So, you want to sell jewelry in Boston? Have you ever seen an amazing piece of jewelry on someone and wondered where he or she got it? Or thought, How did they afford that? Many consumers fall victim to the notion that high quality equals high cost. But you can be the one turning heads if you only know where to shop.
Do you know what your jewelry is really worth? If you did the research, you’d probably find that the net worth of your accumulated gold and diamonds is much less than what you paid. That’s because most retail jewelry stores mark up their inventory at least twice their cost for gold and over three times their cost for diamonds – making a gold diamond ring sell for around 500% over cost! This is in part due to the lack of consistent demand throughout the year, and more specifically the inflated costs of running a retail business. When you buy that diamond ring, you’re not only paying for the ring itself, but for all the costs the retailer incurs (salaries, marketing, rental, taxes, etc.), in addition to the calculated profit.
Another driver in prices is the widely accepted assumption that price equals quality. The more expensive an item, the more valuable it is, right? Wrong! Retailers play into this misconception by implementing even higher markup costs than normal for high quality items. So, while those pieces are in fact more valuable, you’re not only paying for that value, but the perception of value as well.
As frustrating as this reality can be, know that not all jewelry stores are the same! The savvy shopper can avoid those high costs by visiting Bromfield Jewelers! Cut out all those high retail costs that drive prices up, providing customers with the opportunity to purchase high quality pieces at an affordable price. So, you can become the envied one amongst your friends while keeping the majority of your paycheck! Check us out at 49 Bromfield Street in Downtown Boston!