Wholesale Jewelry Exports and Tariffs
Wholesale Jewelry Tariff
One thing that many Chinese exporters overlook are their export costs. Inexperienced individuals will find a trading company at too high of cost. Sometimes trading companies want upward of 12% of the COG (total cost of goods.) However, its possible to get the trading company down to a much lower cost around 1%.
A trading company will help you with numerous shipping needs. They will identify if your item has an HS Code (tariff code which btw, can be a huge hassle if not identified correctly. Goods can be sent back or you may be levied a fine. I can go into the intimate details ;).) provide material and moral support through customs, get the goods shipped to the target country, and even have some sort of guarantee through the target countries customs.
The tariff policy is complicated especially when it pertains to jewelry. Wholesale jewelry is manufactured out of multiple materials all having different classifications. It it’s crucial that you pair with a good trading company who will analyze the jewelry to determine the proper tariff code. See the next part in a few days.
Chinese Wholesale Jewelry Tips
Wholesale Jewelry Verification Example
One of the main things that you need to be concerned about when dealing with wholesale jewelry are fake stones. For someone whose starting out, it can be very difficult to tell real stones from fake stones. Often stones are dyed or are made of glass. They may look natural but in fact are not. In order to avoid being duped, I offer you a few tips.
Coloration:
Coloration of the wholesale jewelry is very important. Keep in mind that natural jewelry stones, especially cheaper ones, are not going to be that vibrant. Be careful of jade because only expensive jade is going to be really green.
Cut into a suspect stone:
This may require damaging a small portion of the jewelry. But, you probably want to take an Exacto knife and cut the stone to see if the color inside is similar to what you are seeing on the outside.
Only deal with trusted suppliers:
Like many would be buyers I have also been duped by chinese wholesalers and factories. Make sure you deal with only reputable organizations. Even if the price is more expensive, its worth the difference especially on the first jewelry deal. You don’t want to fail your first time so pay attention to every detail.
Get the jewelry verified by an independent jewelry verification house:
Surprisingly, there are lot of jewelry verification services in Mainland China. They can provide a “zhengshu” or verification document for every stone. The document certifies on behalf of their company that the stone is genuine. If you need help finding a reputable Chinese jewelry verification service please contact us.
I’m in Beijing!
Beijing Hong Qiao Pearl Market
I am writing from Beijing. If your looking for wholesale jewelry, head over to the Hongqiao Pearl Market. There is also another wholesale market across from the olympic stadium. However, Beijing isn’t really the best place to get wholesale jewelry. I will divulge some of the best wholesale spots over the next few weeks.
The difference between Bali Silver and 925 Sterling
Bali Silver Example
Bali Silver is frequently found in over seas wholesale and factories. Bali Silver does in fact have silver material in it; it’s just a lower percentage composition. The silver percentage is about 50% to 60%. The lower silver percentage means that it’s cheaper than 925 sterling which must contain 92.5% silver or above. 92.5% or above silver composition makes the jewelry officially “sterling silver.” Make sure that you watch out for bali silver. One way to spot it, is the darker tarnish and the its general lower quality appearance of the jewelry.
The other thing to know about 925 silver jewelry is it often comes with an electronic coating over the silver. Often this coating is comprised of nickle and it gives the jewelry a shiny appearance. Make sure to ask wholesaler or factory if the jewelry includes the electronic coating. In our experience, some clients are comfortable with the coating while others are not. The coating prevents the silver from tarnishing overtime and reduces the need for regular cleanings. Interestingly, pure 925 silver can usually be polished to appear as if it has the coating also.