Can Emotional Spending Derail Your Financial Plan? According to a 2013 study, when you are sad, stressed or anxious, you tend to resort to retail therapy to turn your mood around.
Invest in GOLD and give a boost to your investment portfolio
Smartest investment and life plans in UAE
Investment in jewelry could be profitable in case you know the ways to do it properly-
Selling old gold jewelry can help you in covering a lot of your financial requirements. Your investment in jewelry can be profitable for you if you know the correct way of doing it. And, there are various methods of doing it in the wrong way. Fortunately, in this article, we have listed plenty of resources for helping you in making the best and well-informed decisions in the venture. Read on to know whether the investment in jewelry is the right decision for you or not.
First of all, let us follow a jewelry piece from the time of its inception to its final sale.
Metals and jewels get mined, processed, sent to the laboratory, and then sold to the manufacturers.
The manufacturers create the jewelry pieces and should sell it to the wholesalers at a cost, which will cover the price at which they buy the item, covering the operating costs, and turning a profit.
The wholesalers then sell these jewelry pieces to the retailers at a cost, which will cover the cost of wholesalers for buying the item, covering the operating cost, and turning a profit. Consequently, the retailers should sell the items to the customers at a cost, which will be suitable for you. After a diamond ring is slipped into your finger, it’s been marked up 3 times.
YOU CAN ALSO CHECK HERE 10 Best gold Shops to buy gold in Dubai, UAE
Do your research always.
In case you have your attention on a thing that seems to be timeless and attractive, you should look around for such similar items & see the amount they are selling these for. You might find a suitable deal on the auction site only for finding that the retailer near you is selling these items at a lesser cost.
It is very important to know that not each high-quality jewelry piece will essentially rise in terms of price- even the vintage and older pieces. In case you have made up your mind for investing in jewelry, no matter from an auction house or a wholesaler, here are a few go-to iconic trends on the pieces that have long-lasting value.
The experts in the field encourage people that they should not put all the eggs from the nest in a single basket, irrespective of the kind of investment. However, the advantage of jewelry in comparison to stocks and banks is the following-
It is impressive, it is beautiful, and one can easily hand it down to their kids as something that holds financial, personal, and emotional value for them. If the investment in jewelry is done correctly, then this jewelry can secure a considerable amount of profit, which can be beneficial for your family for many generations. In fact, one can use their jewelry for meeting their financial requirements rather than opting for a personal loan.
There are various benefits of selecting jewelry as an investment as it is famous for being a secure investment in the long-term.