Ring selling can be a bit of a risky business where anything could happen ranging from being scammed to getting next to nothing for a profit. With all the fears that come with it, it’s no wonder people often prefer not to take the risk. But the truth is, there actually is a better way and that is to sell your rings on consignment.
There are a lot of consignment shops out there that make it easier for one to sell a jewelry without any form of fear. Just in case you’re wondering how this works, here’s a brief summary. So, basically, this is when a shop which offers consignment helps you showcase your ring or jewelry to a larger audience which could lead to your product being bought at a larger price than you initially planned without getting scammed, but the seller would have to take a cut from the profit. You’re probably thinking, “But why should I consider this if I have to share the profit?”, well, you could always go sell it yourself but there is a very high chance that you would get scammed firstly, you would most likely not make as much profit as you would if you had used a consignment store despite the cut you receive and many other things to consider.
When using a consignment shop, it is always advisable to discuss well in details with the seller and ask any question you might have no matter how unreasonable you feel it sounds. Also, be sure to read the contracted presented to you before signing as each store works differently and have various percentage they take at the end of the sale.
Just incase this is your first time trying out this method, here are few starter questions you can ask the dealer before proceeding with the agreement.
- METHOD OF EXPOSURE: Before you entrust your ring in the hands of dealer in a consignment store to sell for you, you need to ask how your product is going to be presented to the public eye. If it will be on display or the store is going to advertise it.
- MOVING? You need to confirm if the store is moving from its location anytime soon and what would happen to your ring if they are.
- PERCENTAGE CUT: You should confirm how much they plan to take as their cut after your jewelry has been sold and what happens next if they are unable to sell it.
- CHECK IN: No, you won’t be paranoid if you decide to check in on thee store from time to time to see how your jewelry is faring. This is actually quite advisable to do if you have a restless mind.
Now here’s why using a consignment store is a good idea. For one, your ring/jewelry would get a lot more exposure from numerous clients, most of whom would definitely have an interest in your jewelry. You also have the option of asking the store to provide a better display for your product so as to be more eye-catching. You will get a way better profit than selling it yourself seeing as your products are being handled by professionals who would try as much as possible for your product to be sold at a high price seeing as they get an agreed cut as well. After giving it a try for the first time and seeing how successful it went, there really is no need to try another shop as you could become a regular customer at the previous shop used which would even increase your trust and rapport level with the dealer making your profits even higher than before if you are lucky.
This method is really a time saver as it saves you a lot of stress and gives you a lot more gain.