I purchased a pair of 1/2ct platinum round earrings and they are certified for a higher apprasail. My friend works at a jewelry store and she got them for me with a nice discount. My question is that is it possible for me to sell these back to another jewelry and make money off of them?

 

Working in jewlery for a few years, heres some info.

No you cannot sell it to another store and make money. Reason is this....

You friend WORKS at the store right, she does not OWN it. So she sold it to you for a good price, but they still made a little money off of you. ( No store will sell you something at a loss) Jewlery stores buy stuff for cheap, or "WHOLESALE COST" You bought the earrings for cheap, but still above cost, so when you go to the store to sell, they will buy them off of you for COST, or less, meaning, you will lose money. High Appraisals are strictly for insurance purposes.

 

i actually got them at cost with her employee discount.

 

Employee discounts are usually still not cost....but even if it was, you MIGHT be able to sell it for cost, so whats the point?

 

My ex worked at a few jewelry stores and her discount was generally cost + 5-10%

Employee COST is different from store COST. Even when the store sells to employees, they still make money.

 

My father owned a jewelry store for a while - typical markup is 400% so unless you got 75% off, you still paid more than the store did.