A Jewelry Auction Can Save You Time and Money
Buying anything in an auction can be risky, but a jewelry auction can be especially risky. If you take a few precautions though, you will surely be happy with the jewelry and the price you get from a jewelry auction.
One of the biggest risks you run when bidding in a jewelry auction is that the item will not be as valuable as the seller claims. You may have heard that Tiffany filed a lawsuit against eBay for offering fake jewelry as the real thing. While eBay has successfully beat similar suits, this brings up the prevalence of this problem in a jewelry auction.
The first thing you can do to protect yourself when bidding in an auction is to check the seller's feedback rating. Look at more than just the satisfaction rating displayed on the same page as the item being offered in a jewelry auction. Look at how current the feedback is. If there have been any negative comments in the last few months, read these carefully to see what problems the buyer had. Never bid on an item in an auction from a seller with a negative feedback rating.
It is always helpful to do a little homework before bidding on an item in a jewelry auction. Compare the photo of the item to photos of similar items. If there is a similar item for sale in another jewelry auction, see if the prices compare. Also see if the seller has any verification of the authenticity of the item.
It is always a good idea to see what the seller's return policy is in a jewelry auction. Also, look carefully at what your payment options are. Beware of any jewelry auction that wants you to send cash or an instant wire transfer. These transactions cannot be tracked. Also, avoid sending a personal check to a seller in an auction. You don't want a stranger to have your checking account number. In a high price jewelry auction, consider using an escrow service that holds your money until you have received the item and then releases it to the seller.
A jewelry auction can be a great way to get a bargain price on fine jewelry. However, before bidding in a jewelry auction, do a little homework and make wise choices.
