You can still afford a luxury Valentine’s Day gift – here’s how!
People have observed Valentine’s Day since before the 5th century. It has developed through the decades until reaching its current form as a global celebration of love on February 14. Gifting loved ones has long been a trait of the day, whether with a Valentine’s Day card, box of chocolates, dinner out, or the most coveted gifts – a unique jewelry piece. However, we all know that in these economically trying times, forking out on jewelry may seem an unlikely possibility. But don’t give up. You can sell old or unwanted jewelry faster than you think for cash and have enough to spoil your loved one with something splendid!
The economics of Valentine’s Day
While Valentine’s day is undoubtedly a celebration of love, it has admittedly become a significant economic opportunity for many jewelers and other businesses who depend on consumer purchases for their survival. Nobody can ignore the global economic impact of COVID-19 on all businesses.
Data published February 2, 2021, by Statista Research Department expects U.S. Valentine’s Day spending to reach around 22 billion dollars this year – a drop of about six billion since 2020 when expenditures were at an all-time high.
Since 2004, the National Retail Federation (NRF), the world’s largest retail trade association representing the largest private-sector industry in the U.S., has conducted an annual Valentine’s Day consumer spending survey measuring how Americans intend to celebrate.
In its latest poll, 52% of U.S. adults plan to celebrate this year, spending $21.8 billion. While the pandemic has disrupted many aspects of activities typically associated with Valentine’s Day – 74% of consumers say it will impact their plans, such as dinner out, but 73% feel it is still important to celebrate.
Given current enforcements of social distancing and lock-downs, online is the leading shopping destination (39%), followed by department stores (29%). The good news for small and local businesses is that for the first time, they are in the top five list of where shoppers intend to spend (17%). While the survey suggests 18% fewer consumers plan to spend on jewelry this year, small jewelry stores, especially those online, still have hope.
Raising the cash
What can you do if you are strapped for cash but still want to impress your beloved with an expensive gift – or even surprise them with an engagement ring? While there is a vast range of gifts and prices, you can set your standards high. How? Check if you have any unwanted jewelry lying around at home or even old-fashioned heirlooms. Perhaps you have some gold and even diamond jewelry that you no longer wear or that have lost their meaning for you (symbolize a break-up, divorce, etc.). Now is the perfect time to consider selling it for cash. With the money, you can buy any gift you want. This transaction is the fastest way to raise enough money to splash out – well, at least as much as your budget realistically allows.
Selling jewelry can be a tricky business if you aren’t careful, especially if you are in a rush. The bests option is to find a highly reputable jeweler who buys pre-used jewelry and gives the best market value. DNR Diamonds is located in the heart of New York and has an office in Chicago. The company’s reputation in the industry precedes it, and customers know, trust, and expect excellent personalized service from experienced jewelry experts. N.Y. Diamonds also offers a free appraisal of your jewelry before paying you the highest price in cash. If you’re hoping to afford a luxury gift for someone special, DNR has you covered!
Contact DNR for a free appraisal!