This post is going to look at some of the nasty tricks that some in the industry uses to catch you and how you can use them to your advantage.
These are not only used within the jewellery trade but also in many other industries as well this will help you out in many other parts of your life whenever you are making a purchase.
1. Why do we believe more expensive equals better.
The first thing to note when it come to making a purchase we all think we make the decision on purchases this is very far from the truth. with very clever marketing and subtle psychological tricks we a cohersed into believing we need a particular item. A perfect example of this is when we go shopping we may want a can of baked beans but somehow the named brand almost always appeals more than the no name baked beans. Although we know that it is almost an identical product and in some circumstances they are identical just labeled differently, we still feel the need to purchase the name brand. The reason we do this is because we are made to believe that it is a better product and that we need that product over the "lesser" no name brand. This is especially true with engagement rings more can be read by Clicking Here.
The same can be said when it come to jewellery purchases off a major retailer or a larger brand of jewellery, we are made to believe that it is better. However, in many cases both large and small retailers get their pieces from the same suppliers this means they are identical purchases. This is something that you as the consumer need to pay attention to because some major retailers can be more expensive than the smaller retailers. Keeping in mind that larger retailers have a bigger buying power they however, still choose to inflate their prices even though they have lower wholesale prices.
2. The dirtiest secret of them all.
Some major and even smaller retailers will add a care-plan on the unsuspecting consumer. There plans can cost hundreds of dollars and offer not much more than what your statutory rights under law give you. These plans prey on the fact that many consumers do not know their legal rights therefore, making you pay for something you already have essentially. Some will add this to the purchase price without your knowledge (at the time this was written one major jewellery retailer was doing exactly this and received massive fines for doing so, we cant name them due to legal reasons so beware).
3. Two minutes of work and $3 can save you more than $15
Another thing many inflate prices with is polishing of jewellery they will charge $15 and up for this service. We can tell you now if your piece has only lost it's shine it can be restored using some toothpaste and a toothbrush and gentling working over it (excluding some pieces). In most cases this will bring back a shine that most are happy with, for the cost of a cheap toothbrush and a small amount of toothpaste. If you are happy paying $15+ or you want your piece to have a mirror finish sure take it to a jeweller but if you just want a shine try our method you will be surprised.
4. The shocking truth of most specials
Finally the biggest trick used in the industry is to inflate the prices then offer them on "special". An example of this is a ring is advertised for $500 they then have a 50% off special this means you only pay $250 this makes you think it is a bargain so you are more likely to purchase, keeping in mind that even when on special the retailer is still making a profit off that purchase. Someone might say but that is illegal and they would be correct, retailers find ways around this, this is how they make money they know how to work around it so they are not breaking the law.
Make sure before you make any purchase that it is indeed what you want and not what you have been to believe is what you want. Especially when it comes to engagement rings retailers will fool you into thinking you need something more expensive than what you really do. Make sure that your purchase isn't the same in a smaller retailer for less you'll be surprised how much you can save especially because many of the items are identical. Ensure you know your rights as a consumer many businesses prey on the fact that most are oblivious to what they are entitled to, if you are offered a care plan ensure that it is value for money remembering retailers do this to make money they won't offer a plan where they lose money, check your receipt before you leave to ensure they haven't added it without your knowledge. Finally, before you purchase anything on special make sure that it hasn't been inflated.
Remember, from our example above if you were not going to purchase that item anyway you haven't saved $250 you have just spent $250 they you were not going to spend. beware of the tricks businesses use in the jewellery trade but also in other industries too. This list is not exhaustive but only an example of some tricks that are used. if you want to test it out next time you are watching TV you will notice different types of ads depending on time and what show is on.
Be on the lookout you will be surprised at how often they are used.