Andrew & Peter Fabrikant - the Nationwide Leaders In Diamond & Estate Jewelry Buying - Release Jewelry Selling Habits Study

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The nationwide leaders in diamond & estate jewelry buying, conducted a survey in which they determined why different people sell jewelry and what types of jewelry people sold.

jewelry, selling jewelry, reasons to sell jewelry, diamonds, gold, watchers, gems

Why did you sell your jewelry?

More people are realizing that jewelry buyers, like us, give sellers the best prices. We ourselves, value jewelry that comes into our store not just on the value of the stone or materials, but also on the demand and history of the piece.

There are concrete reasons people sell jewelry and the stigma attached to the idea is easily dismissed. Andrew & Peter Fabrikant, the nationwide leaders in diamond & estate jewelry buying, conducted a survey in which they determined why different people sell jewelry and what types of jewelry people sold.

After conducting a scientific poll Andrew & Peter Fabrikant found that of the 65.33% of people that admitted that they had sold some of their jewelry, 27.27% had sold their engagement rings or wedding bands. Why would people sell these items? Well, Andrew Fabrikant, Partner at Fabon5th.com, proposes, “When people go through divorces or become separated from their spouses, sometimes they will sell their jewelry that brings back bad memories. Others sell engagement rings to finance the divorce itself, or find it important to sell when a new serious relationship is forming. Most sellers find it a cathartic next step in life.” In fact, this idea was supported by the fact that 18.18% of the participants who took the survey used these reasons as a motive for selling their diamonds and jewelry.

One of the other intriguing aspects of the Andrew & Peter Fabrikant survey is that the highest number of people admitted that they felt it was necessary to sell some of their jewelry in order to escape debt. 27.27% of respondents who admitted to having sold jewelry used this option as their rationale. Peter Fabrikant, Partner at Fabon5th.com, notes that, “This finding makes sense as one might look to sell some unwanted jewelry to mitigate the consequences of debt.”

This argument raises an interesting idea, as it assumes that some of the jewelry that people sell is “unwanted.” This idea is also supported by the survey, which found that 27.27% of people sold their jewelry because they felt that they no longer enjoyed having the item. Additionally, 13.64% of respondents claimed that the item was a gift that they never had liked and 4.55% of respondents claimed they sold family heirlooms that they didn’t like.

A third interesting fact is that 98% percent of respondents sold diamond and gold jewelry because they knew that prices for these jewelry items are at or near historic highs.

And where exactly did most of the respondents sell their jewelry? The Andrew & Peter Fabrikant study found that 36.36% of respondents went straight to a jewelry buyer. Andrew Fabrikant, suggests that, “ More people are realizing that jewelry buyers, like us, give sellers the best prices and allow them to get the most ‘bang for their buck.’ We ourselves, value jewelry that comes into our store not just on the value of the stone or materials, but also on the demand and history of the piece.”

A final intriguing factor discovered from the survey included what people did not say. There were no respondents who selected that they used traditional means of selling like Auction Houses, or successfully used online sites like eBay or Facebook. Only 9.09% used Classified Ads in their local newspapers and 4.55% used Craigslist as a means of selling lower priced items. When asked about why they had sold their jewelry, no one responded that that they wanted to pay for a vacation or shopping spree. But that they wanted to help pay for retirement, that they were unemployed and needed the proceeds or were helping to support a family member.

Andrew & Peter Fabrikant, Fine Diamonds and Jewelry (FabOn5th.com), are nationwide leaders in diamond & estate jewelry buying. They specialize in signed and unsigned estate jewelry (pre-owned jewelry), diamonds, watches, gold and other fine jewelry from anywhere in the United States. With four generations and more than 100 years in the jewelry trade, they have an established name of assessing each item of jewelry not only for its intrinsic worth but its aesthetic value, its market desirability and history. Andrew & Peter Fabrikant will guarantee any and all purchases for quality and price. For more information call 1-800-570-Gems or visit http://fabon5th.com.

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Lisa Gordon
HJMT Public Relations
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