Secret #4 - The Biggest Lie Jeweler's Tell You To Get You To Buy A Gold Chain
If you're on instagram... You've heard this lie before... You might've even fell for it... I know I fell for it (before I was a jeweler)...
From: Jollay The Jeweler
Leave it up to jewelers to tell you anything to make the sale…
I know you’ve heard from jewelers on the gram… Saying “You’re not really buying this, you are investing”...
That’s actually bullshit.
Let me tell you:
The Tale Of Two Hustlers
Ten years ago... Right at the peak of recession, two 18 year old hustlers had 10k saved up...
Both were ambitious... They both grind hard, and saved money. And they were both friends...
Recently though... They were at their high school reunion...
One of them was dead broke... And the other? The other was self made millionaire.
What Made The Difference?
Want to know how one of them got rich... And the other went broke?...
Well it had NOTHING to do with education, or even their job... Neither of them grew up rich...
They both were almost the same person, from the same background, with 10k saved up.
The only difference was...
WHAT They Spent Their Money On...
The one that went dead broke... He spent 10k on some fire jewelry...
The one that's now a millionaire... He invested his money in the stock market...
He got 2500 shares of tesla at $4 each. Today as I'm writing all this, those 2500 shares, are worth 1.46 MILLION dollars.
Isn't that wild? Would you rather have a million bucks... Or 10k worth of jewelry? A million bucks, right?
You see, thats what a real investment is... Gold jewelry is NOT an investment...
Don't let these jewelers fool you like that...
You can buy a solid gold chain, but don't buy it cause a jeweler told you it's an investment. Because it's not.
First off… These jewelers aint even selling 24k gold… they’re flipping 10k and 14k… Which is just like "rerock". It’s been cut to make more profit.
Second off… They’re markups are crazy! As I’m writing this 14k gold is worth only $34.97…
Yet this one jeweler in nyc that’s always yelling at the camera “this is an investment”...
Is selling a 27 gram 14k gold chain for $2490 “on sale”... That is $92 dollar per gram. Almost 3x what it’s worth…
You don’t buy investments at 3x what it's worth.
Now let's break this down a little more…
That would mean, if you bought that chain as an investment… The gold price would need a 300% increase for you to break even. Meaning it could take decades for you to even break even.
BUT, if you made a real investment, and the price had a 300% increase… You’d 3x your money in your sleep.
You know I actually used to believe that. I copped a 14k gold cuban chain 5 years ago for $400… But if I go to a pawn shop… They’ll give me $250 if I’m lucky.
So yeah gold chains are NOT an investment. Not even close.
Jollay The Jeweler
P.S. Tmr I'm going to tell you secret #5...