How to Get the Best Price on Vintage Jewelry - Episode #163

[00:00:00] Welcome to the The Jewelry Reseller's Podcast, your go-to source for all things shiny, sparkly, and of course, profitable. I'm your host, Desiree, and I'll be your guide on this dazzling journey through the world of reselling jewelry. We'll be diving deep into the art and science of reselling, uncovering valuable tips, insider secrets, and sharing stories from successful jewelry resellers.

[00:00:25] We'll explore market trends, industry news, and even discuss how to find those hidden gems just waiting to be discovered in thrift stores, estate sales, and beyond. So if you're dreaming of turning your hobby into a hustle, or if you're a seasoned pro looking to stay at the top of your jewelry reselling game, join me each week for insights, stories, and more on the Jewelry Resellers Podcast.

[00:00:51] So one thing I've noticed lately is that vintage jewelry has become incredibly trendy, which is fantastic in some ways, but it's also created a lot of confusion. People assume that every vintage jewelry source is a hidden treasure chest filled with incredible deals and extremely sought-after vintage jewelry.

[00:01:21] But truthfully, some of the worst places to buy and source vintage jewelry are the places that people think of most. So in today's episode, I am going to approach this from a little bit of a different angle. I'm going to start off by telling you some of the places where I do not think you should purchase vintage jewelry.

[00:01:48] Now remember, this is a reseller-focused podcast, so I am going to be focusing on the reseller perspective. However, a lot of the things I'm going to be talking about today also apply if you are just someone who loves vintage jewelry for your own personal style and for you to wear and enjoy.

[00:02:11] And also, some of these things will apply if you are a vintage jewelry collector. So that's the direction we're going in today, jewelry friends. Hello, my name is Desiree, and you know that I am your jewelry reselling bestie. So today, this episode is going to be in two parts. In part one, we are going to talk about where not to buy vintage jewelry.

[00:02:38] And then later on in part two, I'm going to be sharing some of the best places that I think resellers should know when it comes to where to source vintage jewelry, specifically for reselling. So before we get into that, you know I like to always remind you to make sure you visit our website, JewelryResellersPodcast.com, because over there you can opt in to our newsletter.

[00:03:08] And when you do that, you will get instant access to a download that I created, which is titled The 20 Best-Selling Vintage Jewelry Brands that I think all resellers should know. Also, if you are looking to learn how to turn jewelry into income, well, I invite you to check out my brand new learning space. It's called Jewelry Jumpstart, and you can get all the information and join for free at JewelryJumpstart.com.

[00:03:37] All right, so let's go ahead and get into today's topic because we do have a lot to cover. Now, when I say places you should not buy vintage jewelry, I'm not saying that you can't ever find amazing, incredible vintage jewelry pieces at these places. But typically, the places that I'm going to, I guess, quote unquote, warn you about today

[00:04:03] are places where you are not going to get the best prices, and you may also not get the best quality. So when we are sourcing vintage jewelry specifically for the purpose of reselling, we have to be very thoughtful and very intentional with how we spend our time and how we spend our energy when we are looking and when we are considering

[00:04:29] exactly where to go to buy pieces for reselling. All right, so I just want to frame this episode for you clearly so you have a true and thorough understanding of exactly how I'm approaching this topic. All right, so let's go ahead and get into it. But like I said, part one is going to be where not to buy vintage jewelry for reselling.

[00:04:58] And in some cases, you may not want to buy vintage jewelry at these places just in general. All right, because you're probably not going to get the best price. And the sourcing experience may not give you the volume or the quality or even just the experience that you're looking for. All right, so number one is overpriced curated thrift stores. This is where you do not want to buy your vintage jewelry.

[00:05:27] Now, I'm not saying you can't buy stuff here for your own personal use. But if you are a reseller, if you are someone who is looking to flip jewelry for profit, you may want to be very careful when you are sourcing at curated thrift stores. All right, so the ones that caught on to vintage trends and price like a boutique, you know, those are the places that you probably will not be sourcing from.

