The new initiative will launch August 18 and trims off extraneous trade-in promotions in favor of a higher bottom line. The change comes on the heels of a study showing over half of GameStop customers are unaware they can trade their games in at the store.
This information, along with the price, helps the Insurance Company and Police Department identify your ring in case it were stolen, lost or damaged.
And if your Diamond needs a Certificate Replacement (customers always lose these), or if it needs to be recut or repolished (Diamonds often chip or break around the Girdle) then the Jeweler could actually lose money. Jewelry is a tough business and it takes a lot of money to operate, store and stock thousands of Diamonds and Rings and Gemstones.
If your Diamond is GIA Certified then it puts you in a much better standing to get more money for your Diamond.
If your Diamond is GIA Certified (make sure you bring the actual Certificate with you), the Jeweler will probably give you more money than if it were a non-certified stone, or if it was certified by any other company (EGL, IGI…).
You can get more for your Diamond if you trade your Diamond in versus just selling it outright. Jewelers will be willing to work with you more if you’re spending more money in their store.
There’s some exciting news coming out of Lansing, Michigan that is sure to bring a smile to your face and put more money in your pocket. However, please note that because the State of Michigan will be losing tax revenue by passing this bill, there is a provision in the legislation to ramp up the amount of your trade-in value that can be deducted from the new vehicle selling price. In the first year, you will no longer pay Michigan’s 6% sales tax on up to $2,000 of the value of your trade-in, for a tax savings of up to $120. The trade-in value you can subtract from the vehicle selling price will then rise $500 per year for the next 25 years (for an additional $30 tax savings each year) .
If you have any questions about the new Trade-In Tax Break, please post them in the comments section below. Now that Apple has made the rumored October 22nd date for its iPad event official, it’s now time to seriously start thinking about trading in your old iPad in order to get the most for your money. If you find trade-in programs offering more than the services above, let us know in the comments and we’ll add them to the roundup. Looking at trading in my iPad Mini and upgrading this time around, but most of these seem to be US only. Customers who are members of the loyalty program and who trade in their games for store credit get the most; customers who trade in their games for cash and are not members of the loyalty program get the least. According to Kotaku, the system is designed to simplify GameStop's trade-in structure, with any games that you sell earning a flat rate that will only vary depending on whether you opt for cash or store credit, or if you are a member of GameStop's subscription program.
Putting trade-in credit toward pre-ordered games or trading during a monthly promotion, for example, will no longer affect the value awarded. For instance, if the Diamond retails for $6,000 and the ring retailed for $2,000, the Appraisal Replacement Value will be $8,000.
They make a little bit on the deal minus taxes, overhead, labor, insurances and commissions.
But if the chip is large enough and significant Carat Weight will be lost, it could cut your money in half. Simply put, the value of your trade-in is subtracted from the selling price of the vehicle you are buying or leasing before Michigan’s 6% sales tax is added in.
The best part (besides the extra cash) is, that as a consumer there’s no paperwork required or confusing tax documents to keep track of. When fully implemented, this change will allow trade-in values as high as $14,000 to be exempted from sales tax. The chart above from NextWorth is a little taste of what you can expect from trade-in values for iPads in the coming weeks, so if you’re planning on pulling the trigger, now is definitely the time. You’ll also get the option to be paid by PayPal or check instead of a gift card like many competing services. The old way required a consumer to pay sales tax on the full selling price of the vehicle before subtracting the amount of the trade-in.
You can typically get an extra 15-30% for your old iPad by selling directly to a buyer on sites like eBay and Craigslist, but you miss out on a few of the benefits provided by the trade-in programs. You’ll get an extra 10% on your trade-in if you use the NextWorth link at the top of this paragraph.
On top of the overall convenience of not having to find and deal with a buyer directly, the trade-in programs typically offer a price lock window allowing you to lock in a price now and wait until after Apple’s announcement to make a final decision and send in your iPad.
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