Reselling at a profit?

[genuineshopper]

I have a question, Meeshoo. Is there really a market for buying Tanzanite from TJC and selling it on at a profit? The presenters often say "this will probably be valued at 2 or maybe 3 times what you're paying" and "take this to a jeweller and I wouldn't be surprised if they made you an offer there and then". Does this happen? What kind of jeweller would you go to?

OK, maybe I'm being naive here and I understand about value and insurance etc, but I'm looking at ways to make money fast! I've just heard from a top US doc who is offering me a great deal to fly my daughter to the US for treatment (she has autism) so I need a bid wad fast!!

Many thanks for a fast reply....

 

[Meeshoo]

No no no no no and no!

Do not EVER buy gemstones or jewellery for re-sale. You very rarely recoup what you've paid (and in most cases will make a loss). Please do not even consider this, especially for something as important as you're considering.

Look at it this way ......... jewellers aren't stupid. If they thought they could make money they'd buy direct from TJC, GemsTV etc etc wouldn't they?

As an example, the price per carat for Tanzanite has been the same (even dropped) over the last 5 years. The price per carat for a top quality Emerald has stayed almost the same for about 10 years!

Oh and as you said, valuations are completely different from a re-sale value. A valuation is an indication of what the item would cost to make from scratch if it were lost so factors in jeweller's time, cost of gold, cost of accent stones etc etc.

 

[genuineshopper]

...many thanks Meeshoo. That's what I thought. If I was a jeweller I'd be bulk buying here too! Interesting about Tanzanite. If the mine is going to run out in 20 years' time then why isn't the cost:carat weight ratio climbing?

Maybe too early.

Maybe someone knows something.

Maybe Tony Diniz? Ruth on Rocks said he has a mine at the end of his garden.

My mother has an air raider shelter at the bottom of hers!

 

[genuineshopper]

...btw, how long does TJC take to refund money after receiving the goods back? I'm sent something back on Friday. Many thanks...

 

[Sacha]

I have a question, Meeshoo. Is there really a market for buying Tanzanite from TJC and selling it on at a profit? The presenters often say "this will probably be valued at 2 or maybe 3 times what you're paying" and "take this to a jeweller and I wouldn't be surprised if they made you an offer there and then". Does this happen? What kind of jeweller would you go to?

OK, maybe I'm being naive here and I understand about value and insurance etc, but I'm looking at ways to make money fast! I've just heard from a top US doc who is offering me a great deal to fly my daughter to the US for treatment (she has autism) so I need a bid wad fast!!

Many thanks for a fast reply....

Hiya gs, I see that Meesh has already responded to your post and so I hope you don't mind me chipping in with my 2p's worth!

The bit I've highlighted above I've heard said also, but it is so naughty and misleading of the presenters to say this. In fact on GemsTV they state that they are not allowed to give their own personal valuations...by law...and can only read out customers' sent-in valuations.

On my own personal experience I recently took a TJC AAA Tanzanite ring to my local jewellers to be resized. First off he scrutinises, through a loupe, the inside of the band to check the type of goldwork and to see if there was any hollowing under the shoulders.....there was even tho' it's lasered 'Iliana'. After much teeth sucking and saying it was 'at my own risk' (because the band wasn't completely solid all the way round) he filled in the receipt details and put down "Blue Stones!" Even though I had told him they were Tanzanite bought from a sightholder at the Tanzanite One mine.

This, judging from the threads on here in the past, is pretty typical of most jewellers' reactions to TV bought jewellery. So am very sorry to disappoint, particularly as you have such an important and speedy need for funds. And apologies for rabbiting on a bit......more like 5p's worth!

 

[genuineshopper]

...many thanks Sacha! I did wonder how on earth I'd get anything decently valued if I had to leave the tag on when I took it to the jewellers!!

Snotty bunch aren't they? It's why I started to look online for my bling.

My other thought about making some fast money was spread betting, but I suspect that's even more risky!!

On your ring though, I was surprised to hear that the top ranges can actually be hollowed out bands made to look solid. That does put me off them a bit.

So, TJC is currently running a 14ct tanzanite boulder ring at £5,689.95. It was this one where the presenter said "I bet you get an offer 2 or 3 times that value from a jeweller there and then". It's got two black shadows on it or is it me?

 

[Tabs]

The way i like to think of valuations and "true value" is this....If you went to a jewellers for a valuation and they said £xyz, then ask them what they would buy it from you for. That is what i would consider the item to be worth, the amount the jewellers offer you for it. Just my opinion of course

Good Luck with your daughters treatment if you decide to go..(my son has Autism too).

 

[genuineshopper]

...oooh Tabs! Are you on the autism-biomedical-europe Yahoo group? I'm looking at stem cell treatments. Am in Reigate Surrey, daughter, 7yrs, at special school. Want to chat autism + swap rock pix? Don't know how you post private info here without broadcasting your tel nos etc to everyone!!!!