[00:05:55] And I want to say that, you know, what used to be a $4 score in some thrift stores now is upwards of $30, $40, even $50 because someone maybe saw something similar on eBay or maybe they think that it's, you know, something so unique and rare. So be very careful. Now, you guys know I love to source jewelry at my local thrift store,

[00:06:21] but it's not the only place where I buy my vintage jewelry for reselling. And I want to say it's kind of hit and miss because I've heard a lot of other resellers say that their thrift stores don't carry jewelry or the pieces they do have are just ridiculously overpriced. And remember, we want to keep our profit margins in mind when we are sourcing jewelry.

[00:06:49] All right, number two of where not to buy vintage jewelry is the mall. Now, this is pretty obvious, but you'd be surprised that a lot of people do think that you can find jewelry for reselling in some of those chain accessory jewelry stores that may be selling vintage inspired pieces

[00:07:12] or the antique little kiosk where they do have secondhand pieces, but they're marked up extremely high. Mall jewelry stores are typically something I stay away from just because, again, in the retail environment, the profit margins are just not there. Okay, so for the most part, you do not want to buy vintage jewelry in the mall.

[00:07:38] And in some cases, I would argue I would not buy any jewelry in the mall. But that's an entirely different conversation. And again, it depends on what you're looking for, what your budget is, you know, maybe if you're looking for a gift or something like that. But just in general, the mall is not the best place to source jewelry for reselling.

[00:08:04] All right, place number three is tourist area antique shops. Now, I have come across so much touristy jewelry pieces in secondhand stores. I've seen them listed on eBay. And usually, tourist area shops, boutiques, strip malls, whatever, those jewelry pieces are marked up for foot traffic, not for quality.

[00:08:32] And for the most part, those pieces are mass produced. They're not very well made. And they're usually just little trinket pieces, you know, for you to take home to remember your trip. They're not anything that people are searching for when they are looking to buy vintage jewelry online. All right, so the same piece is half the price two times over if you can find something you like. But remember, if you're in a tourist area, everything will be marked up.

[00:09:04] All right, place number four is antique malls in major metro areas. All right, a lot of times in antique malls, jewelry will be priced higher. Now, there is an antique mall near me that I can find some great deals. So I'm not saying that it's totally impossible. But for the most part, remember, dealers have to pay their space for their booth.

[00:09:30] Some vendors will put some of their best pieces in an antique mall because they can command higher prices. So you just want to be careful if you are sourcing at an antique mall. I'm not saying it can't be done. But for the most part, unless you can make a deal, you want to stay away from antique malls in general. Again, when you're sourcing for reselling.

[00:10:00] Okay, number five is vintage jewelry booths at craft fairs and flea markets in trendy neighborhoods. Now, again, this is probably going to be a mixed, you know, mixed opinion here. But I have noticed that at some of these little fairs and festivals that we have in my neighborhoods, the vintage jewelry pieces there are priced very, very high.

[00:10:28] Again, I'm not saying you can't find something. But when we are looking for resale pieces, we want to make sure our buy-in cost is enough, you know, for us to spend that amount of money. And also, you're probably going to be wanting to purchase in volume. Now, that's not to say you can't make deals because, of course, you can. But in general, the prices probably will not be what you are looking for. All right.

[00:11:01] Number six is estate sales run by high-end companies. Now, they price jewelry like it's already been appraised at retail. And the real deals are typically gone before the public sale anyway. So, some estate sales. Again, this is hit or miss. Your experience may vary. And I'm not saying I haven't found jewelry at estate sales. I absolutely have.

[00:11:30] But not all estate sales are the same. Not all of them have the same type of items, inventory, especially the ones run by the higher-end companies. They tend to price the jewelry like it is full retail or market value. So, again, just be very picky, right?

[00:11:52] And when you are thinking about going to an estate sale specifically for jewelry, see if they have a preview available online so you can see the type of stuff they are going to be selling. And also, you want to research the estate sale company as well. You know, are they mostly into furniture and jewelry is just like an afterthought? Those are the types of estate sales you want to focus on. All right?

[00:12:20] But, again, it's going to take probably a little bit of research on your part. The next one I have on my list is consignment shops and wealthy zip codes. Of course, they are marked up for the location, not exactly the piece. So, you want to be very careful. And I've, you know, consignment shops tend to price very high just in general. That's been my experience.

[00:12:44] Now, it may not be that way everywhere, but I just noticed that a lot of times they will put, you know, retail prices on items, specifically jewelry items, that are clearly, you know, used, may have some wear or secondhand, whatever the case may be. So, again, consignment shops are probably not the best place to source jewelry for reselling.

