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How to Afford Expensive Jewelry

how to afford expensive jewelry
Depositphotos ID: 17586545 Copyright: Forewer

Let’s face it. There’s nothing quite as wonderful as seeing some bling on your finger. It can make your day and give you a boost of confidence. The trouble comes when you’re trying to figure out how to afford expensive jewelry. You love it. You want to have it, but your budget doesn’t allow for it. So, here are some easy ways you can buy the jewelry you love and deserve.

How to Afford the Jewelry You Want Most

If you don’t have a six-figure job, it can be tough to come up with the cash to buy expensive jewelry. 

As you walk by the jewelry cases drooling over all that sparkling goodness, you may think you are never going to be able to buy what you truly want, but there are ways to make your dreams come true. Here’s some of the best.

1.Buy Loose Stones

The truth is, you can get loose stones cheaper than ones that are already set. 

There are a couple of advantages to this. One, as I just said, you can save some money, so they are more affordable.

Secondly, you can see the full stone to ensure you are getting the quality you are paying for. It is easy to hide flaws in a stone that has been set.

These are a few loose stones I happen to have. The green ones are 3 oval cut emeralds for a total 1.80 ct and the yellow are Imperial Topaz.

Copyright: The Money Pixie

It would be pretty easy to have them made into something. I’m just not sure what I want to be done with them, so for now they sit in my jewelry box.

I suppose I should take my own advice in tip number 2!

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2. Sell What You’re Not Wearing

We’ve all done it. You buy a piece of jewelry that you just love and must have and then you find you don’t wear it much. 

Maybe it was a bit trendy and you’ve moved on to a new style.

Whatever the reason you don’t wear it, if it is just taking up space and never seeing the light of day, then you should sell it.

This is a great way to help finance that next new piece of bling that you can’t live without.

Not to mention, if you are buying loose stones, you can turn some of them into finished pieces of jewelry and sell those, so you can add that money to your stash.

Depositphotos ID: 15733243 Copyright: rossella71

3. Buy Jewelry Online

Both Etsy and eBay, not to mention Facebook Marketplace are all great places to find the jewelry you want for less.

A lot of what you will find is pre-owned, but there’s nothing wrong with that. Besides, vintage jewelry is the best.

I know that when I decided I wanted a vintage turquoise ring, the first place I looked was eBay. Man oh man, there were hundreds if not thousands of them I all shapes and sizes and price ranges.

It was hard to decide which one to get. In fact, I’m still figuring that out.

Etsy is the same way. You’ll find pretty much anything you are looking for. 

What’s nice about eBay is that you can set up searches, so if you’re looking for a loose 5-carat diamond you will be notified whenever one is listed.

I do this a lot for things I am looking for and I get an email from eBay every morning with new listings. It saves me the trouble of wading through 100’s or even thousands of listings to find what I want.

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4. Make Sure You Bargain

I know it can be tough to ask for a lower price than what is displayed, but if you don’t you are really cheating yourself. 

Regardless of where you are buying your jewelry, you should offer a little more than half of the listed price. They won’t take it, of course, but keep pushing.

When you are buying a piece of jewelry think about it as if you are going to war. There can only be one winner and you want it to be you.

When they say no, keep looking around or even leave and then come back and suggest a price that is just a little bit above the first price you offered. If they reject it, ask them their bottom price and then offer less.

If you keep this up long enough – leave, come back, offer less than they want, and repeat, eventually they might just sell you the jewelry you want at the price you want or just a bit more.

You kind of have to be shameless about it and have the confidence to keep at it.

If you can do it, it is a great way to make expensive jewelry a lot more affordable.

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5. Don’t Buy From Someone You Know

This goes back to the last point. You want to bargain and push until you get a good price. You don’t want to do this to a friend or even a friend of a friend because you don’t want to put them into a difficult position of having to say no or to having to sell you something for less than they want.

If you are going to be hard-nosed about bargaining, do it with a stranger and keep friends and family out of it.

Depositphotos ID: 85522084 Copyright: belchonock

6. Don’t Forget the Pawn Shops

Pawn shops are great places to buy expensive jewelry. You can expect to get 40 to 60 percent off the retail price.

Years ago when I was down and out and had no money, I sold a loose 1-carat diamond to a pawn shop. 

People do it all the time when they need some cash. And they certainly sell more expensive jewelry than my little diamond. 

You may have to check a few pawn shops or check in often to see what they have received, but sooner or later you will find what you want at a great and affordable price.

Don’t be surprised if you find jewelry worth thousands and thousands of dollars in a pawn shop. Rich folks get in financial binds just like the rest of us.

7. Check Out Estate Sales and Auctions

When you see estate sales in your area, check them out. An estate sale is different from a yard or garage sale.

In a yard or garage sale, people are just selling some of their stuff to make extra money. In an estate sale, it means someone has died and everything – including their jewelry – is being sold. 

Some of that jewelry can be the expensive kind and you can get it for a great price.

For those with large estates, they may end up at auction houses. Check these out as well because depending on who ends up at the auction some expensive pieces could go for pennies on the dollar.

8. Cut Back on Everything Else

If expensive jewelry is a priority for you and you have a tight budget, cut back on everything else. 

Get a smaller, cheaper apartment or home. Ditch your car and take public transportation. Don’t eat out. Don’t get coffee out.

You get the idea. See where you are spending money now and stop buying those items or get rid of items that cost you money – think cable TV.

You should be able to free up hundreds if not thousands of dollars per month and you can now spend it on expensive jewelry.

Related Questions:

Can You Negotiate the Price of Jewelry?

Yes…yes…yes, you can. In fact, you can negotiate the price of jewelry pretty much no matter where you are buying it. That means even the really expensive jewelry stores like Tiffany and Company. 

To Sum it All Up:

There are some pretty easy ways to make expensive jewelry affordable. Buy loose stones, buy online, go to an auction, or reduce your monthly expenses. All of these can help you find expense jewelry for less.

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