Jewelry Reselling Beginner Series - Part 1: Sourcing - Episode #94

[00:00:00] Welcome to the Jewelry Resellers 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. We'll explore market trends, industry news, and even discuss the jewelry resellers.

[00:00:30] 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. Hello Jewelry Friends! Welcome back to another episode of the Jewelry Resellers Podcast.

[00:00:58] My name is Desiree and I am your Jewelry Reselling Bestie. For this very first episode of the new year, I decided to do a beginner series because I know there are a lot of people coming into the jewelry reselling space or community or whatever you want to call it.

[00:01:19] And I've gotten a few questions about how to get started doing this. So I said, let's start the new year off with a series specifically for beginners that will break everything down in order to get started as a jewelry reseller. Now if you are brand new here, this podcast focuses on the business of jewelry reselling.

[00:01:39] And when I talk about reselling, that is basically flipping jewelry items, jewelry accessories online usually, but it doesn't always have to be, but flipping jewelry for a profit. In other words, you're not making your own jewelry. And in some cases, you're not even wholesaling jewelry or I guess what would be called white labeling jewelry and creating your own jewelry line.

[00:02:06] No, we are actually going to places finding jewelry at a cost that allows us to have a big enough profit margin in order to make money reselling that piece. And so that's kind of what I want to clarify up front in case you are new here, or maybe this is the first podcast that you've watched, or maybe this is the first time you've heard of me or jewelry reselling or whatever.

[00:02:32] All right. So the whole intention and the whole purpose of this podcast is to help you start and grow a profitable jewelry reselling business. All right. And so we're going to talk about that today and we are going to get into the very beginner basics of how to do that. So, like I said, my name is Desiree and I have been doing this podcast for about a year now.

[00:03:00] And so I'm really thrilled and excited to kind of start at the beginning, even though technically it isn't the beginning for me. I know a lot of you have questions about this and exactly how do you get started? All right. So this is going to be, like I said, a three part series, and I'm going to explain that in just a little bit.

[00:03:21] But before we get started, if you are brand new here, I do want to invite you to check out our website, which is the jewelry resellers podcast.com. And if you go there, you can opt into our weekly newsletter where I share all kinds of stuff as it relates to jewelry, as it relates to reselling and anything that could be relevant as it relates to us who are trying to do this in a profitable way.

[00:03:50] All right. Now, the other thing I do want to mention is that I have recently started a community for jewelry resellers. So if you would like to meet other people who are trying to do the same thing or if you would like to chat with me, you can do that in our Facebook group. And it's called the Jewelry Resellers Podcast Community.

[00:04:10] And I will have a link for the website and the Facebook group in the show notes or in the video description, depending on where you're watching or listening to this. All right. So let's go ahead and get into today's topic. Well, I should let me start by breaking down the three parts that we're going to cover in this beginner series.

[00:04:35] All right. So I have shared for years now that when it comes to a successful reselling business, whether you're selling jewelry or anything else, there's really three things that you have to focus on or three components of a jewelry reselling business. And if you can get a system for each of these parts of your business, you are going to be in really good shape.

[00:05:00] All right. So let's talk about that. The first thing that you want to think about as it relates to being a jewelry reseller is sourcing. All right. And you will have to create a system to source the jewelry that you plan to resell. I have done podcast episodes talking about how to create a system or a schedule for sourcing jewelry. It's also something that I mentioned in quite a few of the episodes. But sourcing is going to be the key of your reselling business.

[00:05:30] And when I talk about sourcing, that is actually finding the pieces, finding the inventory that you will resell for a profit. All right. So sourcing is the force is the first component. All right. Component number two is selling. All right. So remember, sourcing. We have to get that figured out. Once we have our inventory, now we need to have a system for selling.

[00:05:58] Sourcing number two is selling. So in the selling component, this is where we actually take our inventory and we get that into the hands of our buyers or customers. All right. So selling is a whole thing that we're going to cover in the next episode, because selling is a huge part of this. And you've got to figure out what's going to work, how you're going to sell, where you're going to sell, you know, all of those things.

