Mr. Lewand’s presentation explored buying jewelry over the counter as a common practice today
As the industry changes from gold as the metal of choice, gold has become too expensive, to Silver and alternative metals.
As the silver bead fad fades the buying public will be looking for something that reminds them of a better time……….so emerges the Antique and Estate market. Estate jewelry is previously owned, not necessarily from a deceased individual.
A few things to check: Local Laws
How long do you have to hold an item bought over the counter?
A Relationship with a Refiner, if you end up buying items for scrap metal.
What are the liabilities with the Police for recobery if an item turns out to be sold by someone other than the owner?
Each state has different rules and requirements. Research and know them!
You need to develope a plan to resell Antique and Estate Jewelry. Will you sell it over the counter or to the trade (other dealers). Will you sell it for scrap? Some items have no real market or value beyond the price of scrap.
Developing a working model for profit…
What price should you pay a private individual for the piece?
At the same time you need to be thinking what can you sell it for to the trade and what would you pay the trade for the item?
Finally what can the piece sell for at retail?
You have to build relationships with dealers, to trade, to compare prices, find pieces and find buyers.
If you are doing the buying, know the market, know the product; Periods and Styles.
Use the services and training supplied by the various Appriasal Associations, visit http://www.jewelrycamp.org which promotes knowledge and education in antique and estate jewelry.
- July 15 thru 17 – The 34th Annual Jewelry Camp – Experience Jewelry Camp as never before…
Have a personnal library to include Books about:
Warman’s Jewelry Identification and Price Guide
An Illustrated Dictionary of Jewelry Terms
Hallmark Research Institute – World Hallmarks
Complete Price Guide to Watches
Collecting World Coins
Encyclopedia of American Silver Manufacturers
We celebrated GIA’s 80th Anniversary with cake!
We had a free raffle for a $50 education voucher and a number of gem/jewelry related books.
Meeting Summary by Charlie Marts
Pictures by Melanie Marts