Jewelry Auctions
Jewelry Auctions
Jewelry seems to be one of the most active categories for online auctions, and they pop up in govrenment auctions quite often. It's interesting to note that at the Treasury auctions, they appraise the jewelry, but don't share that information with the public. It's probably because appraisals are unreliable and subjective and typically don't reflect market values. It's a good idea not to make your bidding strategy based on these numbers. Don't make the mistake of thinking you can buy a jewelry item at below its appraisal value and then run to a jeweler to flip it. That never works. See our tutorial on "flipping" to learn more about that.
Another important step in participating in jewelry auctions is to understand the gemology and have some idea of diamond grading and market values. The best way to do this is through comparison shopping. If you have ever been to the mall, you will notice that there is no shortage of jewelry stores. It's a good idea to talk to them. Find out what they charge. Here's a tip. Don't tell them what you paid or want to pay for an item to get a comparison. Give them the gemological specs and ask them what a comparable piece would cost from them. That way it will get a realistic answer from them and they won't simply view it as a chance to slam their competition. Jewelers at the mall aren't happy about competition from the Internet and will have nothing good to say about it.
One exciting venue for online jewelry auctions is PoliceAuctions.com Fire Auctions, 5 minute live streaming auctions that start at $1 and have no reserve. They have jewelry items up for bid every single night and you don't need to be a paid subscriber to participate in them. You can also use our search results page to find deals on Jewelry. Click on any term below.