[00:06:28] But you do need a system for selling as well. All right. The third component is service and shipping. Again, you're going to need a system for this. And when I talk about service, this is customer service. This is answering questions. This is doing whatever needs to be done in order to give the customer or the buyer the best experience that you possibly can.

[00:06:53] And then shipping also kind of falls into this component as well. And we need to learn how we're going to ship our jewelry, what type of tools and things we may need in order to ship these jewelry pieces in a safe and reliable way. And in some cases, an insured way. All right. So we have to master that system as well. Or we have to develop a system for that component, too.

[00:07:22] All right. So there's three components to a reselling business. Sourcing is number one. Selling is number two. And number three is service, which I include shipping in that. All right. So you need to figure out how to how to how to ship these jewelry pieces in a way to where you don't lose money, but also in a way to where you're not overcharging the customer.

[00:07:46] OK, so it's basically what I call my three S system, even though technically it's kind of four S's. But remember, everything that you do as a jewelry reseller will fall into one of these component categories. And today we are going to focus on the first component category, which is sourcing, because without sourcing, you really don't have a business. You don't have anything to sell. All right.

[00:08:13] And that is the value proposition that we are offering to our buyers. In other words, we are giving them gorgeous, beautiful jewelry pieces at a price that makes sense for them and makes sense for us. All right. So let's go ahead and dive into the sourcing component of jewelry reselling. And remember, I am coming from the angle of a total beginner.

[00:08:40] OK. All right. So all I got to do is hop on over to my notes. OK, so sourcing jewelry to maximize profits is something that you have to learn how to do. This isn't something that you can just go to a thrift store or go to an estate sale, find jewelry, buy it and then expect that you're going to be able to resell it for a profit.

[00:09:05] All right. So when it comes to sourcing, there's going to be some investment needed on your part as it relates to researching, as it relates to education. And then also, in some cases, you are going to have to study. You are going to have to study what is currently selling, what is in demand, paying attention to trends and what people are looking for.

[00:09:28] All right. Now, I will say that as a jewelry reseller, you can have a very lovely, robust, thriving business selling any kind of jewelry. All right. I have sold all types of jewelry. I have sold the cheap stuff and I have sold the expensive stuff. And I'm telling you, you can make money in whatever way that makes sense for you.

[00:09:52] All right. So don't feel like you have to be locked in to one type of jewelry or if there's something that you already are very knowledgeable about, use that to your advantage. That's kind of how I got started. I sold my own personal jewelry pieces because I had a lot of it. I had a lot of gold and I had a lot of higher end silver pieces that I sold. And that's really how I got started. But, you know, whatever makes sense for you, it will work.

[00:10:22] I promise you it will work. All right. So we're going to get started by talking about why sourcing quality jewelry is crucial to a successful jewelry reselling business. I think I've kind of already touched upon that. All right. And I want to start with some of the most obvious places where people are looking for jewelry.

[00:10:43] And again, depending on how much money you want to make and what type of business you want to have, that will determine how much sourcing you need to do. And I have broken this down in other episodes. As a matter of fact, I will link one in the description and in this video if you're watching on YouTube in case you want to check that out.

[00:11:07] But because we're talking about total beginner here, you may not have an idea of how much money you want to make or what kind of money is even possible as it relates to this. All right. So, again, I'm going to say that as a beginner, you want to start with jewelry items that you know are profitable. In other words, you want to make sure that you're not going to be losing any money reselling the jewelry pieces that you are selling.

[00:11:35] OK, so let's talk about places to source jewelry. All right. Number one, I'm sure we all are familiar with this thrift stores. It's getting harder to find jewelry in thrift stores nowadays, but you still can. All right. And you can still find some amazing pieces. But here's the thing.

[00:11:57] For the most part, jewelry in thrift stores is affordable, but it doesn't necessarily mean that it is profitable. All right. Just because you can buy a necklace there for ten dollars, we want to make sure that we can resell that necklace at a price that gives us our ten dollars back plus some. All right. So you are going to have to figure out again what is profitable for you and for your business.

[00:12:22] Now, some of the advantages of sourcing at thrift stores is that, you know, it's pretty easy. You just drive to the thrift store. You see what they got. If there's something that catches your eye, you pick it up and you're on your merry way. But the disadvantages of sourcing at thrift stores is like what I have run into is that I usually cannot find the volume that I need as it relates to how much jewelry I want to sell as a reseller.

