[Jewelry making - Article 00232] - Re: [Orchid] How to value customer's scrap on trade

[Gary Udhwani]

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Hi Silver

    This is definitely not an easy question cause its not about how much
    do you pay for scrap gold it's about can you make that sale or not
    with the trade. I would proceed on this with caution because you
    might make the customer feel insulted. The gold value in a piece is
    usually less than 40% of the retail value so you would offer less
    than that. A normal customer for some reason believes that his gold
    jewelry holds up its value, if he or she has paid $50.00 he must get
    back the 50 or may be 45, you have to give reasoning why you are
    paying only $15 or $20 for something he paid $50.00. I make atleast
    two trades everyday successfully, come up with a complete scenario
    as what you will pay for an item lets say retail value $50.00 what
    the customer might say and what your answer will be. think of
    atleast five different scenarios when you offer that little bit of
    money to the customer compared to what he paid. I am sorry to say
    but most good jewelers are not good sales people. Some customers
    just like to buy jewelry form real jewelers just because they know
    that a jeweler would have more knowledge that themselves this should
    not be miss understood of being a good sales person. good thought
    but proceed with caution or you might loose a customer or two. 

Gary

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