry item! That’s right! Your wedding ring may have been owned by someone else before you!
Gold Facts – Karat Weights:
- Gold Content is determined by Karat Weight.
- 24K Gold is 100% Gold.
- Karat Weights below 24K are the Karat Weight divided by 24, so:
- 18K Gold = 18/24 parts gold = 75% Gold;
- 14K Gold = 14/24 parts gold = 58.3% Gold;
- 10K Gold = 10/24 parts gold = 41.6% Gold;
which means that:
- 14K gold is 58% Gold and 42% other metal!
- 10K gold is barely gold; it is up to 60% other metal!