Monday, September 21, 2015

Consigning Jewelry: Cash in on the Growing Trend

Sure, all of you have a few trinkets tucked away in your drawers that you rarely (or should I say never,) wear. If you're like many other people, you probably have more than a few pieces of jewelry that have not seen the light of day in at least a few years. Some looked at these objects as a nuisance for a long time, but we’ve learned that what was once clutter can turn into cash.

 The New York Times cites a report by McKinsey & Company, a global management consulting firm, which says that the jewelry industry will grow explosively in the next five years. According to the article, jewelry sales amounted to $162 billion in 2013. But get this -- in 2020, worldwide jewelry sales are expected to top $230 billion! Now that is a lot of money!

Of course, the money some people made from consigning trinkets seemed just a drop in that ocean of money. When they were able to cash in on those unused items, however, for $20 here, $100 there, they were able to allow themselves to splurge on a few things that ordinarily they would feel guilty about buying. Best of all, they felt better about being more organized, while making some money!

Some people have actually made quite a lot of money consigning their jewelry. The Wall Street Journal has a fabulous article about a few women who consigned their jewelry to pay their children's school tuition, to go on that dream vacation, or even to buy other jewelry that they would actually wear.

So, give consignment a shot; there is nothing to lose and money to gain!

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