We all love jewelry, but if you’ve peeped in a shop window recently, you’ll have seen that the prices are eye-wateringly high. Buying gold, diamonds, platinum, and other precious stones is expensive.
Fortunately, we have some good news for you. We’ve collected all the tricks of the trade to show you how you can get the same great jewelry at lower prices. Here’s what to do:
Table of Contents
Check Metal Wholesale Prices
The relative prices of precious metals compared to each other and the rest of the goods and services you buy go up and down all the time.
When gold is high, other metals, like palladium or rhodium can be much lower. If these prices stay down for more than a couple of months, they eventually filter their way into the jewelry market. Metals cost less to source, and retailers begin passing these savings on to customers.
The opposite is, of course, also true. When the price of gold rises (which it has done recently) so too does the cost of rings and bracelets.
Therefore, always check the wholesale prices and see if you can get more bang for your buck. Buy the cheapest metals when market prices fall and you will be able to slash jewelry costs.
Avoid Mined Diamonds
You can also lower the cost of your jewelry by avoiding mined diamonds and using the best sources to buy lab grown diamonds instead.
These diamonds have roughly the same molecular structure but cost a fraction of the price. That’s because no central company is controlling the supply, pushing up margins.
Lab grown diamonds are still made of carbon atoms, linked together in a hexagonal pattern. However, instead of growing under immense pressure inside the Earth’s crust, technicians recreate those conditions in a lab.
Buy Second-Hand
You can also make your money go much further by buying second-hand. Jewelers charge a premium for brand-new items but are often willing to offer discounts on second-hand items.
The great thing about quality jewelry is that it doesn’t degrade or tarnish (if it is high-quality). Moreover, even if it is missing jewels, you can replace them with a professional jeweler at a fraction of the price of buying the same item new.
Gold chains tend to be particularly inexpensive second-hand. If there are scratches on the surface, you can ask jewelers to buff them out.
You can also find antique bargains – old items that have gone out of style. These can be a great option if you enjoy boho looks.
Get Gold Plated or Vermeil
You can also get gold-plated or vermeil jewelry to help slash jewelry costs. These items have a thin layer of gold atop a base metal, usually stainless steel or silver.
The upside is that this approach lowers the cost of jewelry substantially by reserving the gold elements for the parts you can see only. However, it reduces the weight and the quality and may have adverse effects for people with allergies. Sometimes, very thin gold leaf can also rub off over time, causing the jewelry to lose its luster and change color, if not kept properly.
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