The Secret to Buying Jewelry

Published: Jan, 24 2017

Buying fine jewelry is not an everyday experience for the average consumer. Many will head to the mall or turn to a name brand retailer when it’s time to buy a diamond ring, a high-end watch, or a beautiful necklace. However, just because a store name seems familiar may not make it the best place to shop.

If you’ve ever checked out the prices at a retail jewelry store and had the nagging feeling that they’re higher than they need to be, it isn’t your imagination. The markup at such stores can be several times the wholesale price, a padding that allows chain retailers to offer apparently deep discounts. When you consider the inflated beginning price, however, those so-called “sales” still result in high prices for the customer.

Instead, savvy jewelry shoppers know that the secret to getting fine jewelry and luxury watches below wholesale value is to buy at auction. Auctions offer the opportunity to get unique, high-end pieces at a fraction of their retail value. Unfortunately, in-person auctions may be inconvenient for an individual shopper due to their location or timing.

Auction King, a live online auction site, combines the opportunity of live auctions with the convenience of online shopping. Unlike eBay, where most items up for bid come from retailers, Auction King sells high-end inventory from government seized assets, estate sales, and abandoned storage facilities. Participants can follow along with bidding when the auction starts and participate in real time, or enter an absentee bid prior to an auction’s start. Customers experience the thrill of live bidding as they hunt for their perfect item.

Buying fine jewelry at auction allows consumers to get fantastic pieces at truly bargain prices. Winning bids can be as low as ten cents on the dollar—a 90 percent savings over retail prices. For example, a recent purchaser at Auction King bought a $10,000 diamond ring for just $500. Retailers themselves shop their auctions for items to turn around and sell to their own customers.

Auction King offers a wide variety of fine contemporary and antique jewelry featuring diamonds, sapphires, rubies, tanzanite, and many other stones. In addition, they have Rolex and other luxury watches. Available items are posted on their website and updated frequently. Listings for jewelry include pictures as well as detailed appraisals, and potential bidders may request additional information on any pieces of interest before registering for an auction.

For regular shoppers or insiders, buying at an auction is the secret to getting a truly stunning piece of jewelry at a fraction of its retail cost. And as a bonus, purchasing from the online auction at Auction King means you don’t even have to drive to the mall.