re you intimidated at the thought of selling your family heirlooms? Although the process is filled with emotion and sentiment, an informed consumer can navigate the procedure with the help of expert advice.
We spoke to Jackie Abraham, a prominent estate jeweler and owner of South Florida’s Jackie Abraham Jewelers. His lineage in the industry expands four generations. The family is known for its global reach, honesty, and warmth in business dealings. Jackie shares his tips on how to transfer your heirlooms from your jewelry box to your bank account.
Deal with someone you can trust.
Get referrals from friends and check out reviews from online sources, such as Google and Yelp. “There is no greater peace of mind than a solid referral from a satisfied customer,” says Abraham
Knowledge is power.
“It’s important to get an evaluation from more than one expert in the field,” reveals Jackie Abraham. “Be sure to deal with someone who is strictly in the business of buying and selling fine and estate jewelry, diamonds and watches. Try to work with buyers that are as close to the consumer as possible. The more middlemen between the buyer and seller, the less money you’ll get.”
Consider trading old for new.
“When considering a new purchase it might be beneficial to ask the jeweler to consider a trade,” says Jackie. “He has an added incentive to give you a better deal and you will only be responsible for the sales tax on the difference in the trade. In the event the trade is less than your jewelry value there is no sales tax and you will receive the credit. ”
Master the art of negotiation.
Jewelers always leave room for negotiation. “That’s just good business,” reminds Abraham. Above all, be frank. Let the jeweler know you have already shopped around and are firm on your price. If you are selling several pieces, suggest leaving out a favored item without changing the final price. Lastly, always keep in mind that a good jewelry buyer wants the opportunity to counter offer, should you decide to shop around.
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