Selling wholesale jewelry is a great way to make extra money or start a new business.
One of the most exciting products to sell is jewelry; earrings, rings, bracelets, diamonds, emeralds and other gem stones, gold, silver, and platinum.
The reason jewelry is so exciting is because most of the products are considered art, valuable, and often very rare. Because of their allure jewelry products are extremely popular, making the process of buying and selling them exciting and profitable. The high profits that can be attained from selling jewelry make this business especially alluring. The reality is that with an investment as low as $200, you can buy a rough stone, polish it, turn it into a gem, place it on a ring, and sell it for $1,500 or $2,000.
The best part is that you do not need to own a jewelry store; money can be made in the whole process of trading gems and other precious items. Imagine being able to import products from Thailand, China, or India and selling them for 1,000% profits. That would make anyone excited! Even if you just buy and sell wholesale jewelry and make a 100% profit it’s exciting; especially considering that a wholesaler making 10% to 30% profits is above average.
Cost of wholesale jewelry
Have you ever wondered how much wholesale jewelry actually costs? Of course there are the costs associated with the raw materials like gold, silver or platinum, as well as the costs of gems that vary in value like diamonds, emeralds, and rubies. There are also the costs of watches and other type of functional jewelry that vary depending on the movement and technology.
What’s really interesting is the wholesale jewelry cost structure. The amount of money it takes to produce and ship these products is usually very little if it’s done in China, Thailand, Mexico or other Latin-American countries. Production is inexpensive because of the labor costs in these areas. Shipping is inexpensive because of the size of jewelry. You can fit 100 gold or diamond rings in a small box. In reality, the bulk of the price of wholesale jewelry comes from the cost of the raw materials.
The retail price for the same jewels can be 10 times higher than what the “raw value” is. That’s what makes this wholesale business exciting. You can buy something for $30 and sell it for $100, even for $200 or $300. I’ve even seen wholesale costume jewelry that I know is very inexpensive to make, maybe $25 in manufacturing costs, selling for up to $350 a piece.
The convenience of wholesale jewelry
Wholesale jewelry is one of the best products to buy and sell no matter how you want to sell it; to retailers, wholesalers or directly to consumers. The small size of jewelry makes it very easy to store without the need for a lot of warehouse space, making it unique from many other products. Other products such as inexpensive tools, novelties and other products can take up thousands of feet of space, something most people running a wholesale business out of their homes lack. In many cases you can have your entire jewelry inventory in a small corner of your house, garage, or other living space.
Since wholesale jewelry is small and takes up minimal space, it is also easy and inexpensive to ship. Even bulk amounts of custom jewelry are not very heavy, making them inexpensive and easy to ship. Jewelry products are very light; we’re not talking about selling gold or silver bars here!
The lightweight nature of these products not only allow for easy drop shipping, but also easy transportation. You don’t have to break your back carrying 40 lbs. cases. This makes selling wholesale jewelry an option for many people. If you don’t have the physical ability to transport and lift heavier wholesale products such as beverages, tools, or novelties, jewelry is a great alternative.
The best reason for wholesaling jewelry is price and profit!
Jewelry is perceived to be a high-value product. There is a lot of hype built around gemstones and precious metals. Jewelry is considered a luxury item and people are willing to pay large sums of money to have it. So even if a piece of jewelry is produced for a low cost in another country, it will be valued at a high price in the US. If you sell diamond rings or Rolex watches you have high-value items.
This perception of high value also applies to hand-made jewelry. If you make your own rings, earrings, pendants and bracelets they will have a high perceived value. The high-value perception of jewelry equals large profits!
How to sell wholesale jewelry
Wholesale jewelry is of the best items to sell. It is the perfect product for eBay, it has high profit, needs little storage space and it’s very inexpensive to ship. Jewelry can also be sold to retail stores; starting with small, independent boutiques and moving up to larger stores.
You can also sell rough stones, rings, earrings, diamonds, necklaces, beads, pearls, emeralds, gold, silver and all other products to friends and family with little work. Home jewelry parties can also be organized to sell to more people.
For creative individuals that are good with their hands it can be a money making hobby. You can make your own custom merchandise and sell it. Remember, local schools, especially colleges and universities often have classes on how to make rings, pendants and other products with different types of stones and metals.
The wholesale jewelry business is very easy to get into and can make anyone a lot of money. Since jewelry is lightweight and small, it is easy to store and ship. Jewelry is perceived as a luxury item, so you can reap large amounts of money from selling it. Wholesale jewelry is easy to find for low costs, as most of it is produced overseas, and can be easily turned around for large profits. Even handmade jewelry can be made for low cost and sold for large sums.
Wholesale jewelry can be sold to small boutique stores or larger chain stores. It can be sold at a variety of outdoor markets, at jewelry parties, or to friends and family. There are many sales possibilities for selling jewelry because it has a wide appeal.
Starting a wholesale jewelry business is something that many people can do. It requires a small investment and very little space. If you are interested in getting involved with the wholesale jewelry business, start looking online for jewelry suppliers. Set up eBay accounts to sell your jewelry and determine what other sales opportunities are available and appeal to you. Connect with stores in your area that might want to purchase jewelry. Reach out to friends and family and set up jewelry parties. Then, get selling and enjoy your profits!
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Written By Jorge Olsen. Edited by Sarah Mitroff