Now this is the blog that will
make Jewelers mad. But the truth is, most trade-ins are NOT worth their weight in Gold. Here's why...
Most Jewelers have trade-in policies that keep you from getting a really great deal. For example, most policies state that you cannot use a trade-in towards a piece of Jewelry that's on sale. That sucks! It's usually either one discount, or the other, BUT NOT BOTH!
So say for example, you have a trade-in worth $1000. You want to trade it towards a piece of merchandise that's retailed at $2000. (Most policies force you to buy twice as much as the trade-in is worth.) The Jeweler comes back to you after talking it over with their "BOSS" (I love that one), and says "The Boss says he'll give your FULL trade-in price towards that ring you're looking at! You'll only pay the difference which is $1000!" Sounds good eh? NOT!
Because then you notice that there's a tag in the showcase that says, "Diamond Engagement Ring Sale Now 30% Off!". Hey wait a minute... That means that without a trade-in you can actually buy that ring for $1400. And with your trade-in you can get it for $1000. So even though they are offering you FULL trade-in value towards your Jewelry, it's really only a difference of $400! So are you really getting your FULL trade-in value? NOPE!
And that's only one example of a sale featuring 30% off. Normally Jewelers boast big huge savings of up to 50% off! So at 50% off that $2000 piece of merchandise, YOU GAIN NOTHING! In fact, you lose! Because you just gave them your $1000 trade-in towards a ring that you could have gotten for the same price anyway. That's a Rip Off!
Christmas time, Holidays, pretty much any day of the week, Jewelers can offer up to 50% off. They mark their pieces up, just so they CAN advertise huge savings. So trade-in or not, you're still getting about the same deal. And here's a big thing to beware of...
Beware of the Jewelers that allow you to use BOTH your trade-in and a sale price! Proceed with caution on those deals. Because normally it means a couple things...
