#47 - Can I Buy Your Magic Bus?

Posted on Thursday, August 29th, 2019 at 6:50 am by LaLonde Jewelers

Throughout the years I have had to quote prices on purchasing jewelry, always looking for that Magic Bus. It is usually something that is no longer wanted, maybe a divorce, a handed down item or a piece that is no longer in style. Whatever the reason, I am the one that had to shoot from the hip and make the offer. Now I’m a big boy and I can live with my decision, but it is good to have all the years of experience to minimize the risk.

I often hear the phrase “do you know what I paid for that?”

I always ask them how much they paid for that Pinto car and drove it 10 years and what do you think you can get for it now.

Well that really doesn’t matter. Things go out of style and are no longer desirable. Things wear out and are no longer wearable.

I remember the two women who brought me three pieces and asked if I would purchase them. “they were from our mother and we don’t like the style and our other two sisters don’t like the style”. So I made them an offer and they were astonished at what they thought was a low offer. “Do you know how much our mother paid.”

Let me get this straight, you don’t like them your sisters don’t like them, what makes you think that my clients are going to like them?

Now I understand that a person would like to get the most they can for their pieces. I can’t blame them for that. The thing is, each piece has a certain value to me, do I have too many of those, is it not in style at the moment, many, many factors.

I tell them, “Walmart is not going to stock their prime space with items that are not moving.”

So, I like the story of the person who hears my offer of $1,000.00 dollars and says "the other jeweler offered me $2000.00." Well, go get it. "Well, they don’t buy jewelry."

This reminds me of a story.......

A butcher had ground beef for $4.00 a pound and the client said, " The market across the street sells it for only $2.50 a pound.” Go get it. "Well, he is out." The butcher replies, "When I’m out it's only a dollar a pound."

You know there are casinos all around here and I never go. That is because I get my Jones’s right here, making offers on people's items.

And every once in a while, I pay “too much for that Magic Bus”