#54 - It's Called Greed, Be Careful When You Sell

Posted on Thursday, December 5th, 2019 at 7:41 am by LaLonde Jewelers

I recently realized that I passed a milestone, I glanced at my Gemologist Certificate and saw that I received it on November 21st, 1979. This was exactly 40 years ago. So, I have seen quite a bit in these years. One thing that has always mystified me is people’s greed.

People have possessions that they want to sell, granted it belongs to them and they would like to get as much as they can. When they want to sell jewelry, coins or collectibles, they come to me.

Now when a person comes in and wants to sell their diamond and I offer $5,000 dollars and the reply is “I would really like to get $7,000”. They go to two other places and they get offered $5,200 and $4,800, there is a good chance that it is worth right around $5,000. These are cash offers and you should take it. But no, they go to another and he says, “oh you want $7,000? I can get you that, leave it with me.” From my experience that person isn’t intending on paying you. There is no money to be made if he was to pay you the $7,000. He is going to sell it for less and use your money for as long as he can and maybe never pay. You in return will have sleepless nights, hours of calls, chasing your money and maybe never win.

It was greed that motivated your situation.

Had you taken the $5000 and paid on your mortgage, your payment may have dropped forty or fifty dollars a month, in no time you will have saved $2,000 and Bam!, you are up to the $7,000 you wanted for the diamond.

You can’t worry about how much the person who bought your diamond is making. Let him make some money. Wouldn’t it be great if that person is still in business when you want to sell another diamond?

There is a saying, ‘The rich get richer’. There is a reason for that. They stay away from as many situations as possible not to borrow money and pay interest. Unload things and take what ever cash you can and stop any bleeding you can.

I have seen so many situations where people have fallen into situations of listening to someone who promises unheard of amounts for items or exuberant returns, to good to be true kinda thing. Well, it is to good to be true. This is the Bernie Madoff telling you what you want to hear.

Start with going within yourself, circle the wagons, tighten your belt and stop the bleeding. If you take the greed out of your thoughts, and in no time, you will be back on top and enjoy your life more than ever.

Written by Dan LaLonde, G.G., G.I.A.
Lalonde Jewelers & Gemologists
The Gem Expert