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TING's PICKS : hand-picked gold jewelry

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Mde. TING's PICKS : aesthetic hand-picked gold jewelry

Madame Ting appraises jewelry every day.

She knows its value, and chooses well.

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She buys gold jewelry based on its gold value, but sometimes she acquires beautiful unclaimed jewelry for her own account.

She does this when she thinks the jewelry has aesthetic value beyond the Gold value.  So she is getting that "extra" artistic or artisan's value for free.  She marks her acquisitions at her cost, and then indexes that value to gold price.

She is willing to resell the jewelry that she buys at a small premium to what she paid. That premium starts at about X%, and then rises at approx. 0.5-1.0% per month for three months, while she seeks a buyer.  After that, it is negotiable.

Here are the items presently available from her...

(coming)

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Sample of Jewelry that might be sold, Costing over P 5,000 (ie US $100)

Paraphrasing from below: "That necklace could be a nice gift idea, but it is EXPENSIVE as an impulse buy"

PT.1 / COMMENTS

M :  You guys might have an opinion one whether this might may a viable online business for Ms. Ting?
D :  Anything can be a viable online business opportunity however if you are selling a product that is a want rather than a need it is easier to sell something that is an impulse purchase… Sell to a passionate niche
M :  Also, costs of this Jewelry would be higher, like 5,000 - 6,000.  And then the margins are small compared with cheap stuff
D :  The higher the cost of goods are the more the customer is likely to want to touch it and see it making online purchase challenging.  that is unless you are selling a well known brand.  for example you can only buy a tesla online. but they have the most recognisable brand
M :  I asked her: "what does that necklace cost you?" (P5100) "what can you pawn it for (P4200- about 80%)"  so at least people who but from her would know they are not paying double.  If needed, they can get back most of their money
D :  ok i think at that price point it will be hard to sell online.  my suggestion is to create a facebook business page.
add her friends and post her jewellery there
M : Good idea.  Thanks
D : if she can sell it first before having to buy it. that would be better.  otherwise its too capital intensive

PT.2 / COMMENTS
“this serves a good purpose, in getting us to think thru some of the key issues”

M  : The cheap high margin stuff, maybe she could sell -- after establishing her brand
D  :  i recommend that is where she should start first: find stuff that looks expensive but is actually cheap
its harder for people to put a value on jewellery.  especially if its unique.
M  :  Start: Higher end thru a FB for friends?  Or higher margin, cheap stuff?
D. :  start cheap. its much easier to sell cheap than expensive
M  :  I know people find it hard to value jewellery.  that is why I would think people might want to know what an expert thought, when they spend that kind of money
D  :  find a targeted niche… like for example a silver bracelet is generic
M  :  In fact, this might starts with buying her a single necklace. that was the initial idea. We wanted to know the real value, and what not could be pawned for
D  :   a silver bracelet with dog charms is more targeted… to dog lovers
M  :  hmm. yeah
D. :  That necklace could be a nice gift idea, but EXPENSIVE
M. :  My idea was to Buy a gift WITH UNDERLYING VALUE.  Like a known PAWN value capitalizing on her specific expertise in appraising and valuing gold jewellery
D. :  but will end customer (who buys when it is resold) know the real value of those pieces?
M. :  They would have to trust her.  Maybe they could take it into another shop to confirm (if they lack confidence in the stated valuation).

PT.3 / COMMENTS
M. :  Friends suggested… You should help her start a jewellery business, so I came up with this as a way to start
D.  :  that would not be my advice
M. :  okay. Why not?
D. :  I think starting a jewellery business is tough. highly competitive, capital intensive
M. :  yes. sure. Tough business.  But how many people do you know with her specific expertise?
D  :  And a start-up also needs… experience owning and running a successful business
M : I see her as… She is more of an Expert Buyer / Appraiser... helping people who might want to buy smartly
D  :  yes build a business that takes advantage of her skills
M  :  Most of the time, Jewelry is worth 30-50% less as soon as you buy and take it out of the shop
D  :  just selling jewellery? i think will be a tough slog… just like cars
M  :  But in her case, the immediate loss might be very small if she helps (using her appraisal expertise)