[00:12:49] I may only find one or two pieces and I may go to three or four different thrift stores and maybe only have six to ten pieces to show for it, even though it took me all that time and all that driving and all the stuff that goes along with it to find those pieces. So you're going to have to weigh the advantage and the disadvantage of sourcing at thrift stores. However, you can do it. Now, some thrift stores do sell jewelry in bulk.

[00:13:17] That's an option, too. I know a lot of thrift stores do the jewelry jar things. But again, I wouldn't necessarily rely on that to find resellable jewelry in those jars. I'm going to say probably about 80 to 90 percent of the time. You just won't. Now, you may and you could, but that's probably not the best way to source, especially if you want to do this as a full time business.

[00:13:43] All right. My second place that I want to talk about, and I've talked about this on the podcast before, that is estate sales and auctions. These can both these can be both online and off. All right. You can do estate sales online. I know where I live. We have estate sales every week that are done online. We also have online auctions, which I have sourced jewelry that way as well. And one of the sites that I'm on, they have new auctions pretty much every day.

[00:14:11] All right. So that is a really good way for you to source your jewelry that you are going to flip for a profit. All right. Now, the advantages of this is that you can do everything from the comfort of your home. One of the disadvantages is you're pretty much dependent on the photos in or on those sites. And a lot of times when you buy in in an online auction or estate sale or whatever, sometimes there's additional fees.

[00:14:40] So you you pay whatever you bid, but sometimes they also have additional fees. And then sometimes you have to pay or not sometimes all the time you have to pay additional for shipping. And sometimes the shipping is handled by a third party. And then that third party sometimes will have fees in addition to the cost of the shipping. So just make sure that you read all of the fine print when you are sourcing for some of these or on some of these sites,

[00:15:05] because there could be a lot of hidden charges that may not make it worth it. But in a lot of times you can find some great deals because I know I have. All right. So thrift stores is a good place to source. Well, your mileage may vary. Thrift stores is one place to source. Number two, estate sales and auctions. All right. Number three, flea markets and swap meets.

[00:15:29] I think a lot of people are starting to move in this direction as the thrift stores tend to get a little bit more challenging to source in. But this is another option if you have flea markets and swap meets or any type of, you know, outdoor market type of place. That's really a great place for you to find some really amazing deals. But the advantages are you can find some amazing deals.

[00:15:59] The disadvantage is I think a lot of flea market sourcing is dependent on consistency and relationships. And so you have to be willing to put the time and effort into that in order to get the best deals. All right. And this is something that will come with time as you develop relationships and connections and you network and people get to know you and what you're looking for. But it's a fantastic way to source jewelry for reselling.

[00:16:30] Number four is going to be yard sales, garage sales. Now, this could be hit or miss because a lot of times you will not know the type or the quality of jewelry. But I have found some amazing deals at yard sales again. But it's been really hit or miss. So I think that's the disadvantage is that there is no consistency. And I know in some parts of the country, you don't have yard sales or garage sales happening year round because of the weather.

[00:16:59] So it could work. You know, I wouldn't rule it out. You know, take advantage of it when you can. But again, I think it's a little bit of hit or miss. But it is a viable option because you never know what you could find. All right. Okay. Number five is online platforms. And we're talking about eBay, Facebook marketplace.

[00:17:24] Believe it or not, there's a lot of jewelry resellers who source on eBay only to turn around and sell those pieces on eBay. Right. You can totally do that. There's no rule saying that you can't. And I know several resellers who do this every single week. They buy pieces on eBay, maybe in bulk, maybe in a lot. And then they turn around and they sell those individual pieces on eBay. Yes, you can totally do that.

[00:17:53] Same on whatnot. I know jewelry resellers who source on whatnot. And then they turn around and sell those same pieces on whatnot themselves. All right. So don't rule that out. That could be a way that totally works for you. And that could be something that you, you know, do on a regular and consistent basis. Again, it's just like, you know, the online estate sales and auctions and things like that. You can totally do that from the comfort of your home.

