Help me negotiate fair price!

Phillyfan

O.G.
Nov 25, 2007
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I bet a lot of people will read this thread and not post a response cause they have no interest. :sad: That is ok! But for those of you that might know - please tell me what you would do. I fell in love with an art deco bracelet. And I finally tracked down exactly where it came from. It was purchased just over 2 years ago at an auction house for $3500 by a private jeweler to resell and make a profit.
So after examining, polishing or steam cleaning or whatever they do to estate jewelry - what do you think is a fair price? He has had it for just over 2 years and now I come along to purchase it. He is asking $5200. Thoughts? Please figure in the rate of inflation and a fair profit for the jeweler.
 

LVoeletters

only the best
Aug 13, 2011
6,337
176
constant state of wanting sparkle
It's difficult to answer your threads without pictures and specs and more information. If you can provide that I'm sure you'll get some knowledgable and helpful answers. Good luck, Art Deco jewelry is fabulous.

It does seem a high price for an item sitting for two years though.
 

Phillyfan

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Nov 25, 2007
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297
I'm afraid to ask to take a picture. A lot of boutiques do not allow it. But I agree with you - pictures would definitely help. I wonder if I could talk him down - at least to $5000. But kind of wanted to know if I'm out of line. You would think he would want to unload the bracelet. And I could purchase t another bracelet, even "new" for the $5000 price tag. But it would be in 14 carat white gold. I'm loving the platinum on the art deco. Do I even tell my jeweler that I found where, when and how much he paid? Don't know if that will be beneficial.
 

mrsinsyder

Member
Mar 8, 2013
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Florida
I don't really see how TPF can price an unknown item for you... I think it would be best to just negotiate with your jeweler, let him know that you are aware he's had the piece for a couple years.
 

k*d

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Aug 2, 2007
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743
What do you think is a fair price? What's the highest you'll go? Just bring that in cash and tell him to take it or leave it.
 

jellyv

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Mar 29, 2006
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6,129
What he bought it for is really irrelevant. He could have paid $29 for it. He will want close to its market price, most likely with some allowance for bargaining.

Also, you don't know that he has had it sitting around unsold for 2 years, just that he acquired it 2 years ago. He might not have gotten it ready for marketing until last month...or it was in use by a relative, or whatever. The point is, you don't really have the facts to know his eagerness to sell it until you start negotiating.

Try offering 15% below the asking price. Maybe 18%. I think you can virtually count on 10%, but more off than that is a guess unless you know his general flexibility, based on other experience. Without that experience, you can only try.
 
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katierose

Loves Charms & Bags
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Feb 17, 2009
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What he bought it for is really irrelevant. He could have paid $29 for it. He will want close to its market price, most likely with some allowance for bargaining.

Also, you don't know that he has had it sitting around unsold for 2 years, just that he acquired it 2 years ago. He might not have gotten it ready for marketing until last month...or it was in use by a relative, or whatever. The point is, you don't really have the facts to know his eagerness to sell it until you start negotiating.

Try offering 15% below the asking price. Maybe 18%. I think you can virtually count on 10%, but more off than that is a guess unless you know his general flexibility, based on other experience. Without that experience, you can only try.
Agree. In situations like this I usually ask if the price is negotiable, and if it is, the seller will offer the lower price, and one can get a good idea of what/how the seller is thinking. In all honestly, I usually accept the offered lower price if I think it's a fair/good price for the item. If not, I counteroffer, but I know that often doesn't work, but nothing lost if I'm not willing to pay the sellers price.
 

skyqueen

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Aug 5, 2007
16,612
7,712
As other people have posted, it's hard to answer your question without pics and more detail. I'm assuming it's the same art deco bracelet in plat with diamonds and lab created sapphires.
The way I look at it, with the weakish economy, a jeweler would want to turn over inventory...that is a plus for you. Also art deco jewelry appeals to a specific group of buyers...another plus for you. If it's a highly unique bracelet he may want to sit on it and eventually get the price he's asking...a plus for him.
Don't hold me to it, but I would offer $4500. That would give him a net gain of 1K AND a sale.
Hard to negotiate without more details, but you obviously love this bracelet so it's worth a try.
 

Phillyfan

O.G.
Nov 25, 2007
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297
skyqueen - Thanks for your advice and also thanks to all others posting on this thread. A lot of good points have been made. I agree that economy is weak. I also don't think July and August are likely big selling months in the jewelry business. Not like Valentines Day, Mothers Day and Christmas. I agreed to a price before I found out that he paid $3500 for it at auction. I'm ok with the agreed upon price as long as tax is included. Yes, the bracelet is described on auction archives as art deco box link double line synthetic sapphire and diamond set in platinum. I dream about it every night. But I am still learning and keeping my eyes open to be certain there is nothing else. I'll keep you posted!
 

jellyv

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Mar 29, 2006
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6,129
I don't understand what this thread was about then, if you already agreed to a price and aren't going to negotiate. :confused1:
Well, never mind then.
 

Phillyfan

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Nov 25, 2007
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jellyv - I'm really sorry for not being clear in how I'm expressing it. I guess I did not fully agree if the bracelet has not been placed on any type of layaway or hold. I agreed that I want it and want to bring my husband back to look at it. But maybe since the jeweler knows that I seem ok with price, then I can't go back to talk him down. It is fine though. I have never bought an item from a jewelry store other than Tiffanys and Cartier. And their prices are set. This is a whole new experience.