Pre-owned luxury goods are everywhere these days, and for those who have just a small amount of time on their hands and the will to find stunning bargains, the rewards are great. At the other end of the spectrum lie the fakes, damaged goods, and other problem items that really aren’t worth your time or your money.
Mistake #1: Failure to Research
Finding pre-owned luxury goods for sale can be very exciting, and sometimes that excitement can get in the way of reason. Before making even a small investment in an item that appeals to you, do a little research to ensure that it is worth buying, and that it is something you really want. This piece of advice holds true whether you want the item for yourself, or if you are planning to resell it once it has arrived. Purchases driven primarily by emotion are often mistakes.
Mistake #2: Failure to Authenticate
Unfortunately, cheap knockoffs are everywhere. Fake watches, handbags, and jewelry are abundant. If you’re an expert, you may be able to authenticate items yourself once they are in your hands, but as many of the best deals are found online, it is absolutely vital that you purchase only certified, authenticated goods.
Mistake #3: Failure to Have Items Appraised
Some things don’t require appraisal – we’re talking coveted designer clothing and other lower-value items. Others, including luxury watches and jewelry – particularly if it contains diamonds or other gemstones – absolutely must be appraised prior to investment. A professional, unbiased appraisal such as Worthy appraisals, an appraisal from a trusted local jeweler, or a GIA appraisal is a must-have.
Mistake #4: Buying Items without Guaranteed Returns
What happens if the Birkin bag isn’t just right, or if the diamond ring that arrives in the mail doesn’t exactly match the description and photos that accompanied it at auction? You ought to be able to return items if they are not what you paid for, so ensure that you purchase only from sellers and companies that guarantee returns when warranted.
Mistake #5: Failure to Read and Understand Business Policies
Honest sellers have honest business policies, and many have some great reviews behind their names. Whether you are purchasing from a pawn shop, a consignment store, an eBay seller, or someone else, there should be a clear understanding concerning all costs associated with the purchase as well as other details surrounding the transaction. Dishonest sellers often drum up excitement, offer deals that seem to be too good to be true, and resort to other shady business transactions.
Mistake #6: Failure to Communicate
Communication should be open and honest, no matter what type of pre-owned luxury items you are purchasing. Motivated sellers are happy to answer questions, and they never hesitate to provide information. If a seller seems dishonest or recalcitrant, or acts as though they don’t have time for you, find a different seller to deal with.
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