2nd Hand Prices explained
SECOND-HAND PRICES EXPLAINED
Like many other types of goods, jewellery, antiques and other valuables depreciate significantly after initial purchase. Just like the second-hand value of items such as cars or electronics, these items can depreciate markedly in their second-hand state.
This means that high-street prices of new items will always be far higher than second-hand valuations.
It is a generally accepted industry standard that the original retail price of jewellery can be as much as double the wholesale price, and this retail price also includes a further 20% VAT or a similar sales taxation.
Therefore, unless the piece is antique, second-hand jewellery generally commands between a third and a fifth of its original retail price.
At 62days, we operate solely within this second-hand market; we do not create such depreciation conditions, we simply operate within them and we believe we offer extremely competitive rates for valuables and jewellery within this market.