Jewellery is a precious and luxury commodity that people prefer to buy only when it is authentic. It is also a fact that people don’t buy jewellery much often like they buy daily products i.e. jewellery is something people buy once in a while. Now because of this, there is no continuous sale of jewellery in the market and all the jewellers have to store their jewellery for some amount of time, sometimes for years. The uncertain demand is just one reason behind this, another possible reasons are – sudden unpopularity of certain items or rise in the price of certain metals or diamonds, etc.
This seems to be a difficult problem for jewellers but it is not because there are certain ways in which they can keep the jewellery authentic for a longer amount of time.
- They keep the records of their purchase and sales to avoid the confusion. With the records, they also maintain the source of the jewellery. Hence, even if the jewellery becomes old, it will sustain its brand value with it and people will purchase that jewellery based on that brand value. Although it’s a bad strategy to keep the jewellery unsold which is not of a famous brand because people will not have any reason to buy it.
- Authenticity of jewellery certification – This is an important document that jewellers give to their buyers while making the purchase. It is important because it states the genuineness of the jewellery item. Asking for this certificate is actually the right of a customer and people who don’t ask for are uninformed. Almost all decent jewellery stores like hatton garden jewellers london will hand you this certificate even if you don’t ask for. The certificate is provided by the designer, maker or manufacturer so that anyone can verify the item’s originality. This certification of the jewellery is something which keeps the old jewellery still in action. Even if the brand of certain jewellery is not so popular but it comes with the certificate, there are high chances of people buying that product even if it is old. At some places, this certificate is also known as a letter of authentication (LOC).
- Appraisals – Note that LOC does not appraise the jewellery; they just state the raw information and assert the originality. Appraisals are made by professional jewellery appraisers, they are trained and certified experts. They examine and estimate the value for what the piece of jewellery is worth based on its current state. What jewellers do is they ask their customers to go to an appraiser and see the worth of the jewellery that they are buying. It is very normal for people to ask for the quality of the old jewellery and in that case, asking the customers to directly check via experts is one of the best and genuine strategies to sell the old jewellery items. The appraisal includes a bunch of things, from material to condition of the jewellery. While buying Engagement Rings in London or any jewellery, remember to go for both of these documents to be double sure about the product you are buying.