[00:13:07] Next on my list is auction houses that actually don't specialize in jewelry. General estate auctioneers often miscatalog or misidentify. And they will add premiums in addition to shipping costs as it relates to selling their jewelry. So, for example, I've dealt with this where I have found some amazing jewelry pieces.

[00:13:37] But you also have to pay like a buyer's fee and then you have to pay a packaging fee. Then you have to pay shipping. So, or it's not buyer's fee, bidder's fee. So, be very careful if you are doing the online auctions, especially one that's not local to you. You know, one where you don't have the option to go pick it up.

[00:13:59] Because even though the actual bidding may be low, it's all the other fees they tack on that could end up eating into your profits. Next, we have vintage pop-ups and curated markets. The Instagram famous ones especially. You're paying for the aesthetic and the vendor's rent. All right. So, I'm not saying you can't look, maybe buy a piece here and there.

[00:14:26] But in general, you're not going to get the best price for what we are doing for our business as resellers. And finally, the last one on my list is pawn shops in tourist or high traffic areas. Now, again, pawn shops tend to price sometimes just slightly above market value because, of course, they want to make money on the piece as well.

[00:14:51] And some pawn shops actually do know vintage jewelry very well. So, they may know exactly what certain pieces are worth because they take the time to do the research. And they take the time to really, you know, compare prices of similar pieces.

[00:15:08] So, while pawn shops can be a good place, maybe, just in general, you're probably not going to find a lot of pieces there that give you enough margin for you to flip those pieces and make money. All right. Now, I do want to say that all the places that I just talked about, you know, there's going to be nuances. There's going to be variables as it relates to each of these places.

[00:15:39] But what I want to encourage you to do is to really find a source that really works for you. All right. You can try some of these places and maybe one will work out for you.

[00:15:56] But in general, you're going to have to find your own system for sourcing vintage jewelry because it's going to be different for all of us depending on where we live, depending on what our budget costs are, and also depending on the knowledge and where we are as it relates to our skill set in recognizing flippable jewelry pieces. All right.

[00:16:21] So, I guess I want to say the pattern here is pay attention to places that have high overhead. Pay attention to places that are trendy and pay attention to, again, what is accessible for you.

[00:16:50] Because I know we're all in different places. We're all at different stages and not all of us are looking for the same type of jewelry. But I do want you to keep this in mind. All right. So, again, this is just an overview. None of this is an absolute. But it is something for you to think about and to keep in mind as you are outsourcing.

[00:17:13] Now, I get asked this all the time, which is why I wanted to do another episode on, you know, where to buy vintage jewelry. Because I get asked this question a lot, you know, by people who have been doing this for years and also people who are brand new and just getting started. So, now let's transition. Let's talk about where should you actually be going to buy or source vintage jewelry.

[00:17:42] All right. So, now we're going to do a quick pivot. And these are some of the places where I think you could find some amazing deals depending on what's available to you and depending on where you are and what your budget is like we talked about. All right. So, number one, estate sales in regular neighborhoods.

[00:18:05] Now, I have found some amazing jewelry in my town just by going to these little local smaller estate sales run by local estate sale companies. Right. Not the big trendy ones. Not the ones where it's at, you know, the mansions where everyone has heard about it. But the estate sales run by smaller local companies in working and middle class areas where the family just wants the house empty.

[00:18:34] Now, I'm going to give you a tip which some of you probably already know. But if you can, go on the very last day and preferably probably a few hours before the sale is about to end. Now, that's because usually everything will be marked down because they don't want to have to pack all of that stuff up or they don't want to have to haul it to, you know, Goodwill or wherever on their own.

[00:19:05] Now, are you going to probably have the best choice? Like, are you going to have first pick on some of the most amazing pieces? Probably not. But you'd be surprised at how much is still left over on the last day. What I typically like to do is to go on the first day and the very last day because I like to see if there is anything there that I am willing to pay, you know, maybe to pay up for on the first day.

[00:19:32] But then I also get an idea of what type of jewelry is there and what could potentially still be there on the very last day of the sale. All right. Number two is small town antique malls. All right. These are those little hidden gems that are out of the way that sometimes you don't really know about unless the local tells you or, you know, you happen to find it online or something like that.