[00:18:21] But again, remember, you're going to be dependent on the photos that are available for those listings or in the case of whatnot, you know, during a live show or maybe in the marketplace. You know, it just depends. But that's another way that you can source jewelry. Okay. And finally, I wanted to throw this in there. I don't know too many resellers that do this, but I do know some people have done this.

[00:18:47] And that is wholesale suppliers buying jewelry wholesale from maybe someplace overseas. You can totally do that, too. But again, you're going to have to figure out whether or not this is going to work for you because I know it takes time for you to get that merchandise sometimes if you're buying it from someplace like China. And then it may not necessarily be something that's unique or highly sought after.

[00:19:12] And then you also have to deal with the quality issues because, you know, you're not seeing the pieces in person. However, depending on how you're structuring your business, you may want to include this in your sourcing system as well. Maybe this is something you do periodically. Maybe this is something you do, you know, just to kind of add filler, I guess, to your inventory if you know that there are pieces that people are looking for.

[00:19:42] I know one reseller, she does this with some of the popular jewelry pieces, you know. Like there was a Taylor Swift necklace I think she was talking about, and she was able to find it wholesale online through a supplier. And she was able to flip those necklaces for $20 a piece, and I think she paid $3 each. So you can do that. You can totally do that. Now, I don't know if that's something where you want your entire business model to be set up that way.

[00:20:09] But it could be, like I said, something you have in addition to some of the other types of jewelry inventory that you're selling. All right. So let's go back and talk about the places to source. We discussed thrift stores. We discussed estate sales and auctions, both online and off. We also mentioned flea markets and swap meets. And then we talked about yard sales and garage sales.

[00:20:34] We also discussed online platforms like eBay, Facebook Marketplace, whatnot. And then finally, we ended that list with wholesale suppliers. So that's something you can think about as well. All right. So let's move on to part two, which is I want to share with you, if you're a beginner, what you want to look for when you are sourcing jewelry to resell. All right.

[00:21:01] Now, again, if you're going to do this, you are going to have to invest some time in educating yourself, researching what's currently selling or what's in demand. And then you are also going to have to be willing to increase your knowledge with this. OK. Now, you may already know some of this stuff, like you may already know all about gold. You may already know all about silver. That's great.

[00:21:30] But if you're looking for vintage pieces, let's say, well, that's a whole nother layer of education that you're going to have to be willing to spend the time doing. OK. But let me give you some things to think about right up front. So that way, when you are outsourcing, if you are a beginner, you will have these things in mind of what you should be looking for.

[00:22:04] OK. We always want to make sure that the quality is there. Now, again, this will take you some time to learn. This will take you some time to recognize. All right. But the more you do this, the more you will start to recognize quality and you will be able to pick it up and notice it right away. All right. So if we're talking about precious metals, like I said, that is something that it will take you some time because I know for me it took me a while.

[00:22:33] But now I'm not going to say I'm 100 percent always on as it relates to this. But I can look at gold and I can kind of tell if it's real or not by looking. I've gotten better over the years and I'm not going to say I'm 100 percent, but you can kind of tell real gold when you see it. Same with silver. All right. And that just comes from time, you know, and looking at a lot of jewelry and studying it, too. All right.

[00:23:03] The other thing as it relates to quality is we want to learn to always look for markings, hallmarks, stamps, any type of indicator of something that could identify the piece that we're looking at. But I will say this, that even the cheap jewelry now is starting to mark their jewelry. They will have tags or they will have stamps or engravings or whatever on it.

[00:23:25] And so you can't always assume that just because a piece is marked that it is something of high value or something that is of high quality. All right. But that is something that you're going to need to pay attention to. All right. Number two, we want to look at timeless pieces versus trendy pieces.

[00:23:44] Although you can totally have a jewelry reselling business selling the trendy pieces like I talked about with that one reseller when she was able to flip those Taylor Swift necklaces. You know, that was something trendy and people were willing to pay, you know, $20 for it. You can totally do that. But most of us are looking for the timeless pieces.

[00:24:06] We are looking for those things that are so unique and that are so classic that I think that is a good goal when you're starting out to really have those higher end pieces that may not necessarily be super expensive, but they are timeless in the sense of their style, quality and design. Okay. All right.

