Originally Posted by Ron
You always hear about someone buying a piece of jewelery on some island, getting back home and taking it right away to Fred the friendly neighborhood jeweler and HE said --it's was worth much more than they paid, etc. etc.
First of all, you usually do not get something that's actually worth $ 4000.
for $ 1500.
If they trust Fred the friendly neighborhood jeweler to tell them what it's worth, why not trust him enough to buy from him in the first place ?
I would wager that most of these jewelers back home won't put in writing what they tell you re/ your purchase.
My wife has been in the jewelry business, managing a store for one of the largest jewelers in the country ( approx. 1200 stores nationwide ) for well over 30 years.
They don't do appraisals as it was beginning to be a problem when they told people what the item was worth, instead of telling them what a great deal they got.
I'm not at all saying you can't get a good deal on some of the islands--I'm repeating what has already been said--be very careful and know your stuff and your prices at home prior to plopping down a bunch of money. The person you are buying from isn't giving you a great deal because they like you--they may come down in price but they have to make a profit or go out of business.
The only people my wife ever tells she's in the jewelry business when we cruise are the people who try to entice you into their stores--when they find out she's in the business, they will immediately back off and wait for the next " customer " to come by.
Remember-- tourists and their money, in a lot of cases, can easily be separated.
So what you're saying is the friendly neighborhood jeweler is a liar when he appraises jewelry purchased in the Caribbean? What possible motive would he have to lie?
As to why someone would buy jewelry in the Caribbean and not from the friendly neighborhood jeweler, how about the price? How about the fact you pay no duty or taxes on the purchase, unless it is over the duty free allowance for bringing it back into the US (I firmly advocate everyone follow the rules and regulations for customs declarations when returning to the US from a cruise)? That is why we purchased in the Caribbean. Here in the Chicago area, we have the HIGHEST sales tax in the entire US, over 12%! Why would I pay that here and send my money to the corrupt Cook County government and City of Chicago when I can purchase it in the Caribbean and not have to pay that money in addition to the price? Both the major jewelry pieces we purchased in the Caribbean cost us much less than when we went looking for similar pieces here in the Chicago area with the outrageous taxes we pay here. I contacted our insurance to cover our jewelry purchases, and we went to the appraisers they sent us to. As I said, they both appraised for at least double, if not more than double, than we paid for them. Since that is what the insurance would pay (minus the deductable of course) if we filed a claim, why would they lie and appraise it higher then it was really worth?