[00:19:58] And these small town antique malls typically do have lower booth rent, which could mean lower prices. And the vendors, you know, don't have to chase the trendy high priced inventory. So if you can be willing to drive maybe a half hour, an hour out of, you know, the main city and you could find some much better deals at these smaller hidden antique malls.

[00:20:29] All right. Number three of where to buy vintage jewelry for reselling. Estate auctions run by jewelry specialists. Now, this is an interesting one because I have actually seen this. Sometimes an auctioneer actually knows what they have and you can still win because the bidder pool is small and specific. Right. Sometimes these little tiny estate sales are not really for the masses.

[00:20:58] They're for people who are looking for specific types of jewelry. Now, I have seen this in my area. There was one estate sale where they had all this African jewelry. Now, you know, African jewelry is not going to probably attract a lot of people. But for people who do love that ethnic tribal style of jewelry, they are going to really love small curated sales like this.

[00:21:25] Now, this can sometimes go either way because sometimes because it is so niche or so specific, the prices could be higher. But also you're going to have less competition because not a lot of people are looking for that particular type of jewelry. So that's just something to keep in mind. All right. Number four of where you should buy your vintage jewelry. This is always a good one. Garage and yard sales.

[00:21:53] This is still the best raw deal source. If you're willing to put in the miles early morning, cash in hand and ask if they have any jewelry that didn't make it out to the tables yet. I have done this many times and I have scored huge, amazing, wonderful deals doing this.

[00:22:12] Now, it does take a little bit of patience and it does take being willing to do the footwork to go out there and look and then ask questions. But if you are a yard sale junkie like I am, you will know that this is a fantastic place to find some amazing jewelry for cheap. And you'd be surprised. Some people just want to get rid of it. They don't care what it is. They don't care what they have. They just want to sell it.

[00:22:42] All right. Now, I'm going to move on to some more places. Now, I do have thrift stores in non-trendy areas on my list. Because you all know if you watch my live streams, I have an amazing savers that I am able to find some incredible deals on jewelry. And I know not everybody has that.

[00:23:08] But don't instantly dismiss these chain thrift stores because some of them are better than others. Right? And you probably want to go to the more far out, non-trendy areas. Maybe the less busy towns. The smaller towns. But you do want to skip the boutique thrift stores. Right? I don't... I've never found jewelry at the bins.

[00:23:35] So I don't go to the bins. I've heard some people finding jewelry at the bins. It's never happened to me. But I haven't been to the bins in years. So I typically don't recommend it for jewelry specifically. But also the little church thrift stores, the charity thrift stores, the little, you know, mom and pop thrift stores. Those are excellent places to look for jewelry and to source some really amazing pieces.

[00:24:04] And that leads me to my next one on my list. Church rummage sales and community fundraisers. Now, a lot of times these have volunteers who do all the work. So they may not, you know, have the time to research every single jewelry piece on eBay or wherever. And a lot of times they're just trying to get the stuff sold.

[00:24:25] They're not trying to necessarily compete with, you know, whatever the market pricing is. So they may not have awareness of trends and what the competition is pricing similar pieces at. And because all the proceeds go to charity, again, they are just more happy that the piece sells and that it's money raised for a good cause. All right.

[00:24:52] So some of the best finds can come out of these types of sales. So definitely keep them in mind. Next, we have older jewelers who buy out estates. Now, this may or may not be accessible to everyone. I met a lot of jewelers who buy jewelry in bulk and some of their lower end pieces, they're willing to kind of move those pieces at a much lower cost.

[00:25:23] These are independent, multi-generation jewelry stores that sometimes take in estates as part of their business and they price to move. So they want the pieces that are more like thousands of dollars and up versus pieces that are going to sell at maybe 20, 50, 100 dollars. All right. So this is going to require you probably to start building relationships. Again, you can find these types of people at jewelry shows in your area.

[00:25:52] That's where I have met them here in Las Vegas. And you just want to build a connection and say, hey, you know, if you have any of the lower tier pieces, I would love to, you know, see if maybe I can buy them from you. You know, and they are very happy to move those pieces because for them, it's not worth it to sell a bunch of pieces for, you know, $75 or $50.

