Jewelry buying tips to keep the sparkle

With Valentine’s Day upon us, love is in the air — and so is spending. According to the American Express Spending & Saving Tracker, Americans will fork over 8 percent more than last year to celebrate Feb. 14, with more than half (51 percent) of all consumers planning to purchase Valentine’s Day gifts. Although flowers reign supreme as the No. 1 token of affection — constituting 29 percent of all presents exchanged — jewelry is the top retail item that consumers gift to loved ones each year.

However, shopping for jewelry can be tricky and a little daunting. When faced with a case full of shiny baubles, it’s easy to purchase pieces that aren’t as high quality as they appear, or are grossly overpriced relative to their true value. Here are a few tips to help those of you planning to give your loved ones rings, necklaces and other items, to ensure that Valentine’s Day 2012 is a success.

Understand the terminology and important facts. Before you walk into a store, it’s a good idea to understand how to shop for jewelry so you don’t get confused and led astray by technical terminology that salespeople use. For example, when shopping for diamonds, a good rule of thumb is to follow all of the “4Cs” — carat, clarity, color and cut — to determine the true quality of the stone. Websites for organizations like the Gemological Institute of America and the Jewelry Information Center provide information and tutorials that will empower you to make sound purchasing decisions and ensure that you leave the store with a high-quality piece.

“New” doesn’t always mean “better.” People often hesitate at the notion of buying pre-owned jewelry. However, all jewelry can be refurbished and returned to new condition. Best of all, buying a pre-owned piece in a store can save a consumer between 50 and 100 percent off of the original or “new” price — without losing any of the value. For example, at La Familia Pawn & Jewelry stores, we carry several pre-owned rings, Rolexes and other high-end pieces in impeccable condition for a fraction of the prices that the same items cost brand new. And with precious metal prices skyrocketing, who couldn’t use a deal these days?

Get written appraisals on all big-ticket items. Just like you wouldn’t buy a new home without an inspection, you shouldn’t buy a piece of fine jewelry without getting it appraised. A good rule of thumb is to visit an independent appraiser for any item that costs $1000 or more — you can find a list of certified gemologists and appraisers through the American Association of Appraisers’ website. Also, ensure that you complete the process within the time your seller allots for returns, just in case the item is not up to snuff.

With just a little preparation and a few precautions, you can ensure that you walk out of a jewelry retailer with a great item that your significant other will love. And be sure to talk up the leg work involved — it just may earn you some bonus points this Valentine’s Day.

Lawrence Kahlden is the president and CEO of La Familia Pawn and Jewelry.