PT.4 / COMMENTS
M :  I don't see it as her main business, just something to do "on the side" while she is still at her current employer
D  :  I think a better idea for her is to encourage her to start a youtube channel, teaching people about jewelry and how to appraise jewelry. Once she has followers, she can monetize her channel and offer online jewelry appraisal courses.
D. :  Or make a sponsored Facebook ad for people to give her their email address in exchange for some free content. Then use the emails to create a marketing campaign to sell her courses.
Don't know if that's possible, but you can do this with little investment and can potentially make a tonne of money selling courses.  ( don't know if there is a demand for this knowledge but Ms.T will know more than me.)
M  :  Might be a possible conflict, so long as she is at her current place of employment
D  :  conflict? how? she is just offering her knowledge
M :  If she makes teaching videos, it could potentially be construed as giving away proprietary knowledge about how her company values jewelry.  And. Maybe she does not yet have the confidence to put herself forward in such public way

PT.5 / ADVICE

D :  Start cheap, the biggest mistakes startups make is they spend too much money at the start. Start small and when your business starts to get momentum, then invest more capital.
When we started our business we started with (items) Costing just around $60 only.

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Gold price: $ 1,441/ Troy Oz.
/ 31.103 gr = $46.33 per Gram : x PH peso :  P51.51 : Gram Gold:  P2,386.5:

Compare...
Gold Price in Philippines > source
Gold Unit    Gold Price in Philippine Peso (PHP)    Gold Price in U.S. Dollar (USD)
Gold Ounce    74,220.25     1,440.65
Gold Gram Carat 24    2,386.50   46.32
Gold Gram Carat 22    2,187.45    42.46
Gold Gram Carat 21    2,087.77    40.52

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WHAT "BARGAINS" are out there - Are they genuine bargains??

THIS was advertised.... as being "Affordable Gold Jewelry" - at an 18% Discount

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P11,000, reduced to P9,000 - an 18% Discount

But let's look closer...

21K Gold Chain Necklace
Guaranteed real gold or refund
Classic and Timeless Design
Comes with Free Jewelry Box
Wear everyday and for all occasions
Best investment, value goes up in time
*** This listing is for 1 pc of 21K Gold Necklace only
Fast Shipping via LBC. We also ship international via DHL, Fedex.
Features
• Machine Made
• Gold Kt: 21K
• Gold Color: Yellow Gold
• Weight: Approximately 2 grams (may vary in actual)
• Length: 18 inches

Two grams: 2gm = 2088 x 2 = P 4176

They want to SELL this necklace at P9000 AFTER an 18% discount

9000/4176= 215.5% / and 11000/4176=  263% BEFORE the discount

This is NO BARGAIN, before or AFTER the discount !

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Available now at a small XX% premium to its Gold value

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CHANEL Earrings

 

LINKS : Buy Cheap Jewelry (Pinoy Exch.) :

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Helen Jewelry / ONGPIN ST

13532789_2052309388327662_66636301042676

Helen Jewelry Shop, wedding rings and engagement rings are very close to our hearts and we make sure that you get the best of what you’d pay for, as we do our best to give you the best wedding rings or engagement rings you’ll need for your wedding day. Despite having a wide collection of designs of wedding rings and engagement rings, we also offer customized wedding rings or engagement rings based on your design or needs to make your wedding rings special.

There are a lot of Jewelry Stores or Jewelry Shops in Ongpin Chinatown (Especially in the Binondo/Ongpin area) it is known that here in Ongpin, trade and business are very alive. So if ever you'd find yourself exploring this part of Manila, don’t forget to look out for that shop which is at the hearth of Ongpin Street itself (as we try our best to accommodate you with the best service we can offer). So be sure to check out Helen Jewelry Shop, and check out our unique designs and services that will truly make your special occasion/purchase memorable.

We are located at 927 Ongpin Street, Sta. Cruz Manila.

> http://helenjewelryshop.com/?fbclid=IwAR3i3gMsfdNpuz-CvoVt4dDOwowlTnlYLI2e-A77C7EYYOA3aChNdZbWpHY

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