Where to Find the Best Bargains.
You will usually find your very best bargains from private parties. The problem here is often they do not know the market value of their jewelry as they either overpaid for it in the first place, or they got it from someone who claimed a higher value than it was worth. You would have to prove that they were knowingly attempting to cheat you before having any recourse if the piece was misrepresented. This is why it is improtant to be knowledgeable on the subject.
Another place where you can sometimes find good bargains is a pawn shop if you can stomach the atmosphere. Be sure you get a receipt for your purchase and have it checked by someone knowledgeable afterward so it can be returned for refund if necessary. The best story I heard was a gemology student who spotted a fine Columbian emerald in a pawn shop and bought it for $500. She sold it to a jewelry broker for $15,000 who got $45,000 from a customer.
If you dont mind spending the time looking, you can find bargains at garage sales, estate sales and flea markets that specialize in old, not new, stuff. There are "pickers" who make a living at scrounging these sales and selling their finds to dealers at a profit. We love our pickers and they certainly earn their money.
Estate auctions sometimes provide bargains if the piece has no minimum or reserve on it. Here you have to be willing to wait for a piece you want, but is not wanted by many others. Occasionally you can buy below scrap value, if you are lucky. Stay away from fancy auctions held in posh hotels with free food and booze. Their jewelry is usually reproduction, and even if they say it is an absolute auction with no minimum, they sometimes have shills bidding against you.
Antique shops and antique shows are good places for bargains. You will often find jewelry at close to half its appraised value, and here too you should get a full description written on your receipt so that you can return an item that has been misrepresented. It is rare to find one misrepresented knowingly, and most dealers will refund your money without question if it is done in a timely fashion.
You'll rarely find any bargains at a fancy estate jeweler or a retail dealer in contemporary jewelry. Here you will find larger selections, but higher prices. If you have the money and not a lot of time looking for bargains, this is probably your best bet. Don't forget to haggle as you can often get a twenty to fifty percent discount from these people if sales have been slow. Retail jewelers often advertize gold at 50% off, but it is off a price double the real value. JC Penny
was indited a few years back for this practice, but they showed that it was a common practice in the trade, and got off. Good hunting!