[00:24:34] Number three is we want to pay attention to the condition. All right. Condition pretty much is everything. Now, I'm not saying you can't sell something that's broken or you can't sell something that could be a little tarnished or missing a stone. But if you want to get the best price, the jewelry has to be in very good to excellent like new condition. All right.

[00:24:57] And a lot of people like me, jewelry buyers are very, very picky. Right. So quality and condition is everything when it comes to this. But there are opportunities to sell pieces that are not pristine. Okay. You can do that.

[00:25:19] But remember, if we're trying to get the best money, the top dollar, we want to have those pieces that are as close to perfect as they possibly can be. And that may not be something that we can, you know, always get. But if you keep that in mind, then you will automatically kind of filter out the things that don't meet that standard. Okay.

[00:25:44] So we want to check for damage like missing stones, broken clasps, tarnishing in some cases, tangles, that type of thing. And if it is something that is spectacular that you may have to get repaired, you want to factor in the cost of doing that. Okay. Because sometimes it could totally be worth it. Other times it may not be. All right. So that's just something that you have to consider. Okay.

[00:26:13] So what do you want to look for when you're sourcing jewelry? Quality, which is the materials and the markings. Two is trendy versus timeless pieces. Three is the condition. And, you know, you just, you want to get the best, the jewelry in the best condition that you possibly can. And then four is brands and designers. I don't know. Did I talk about that?

[00:26:42] But we do want to look for, you know, the higher value brands if we can find them. You know, things like Tiffany, Tiffany & Co. Although we have to be careful because that is a brand that is highly faked. Things like Cartier, things like Trafari, Monet, Napier, some of those well-known vintage brands. So, yeah, pay attention to that and get to learn some of these vintage brands and these names so you recognize them when you're outsourcing. All right. All right.

[00:27:10] Part three, we are going to talk about tips for spotting high value pieces. All right. So, again, this will take some time. The more you learn, the more you know. Right. So, number one, we want to do our research like I've been talking about. Spend some time on eBay and looking up jewelry, the sold category, or, you know, filter out your listings by what has recently sold. And see what types of jewelry are selling right now.

[00:27:39] What are people looking for? And what are they paying? All right. Because you're going to find people spending all kinds of money on jewelry. You know, I know I'm not saying everybody is in the position to do that, but I'm telling you there's always a buyer if you have what they are looking for. All right. So get familiar with what people are looking for and what people are spending their money on. All right. Another tip for spotting high value pieces.

[00:28:08] I've talked about this before. Make sure you're using a magnifying glass or a loop to examine the jewelry piece up close when you are out. All right. I keep a loop in my purse. I think I've told you guys that before. So when you are out and about, you can really examine that jewelry piece up close. All right. You also want to trust your intuition. A lot of people don't talk about this, but I always say trust your gut. Sometimes your gut will tell you yes. Sometimes your gut will tell you no.

[00:28:35] If you feel any type of uneasiness or something's just not right, I always want you to trust that. Okay. Because when you do, you usually won't have any regrets. Okay. A lot of times though, we do have regrets because we say, oh, I don't know if I should get this. And then we get home and we realize we should have bought it. But that's happened to all of us. Right. And hopefully the more educated and knowledgeable you get, the less that will happen.

[00:29:04] But it's okay to walk away from something. I'm telling you, there will always be another deal. Now it may not be the exact same deal, but there will always be more jewelry inventory. Okay. So just trust your gut when it comes to this. And finally, ask questions. If you're able to, don't hesitate, especially if you're dealing with somebody one-on-one or maybe somebody on eBay. Don't be afraid to send a message. If you feel like there is something you need to ask or something that you need clarification on. Okay.

[00:29:35] All right. Part four, we're going to talk about some red flags because when you're a beginner, sometimes you don't know what you don't know. And so I want to give you a few tips on things that you want to avoid when you are outsourcing. Okay. Number one, overpriced items. Remember, it has to make sense. Now, we want to pay a fair price, but we also don't want to overpay.

[00:30:01] Now, it's always nice when you underpay because that will happen too. But we don't want to put ourselves in a position to overpay for anything. And again, this is going to come with some research. But when you're a beginner, you are going to overpay some stuff just because you don't know. I've done it. Almost every jewelry reseller I've talked to has done it because we just didn't know any better. All right. So understand there's a learning curve as it relates to this.

