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Sudden Windfall? Jewelers Would Put It in the Bank!

What if you suddenly had $250,000?

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What if you suddenly had $250,000?

If a favorite aunt left you $250,000, 29 percent of you would bank it or invest it for later use, according to the 2017 Big Survey.

The results display a bit more of a conservative bent than in 2008, when just 20 percent of respondents chose that answer.

Sudden Windfall? Jewelers Would Put It in the Bank!

Twenty-three percent would use the money for paying down debt, down from 32 percent in 2008. Likely because jewelers are carrying less debt now than they did then. In 2017, fully a third of jewelers report they carry no debt at all, which marks a significant change from pre-recession 2007, when only 24 percent were debt free.

In 2007, 30 percent of jewelers carried more than $100,000 in debt. Ten years later, that percentage had dropped to 22 percent.

Below are the full results. And you can see all the results of the 2017 Big Survey in the October edition of INSTORE.

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Sudden Windfall? Jewelers Would Put It in the Bank!

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at [email protected].

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Thinking of Liquidating? Think: Wilkerson

When Peter Reines, owner of Reines Jewelers in Charlottesville, VA, decided it was time to turn over the “reins” of his 45-year-old business to Jessica and Kevin Rogers, he chose Wilkerson to run his liquidation sale. It was, he says, the best way to maximize the return on his decades-long investment in fine jewelry. Now, with new owners at the helm, Reines can relax knowing that the sale was a success, and his new life is financially secure. And he’s glad he partnered with Wilkerson for this once-in-a-lifetime opportunity. “There’s just no way one person or company could run a sale the way we did,” he says.

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