One of the best kept secrets in retail is just how much things are marked up. This is to be expected because the manufacturers and sales companies need to make a profit, but just how much the real value of the item is can be surprising when you see what is being asked for it. And nothing is as market up as jewelry.
Speaking as someone who worked in a jewelry store, you wouldn’t believe the amount of markup. We’re talking a $2,000 items that only costs a few hundred dollars. Yeah, it’s that much. (Don’t believe me? Look at this: http://worldeconomy-wingate.blogspot.com/2010/12/buying-diamond-ring-beware-of-huge.html)
Unfortunately, jewelry has been engrained in this society as “THE GIFT” that you give to your closest loved ones, whether for engagement, anniversary, or other special occasion. So how do you go about getting a nice gift without breaking the bank and being taken for a fool?
Well, you generally have 3 options.
The first is to look in places like craigslist for people selling their old jewelry. These items can be cleaned and resized and placed in a nice box. The downside is that the person will probably try to get more than the item is worth. Occasionally, though, you can get a good deal this way.
The next is through a local pawn shop (like a pawn shop in Ft. Lauderdale located). People often pawn jewelry (despite not really having any real value) and this can be a good place to find a deal. You may find yourself needing to do a bit of haggling, but you can get it done.
Finally (and probably most reliably) is to look online. Places like eBay, Amazon and Overstock sell jewelry for an affordable price. You can actually find really nice stuff for cheap this way.