[00:30:26] And you will make some, you know, little fudge mistakes in the beginning. And that's okay because you're still learning. But you don't want to be six months a year, two years into this still making those same mistakes. All right. So also avoid getting too emotional about buying something because I've done this too where I see something and I'm like, oh my gosh, I have to have it. It's so beautiful. I've never seen anything like that before. Oh my gosh, I need to take it home.

[00:30:56] All right. That will happen. It will happen. All right. So understand that we have to do a reality check on ourselves sometimes and not get too caught up or too attached to something. And then we end up overpaying for it. Okay. The other red flag you want to avoid is counterfeit jewelry. I've done a whole episode on this, especially the higher end luxury jewelry. But also you want to avoid scams to the best of your ability.

[00:31:24] I have done a podcast episode on that as well and how you can protect yourself. All right. But you need to learn to identify which brands are highly faked. And then you also want to learn how to recognize fake jewelry. Again, this is going to take you some time. But the more you do this, like I said, the better you will get at it. And finally, we talked about this too, pieces in poor condition.

[00:31:49] If something is really messed up, please don't give yourself an extra project of, oh, well, I'll fix it. Oh, well, I'll clean it. Oh, I'll find someone to fix it. It all sounds well and good, but, you know, time is also a precious resource. And if it's something that we have to invest more time and energy into in order to list it to sell, it may not be something that you want to invest in. And it may be something you want to leave behind. All right.

[00:32:17] So just be aware of these things when you are outsourcing. All right. And finally, I'm going to tell you how to get the odds in your favor, especially as a beginner. All right. So number one is consistency. The more you show up, the more opportunities will find you. I promise you and I can guarantee you that. All right. There was a time when I was going to the thrift stores pretty much every day.

[00:32:42] And I'm telling you, I would find a home run at least at least once a week by doing that. All right. So the more times that you can go out and source, the better your luck will be. Now, it doesn't only mean in-person sourcing, but it also means online. You need to check those websites every single day. In some cases, you may need to check them multiple times a day. All right. Especially some of these online sites or even eBay.

[00:33:09] You can set up alerts to help you remember to check eBay several times a day. And if you're at home or if you're at the office, it only takes a few minutes to do that, to see what may have popped up within the last few hours or whatever. But again, the more you look, the more you will find. All right. So as a beginner, use that to your advantage. Because sometimes that's really the only thing that will set you apart from everybody else is

[00:33:39] your consistency and your discipline to always show up in whatever way that is, whether it be in person, online or whatever. Okay. Tip number two, you're going to build relationships. I think that seems to be the recurring theme as it relates to reselling, especially in 2025. It's all about letting people know what you do and what you're looking for

[00:34:06] and not feeling like you're doing something wrong by being a reseller. All right. This is a legitimate business. This is a way that a lot of people are paying the bills and feeding their families and doing what they need to do. All right. So don't feel like you have to hide it. Now, I do know that there's some situations where you may not want to broadcast that you're a reseller. I get that.

[00:34:35] But there's also situations where it could work to your advantage. All right. So gauge, you know, gauge the situation or the conversation if you're talking with somebody. But in most situations, it's not going to hurt if you communicate exactly what it is that you're looking for. And remember, other people, if they're selling jewelry, they want to make money too.

[00:35:01] And they will be more than happy to offload it if the deal works for both of you. Okay. So just remember that. And then finally, I want to encourage you to experiment because as a beginner, you have the freedom and the flexibility to try different things that someone several years into this may not necessarily have that, you know, flexibility to try.

[00:35:30] You know, you can try selling on a certain platform. You could try selling on multiple platforms. You can try selling one type of jewelry versus another. All right. But in the beginning, you're still trying to figure out what works for you, what sticks, what makes sense. All right. So you really want to give yourself the opportunity to figure that out. All right.

[00:35:54] So don't be afraid to experiment and see how you can do what you need to do in a way that you need to do it. All right. Okay. So we've talked about a lot today. And again, I really want to give you as a beginner, the best information that I possibly can in order to help you get started as a jewelry reseller.

