Estate Jewelry Store vs Retail Jewelry Store

There has always been a debate whether the retail jewelry business is more lucrative than the estate jewelry store, or vice versa.  There are many advantages to both businesses which make them very different.  On the surface one might say, “well a jewelry store is just a jewelry store, all they do is sell jewelry.  How different could an estate store be from a retail store?”  The answer is very different.

A retail jewelry store, for the most part, only sells brand new pieces of jewelry.  Examples of more famous stores include Cartier and Tiffany.  At these stores a customer can expect to pay full retail for a piece of jewelry.  Some negotiating may occur but at the end of the day you are paying close to retail.  Most retail stores buy their jewelry and watches directly from the companies that make them.  For example, when Mayors buys Rolex’s to put in their case, Rolex specifies the price that Mayors must sell them for.  When you walk in and ask for the price of a watch a sales person will give you the retail price suggested by Rolex.  Of course you may be able to get the price a bit lower if you are a serious buyer but there is little room to move.  An advantage to some customers who buy retail is you are receiving a brand new piece with all the proper documentation to prove its authenticity.  Many people feel more secure buying something new rather than used, and this comfort and safety is what retail jewelry stores count on.

Estate jewelry stores on the other hand get involved in many different types of transactions that save the customer tons of money.  For example, one of the biggest parts of having an estate store is buying the merchandise to stock.  Most of the jewelry you see displayed in an estate store is bought from people just like you. The jewelry comes right through the front door from peoples homes and right into our office.  Estate stores are usually not authorized dealers of designer jewelry or watches and do not have to follow the same strict retail prices that retail stores do.

A lot of times buying the same piece from an estate store rather than a retail store can save you 50% or more.  However, some people do not like to buy used.  When they think used they think of a used car; problems, not running right, etc.  But when it comes to jewelry used is as good as new.  Yes, maybe there are a couple scratches here and there, but nothing that can’t be buffed out.  Any piece of jewelry can be made to look brand new and many times buyers cannot tell the difference.

In conclusion it is really up to the customer.  Depending on your preference you may want to buy new and have the security that you know what your buying is real.  But you are paying a premium for that safety which is many times unwarranted.  Most estate stores will guarantee authenticity with a warranty.  Estate stores have a reputation to uphold selling genuine products and they strive to do so.  Buying estate can be a great way to save money and get an equivalent product.

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