[00:26:19] They're looking for the pieces that are hundreds and thousands of dollars. All right. So, but again, that's going to take some connecting, some networking and you being willing to share, you know, that's what, that's what you're looking for. Next on my list, flea markets and non-trendy areas. Now, one of my favorite sellers, live sellers, this is how she sources her jewelry. She goes to flea markets, ones that are not that popular.

[00:26:49] Now, this is kind of the same logic as the antique malls. You want to go where the rent is cheap and the dealers are a little bit older and they are just looking to move product. They are not looking to, you know, nickel and dime you for the best pieces. They are more into moving pieces at volume. All right. So, uh, not in the fancy expensive, you know, outdoor markets.

[00:27:15] Uh, but you want these kind of out of the way flea markets again, that are in areas that are probably just not as popular. Now, I mentioned this earlier for my next one and that's online estate sale previews. And then in-person pickup, this is going to be the best cost way for you to find jewelry pieces, to get the best price and to make sure you have the best profit margin.

[00:27:43] You can use sites like estatesales.net to scan listings and then identify the ones in regular neighborhoods. Uh, make sure they have photos so you get an idea of exactly what it is that they have available. And if you can show up early. So you give yourself the strongest positioning as it relates to being able to, uh, buy or bid on those jewelry pieces. Okay. And then finally, I want to say this.

[00:28:14] When you're looking at auctions, either online or in person, you want to pay attention to where jewelry may not necessarily be the main category. And what I'm saying is this, you, you may have seen, uh, auctions where they're, they're auctioning off tools or, uh, equipment or farming supplies. You know, things like that, where that's actually what everyone's there for.

[00:28:42] And maybe, you know, jewelry is just kind of thrown in as an, as an afterthought. Those are the types of auctions where you can find crazy good deals because the majority of bidders there are not for jewelry. So sometimes you could be the only one or maybe just a handful of people.

[00:29:04] And maybe you guys aren't all looking for the same thing, but, uh, keep an eye out for those types of auctions where again, it's not really jewelry, but there might be jewelry there. And again, you can usually look the, look those up online and you can get an idea of exactly what it is they are auctioning off and whether or not they will have jewelry.

[00:29:30] Of course, if they don't, you don't need to go unless you're interested in some of the other things. Cause I, I know that sometimes here in Vegas, um, we have like auctions where some of the hotels will, will auction off artwork and furniture and all kinds of stuff, you know, and, and most of the time there's no jewelry there. But every now and again, they have things that are still relevant to me as a jewelry seller.

[00:29:57] Uh, they may have displays, they may have shelving, they may have tables or something like that, that I could repurpose for my jewelry business. All right. So that is what I have for you in this episode.

[00:30:17] And I hope it was helpful, especially if you are brand new and you're just getting started and you're still learning exactly, you know, where, where do I find jewelry? I guess specifically vintage jewelry for reselling. But remember when you are reselling, you don't only have to flip vintage jewelry. You can, you can flip modern contemporary pieces as well.

[00:30:43] Uh, again, it's just going to be, you know, what you are knowledgeable about so you can recognize pieces when you see them. But for the most part, this is, um, a good, I guess, uh, overview. So you have an understanding of where to go, where to spend your time and where to map out your sourcing strategy as you create it.

[00:31:08] And, and as you learn more and as you learn what's available to you and what is accessible to you, your sourcing methods will change. And, you know, some of you, you may have antique malls where you can find amazing jewelry. Some of you may, may have consignment shops where you can find amazing jewelry, right?

[00:31:29] So this is not a hard, rigid list by any means, but this is more of a generalized approach, especially if you are just getting started or if you don't know where to start, or maybe you've been kind of trying things, you know, hit or miss in your area. And you want to have a little bit more of a broader perspective as it relates to this. All right.

[00:31:57] So that's going to be it for this episode, jewelry friends. I hope it was helpful. If you have any questions, concerns, comments, or observations, please do not hesitate to leave me a comment. Because I know we all learn from each other. And I always just love hearing your feedback, reading your comments, and also letting me know too what's working for you and what's not. And also how I can improve.

[00:32:27] You know, I'm always open to that feedback. So I want to thank you so much for spending this time with me. And I will check in with you again really soon.