[00:36:21] And so if there's something that I may have missed or something that you think I need to expand upon, please don't hesitate to let me know. Okay. All right. So let's go over everything. We talked about the places to source jewelry. We also talked about what to look for when sourcing jewelry.

[00:36:41] I also covered a little bit on how to spot high end or high value pieces when you're sourcing jewelry. We talked about some of the red flags to avoid, you know, things that we want to be careful about. And then finally, we talked about practice, being persistent, discipline, consistency,

[00:37:07] and using those habits to your advantage as a jewelry reseller. All right. So if you're getting started, understand that this is definitely a journey and you're going to have ups and downs. You're going to have challenges, but you're also going to have a lot of wins. Okay. Because this is fun. Now, I know a lot of people just love jewelry and that's why they do this.

[00:37:36] And that's a big reason why I do it too, but I also do it to make money. And I'm not ashamed to say that. And I'm not ashamed to admit that in any way, because this, like I said, is a legitimate business. And this is something that I have used to pay the bills for several years and I love doing it. All right. And that's part of the other reason why I do this podcast, because I know I'm not the

[00:38:02] only one out there who feels this way and who has a passion for jewelry and who would like to figure out a way to make money while we stay home and handle our responsibilities and take care of our families. All right. So if there are other areas I may have missed as it relates to sourcing, please don't hesitate to let me know and share it in the comments because it could help all of us. I know a lot of people don't like to reveal their honey holes. I get that.

[00:38:31] All right. As you do this, you will find your own honey holes as you kind of move through this journey. But that is all I got for you for today's episode. So let me make sure that we are still, yes. Okay. We're still recording. All right. So remember there's three components to a reselling business, specifically a jewelry reselling business. There is sourcing, there is selling, and then there is.

[00:39:01] Service and shipping. All right. So today's episode was a discussion about sourcing and how to source and where to source and the things you need to think about as it relates to sourcing. In part two, we're going to cover selling. All right. Now this is going to be huge because there's a lot to cover as it relates to selling or reselling jewelry. All right. For us and for our business. All right.

[00:39:31] But today we talked about sourcing and you have to figure out what your system is going to be for sourcing. Okay. And when I talk about system, it's the habits or the practice, the practices or the disciplines that you do consistently in order to have the inventory that you need in order to keep your business afloat in order to keep your business going. All right.

[00:39:57] So do you, uh, your system could be, I go to 10 thrift stores every week. Like you just do that. That's just what you do. All right. Your system could also be, I check online websites every single day to, uh, buy the, uh, jewelry pieces that I need to sell for the following week or the following month, whatever. All right. Also, the other thing you need to think about as it relates to your system is your budget.

[00:40:23] How much money are you spending per week or per month as it relates to your inventory? Okay. Are you spending a thousand dollars a month? Are you spending a thousand dollars a week? Like what exactly is it that you're, uh, doing? What is your system set up for? So you can have the pieces that you need in order to flip and make that money. All right. And then you just repeat this every week or every month or however often every day, even whatever it is. All right.

[00:40:50] It's just a, a set of rules. And like I said, disciplines and practices, uh, that you do no matter what. So you can have the business that you want and make the money that you want to make. All right. I probably should do a podcast episode on systems. I might have done it. I just don't remember, but if not, you know, I can always do an updated, an updated episode on that. All right.

[00:41:19] So again, if you have any questions, please drop them in the comments, or if you're in the Facebook group, don't hesitate to tag me in there. Um, cause we've got a lot to cover, but I'm telling you 2025 is going to be a fantastic year for resellers in general. Um, the data shows that people are actually shopping this way and that the demand is only increasing for secondhand goods.

[00:41:46] And that obviously we're talking about jewelry, but that just goes across the board. All right. People are looking for deals and people are looking for quality. Right. And, um, I think that there's a lot of opportunity for us to really win at this. All right. And I'm going to do everything I can to help you win. All right, friends. So I hope you enjoyed this episode. Um, yeah, that's all I got for you today.

[00:42:10] So I look forward to seeing you for part two, which will be, um, all about selling. All right. So thank you so much for spending this time with me. I'll check in with you again really soon.