 

[Tabs]

I'll add you as a friend genuineshopper, we can chat via pm if you wish

 

[Sacha]

I'm watching that right now.... a whopper indeed and unsold I see! There were a couple of dark patches in the very dark blue, I think these could be what Meesh has referred to as 'extinction'.

Presenters don't always show you all the way round a ring and part of the inner band is obscured. It does have the comfort fit inside but there is a 'fretwork', for want of a better word, of gold just under the shoulders and with a good light you can see into them. Probably explained that badly and this may not apply to all Iliana rings!

Ooops, sorry posted at the same time as Tabs

 

[reddwarf]

Hi Genuineshopper,

Sorry to hear your plight, I think you only have to look at ebay to get a realistic second hand value of any item. The presenters of these channels are sales people, no offense but it is no different to someone selling a car, house, holiday home ect.....

I always think of it like when I buy a car, you buy purely for your own enjoyment, it will lose money but if you love it then it is worth it. I take with a pinch of salt what they tell you it is worth, especially when you can see that if you keep watching you can buy the same items over and over again, the replacement value is what you see it sell for again the very next day.

 

[genuineshopper]

...thanks Reddwarf. Yes I've been down the ebay trail and have seen lots of second hand tanzanite rings, some not selling. I know these people are just good marketeers but I had to check on their claims on live telly. If true it could have solved my problem.

I've been buying "stuff" from Rocks & Co until now and despite not quite getting what I thought I would, I do love nearly all my purchases, whether they are quartz or diamonds. I only buy what I like anyway. Won't be buying much from now onwards though as my daughter comes first.

 

[Marble]

Sound advice here re selling on of jewellery. I'd steer clear of spread betting too! Good luck with your endeavours

 

[MissMagpie]

Genuineshopper, I know this is a bit off topic, but if you need money to send your daughter to America for treatment, have you thought of contacting your local paper? They might run a story, especially if it is a new and ground-breaking treatment, and appeal for people to send in donations. Of course it's understandable if you don't want the invasion of your (and your daughter's) privacy, but I thought it was worth suggesting.

 

[genuineshopper]

...many thanks Miss Magpie. Yes I could do that, but I work in the media and I know how it works! I'm wary. Also, the biomedical route for autism is highly controversial in the UK even though there's scientific evidence that many children respond and improve on it. I would risk alienating my NHS support, which I need to help fight educational battles. There are some wonderful charities that help fund treatments for autism in the UK where the NHS won't help, but I'm maxed out on all the ones I know!

But I shall find a way. I always do!

Thanks for your kind words.

 

[NikkiS]

Just my tuppenorth but every time I take stuff to the jewellers they point out the hollowed shanks (not from TJC I might add but typical of a lot of TV jewellery) - since I buy for pleasure and for the stones it doesn't bother me but does caused high st jewellers to sniff.

Good luck with your fund raising

N xxx

 

[Meeshoo]

Just my tuppenorth but every time I take stuff to the jewellers they point out the hollowed shanks (not from TJC I might add but typical of a lot of TV jewellery) - since I buy for pleasure and for the stones it doesn't bother me but does caused high st jewellers to sniff.

Good luck with your fund raising

N xxx

Just goes to show how narrow minded jewellers are! If they focus on hollowed out shanks then they're totally missing the plot. The value should never be in the gold. It should be in the gemstone (if it's a decent item). If they're assessing the ring on goldweight and hollowed out shanks then they're doing the item a disservice.

I've bought from all channels and I buy for the gemstones. I totally ignore the settings because occasionally (not always) you get a stunner of a gemstone in the world's worst setting!

Having said that, there's no excuse for selling something at a very high price and a wire think shank! (Not TJC I hasten to add)!

 

[NikkiS]

Just goes to show how narrow minded jewellers are! If they focus on hollowed out shanks then they're totally missing the plot. The value should never be in the gold. It should be in the gemstone (if it's a decent item). If they're assessing the ring on goldweight and hollowed out shanks then they're doing the item a disservice.

I srongly suspect some of them are looking to criticise. one of them once told me a ring "didn't have big diamonds" - but since I'd bought it for the tanzanite that wasn't massively important to me!

n x

 

[Meeshoo]

I srongly suspect some of them are looking to criticise. one of them once told me a ring "didn't have big diamonds" - but since I'd bought it for the tanzanite that wasn't massively important to me!

n x

I understand that which is why I NEVER EVER take anything to be valued or assessed at a jeweller. It may surprise you to know that there was a conference for jewellers/valuers about 2 years ago where there was a group decision to either not value or undervalue items sold by TV shopping channels! The reason? Small jewellers can't compete with the buying power of the bigger players.

In all honesty I don't listen to jewellers and certain wouldn't have anything appraised by them as (a) they normally know less than I do about gems which doesn't inspire confidence and (b) they normally haven't seen the range of gemstones and so can't make a "considered" judgement!!!

I would encourage people to go to Safeguard only for an honest assessment and valuation.

 

[meerkat]

Good thread, and thanks for the advice Meeshoo, as I was wondering if there was any truth in the assertion that you could make a killing, and clearly there is not. I wonder why they are allowed to say it...?