Local businesses that purchase previously owned precious metals and gemstones offer a convenient avenue for individuals seeking to sell their jewelry. This service provides a way to liquidate unwanted or inherited pieces for immediate monetary return. For example, someone might sell a gold necklace, a diamond ring, or a collection of vintage brooches to such an establishment.
Utilizing these services offers several advantages. Sellers can obtain a fair market value assessment for their items and receive prompt payment. This approach often bypasses the complexities and uncertainties of online marketplaces or auction houses. Historically, local goldsmiths and jewelers have played a role in buying and reselling jewelry, providing a trusted community resource for generations. This tradition continues to offer a discreet and reliable option for those wishing to sell their valuables.
The process of selling jewelry locally involves factors such as appraisal methods, market fluctuations, and legal regulations. Understanding these aspects is crucial for a successful and satisfactory transaction. The following sections will explore these considerations in detail, providing valuable insights for anyone considering selling their jewelry.
1. Reputation
Reputation forms a cornerstone when selecting a local establishment for selling pre-owned jewelry. A strong, positive reputation often indicates fair pricing practices, transparent transactions, and reliable service. Established businesses with long histories in a community tend to cultivate stronger reputations based on consistent performance. Conversely, businesses with poor reputations, perhaps due to inconsistent valuations or questionable practices, may offer lower prices or create unpleasant selling experiences. For example, a jeweler known for specializing in antique jewelry might have a distinct reputation within that niche, attracting sellers with relevant items. This specialized reputation can translate to higher valuations for specific pieces compared to a generalist jeweler.
Due diligence regarding reputation can significantly influence the overall selling experience. Online reviews, local business directories, and testimonials from previous clients provide valuable insights into a jeweler’s standing within the community. Industry affiliations and certifications also contribute to a business’s credibility and trustworthiness. A jeweler affiliated with recognized appraisal organizations, for instance, signals a commitment to professional standards. This information empowers sellers to make informed decisions and choose establishments that align with their expectations of fairness and reliability.
In summary, prioritizing reputation mitigates potential risks and ensures a positive selling experience. While factors like location and specialization are important, a solid reputation ultimately underpins trust and contributes significantly to obtaining fair value for pre-owned jewelry. Thorough research into a jewelers reputation provides sellers with the necessary information to navigate the selling process confidently and secure a satisfactory outcome. This careful approach ultimately benefits both the seller and the broader market by promoting ethical and transparent practices.
2. Location
Proximity plays a crucial role when selecting a business to sell pre-owned jewelry. “Near me” implies convenience and accessibility, allowing sellers to easily visit potential buyers, obtain appraisals, and complete transactions. Evaluating location involves considering travel time, transportation options, and neighborhood safety. Analyzing these factors streamlines the selling process and ensures a smooth experience.
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Travel Time and Convenience
Minimizing travel time is a practical consideration. A nearby establishment reduces the logistical burden of transporting valuable items, especially if public transport is involved. Convenience contributes to a more efficient and less stressful selling experience. For instance, a conveniently located buyer allows for multiple visits if needed, facilitating negotiation or further appraisal without significant disruption.
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Transportation Options and Safety
Available transportation options and neighborhood safety influence the choice of location. Secure transportation of valuable jewelry is paramount. A location easily accessible by car with secure parking, or near reliable public transportation, is preferable. Additionally, a reputable business in a safe neighborhood minimizes risks associated with carrying valuable items. For example, sellers might prefer locations with readily available taxis or ride-sharing services over areas requiring long walks with valuable jewelry.
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Local Market Dynamics
Local market conditions can influence pricing and demand. Urban areas with higher concentrations of jewelry businesses may offer greater competition and potentially higher valuations. Conversely, rural areas with fewer options might have different pricing structures. Understanding regional variations ensures sellers make informed decisions based on prevailing market dynamics. This awareness allows sellers to leverage local market trends for the best possible outcome.
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Accessibility and Business Hours
Accessibility factors, such as parking availability, wheelchair access, and business hours, contribute to a positive experience. Convenient operating hours accommodate varying schedules, making it easier for sellers to coordinate appointments and complete transactions efficiently. For example, a jeweler with evening or weekend hours caters to individuals with daytime work commitments.
Considering these location-based elements contributes significantly to a smooth and successful selling experience. Prioritizing proximity and accessibility ultimately allows for a more convenient, secure, and potentially more profitable transaction when selling pre-owned jewelry. By evaluating location strategically, sellers can maximize convenience while optimizing the potential return on their valuable items.
3. Specialization
Specialization within the pre-owned jewelry market significantly impacts valuations and transaction experiences. Businesses focusing on specific types of jewelry, such as antique pieces, specific gemstones (e.g., diamonds, emeralds), or particular metals (e.g., platinum, gold), often possess specialized knowledge. This expertise translates to more accurate appraisals and potentially higher offers compared to generalist jewelers. For instance, a business specializing in vintage jewelry might recognize the unique value of a Victorian-era brooch, offering a higher price than a generalist who may only assess its metal content. Similarly, a specialist in diamonds can accurately grade and evaluate a diamond’s characteristics, leading to a more precise and potentially more favorable offer. This specialized knowledge benefits sellers by ensuring their items are assessed based on their unique qualities and historical or artistic significance.
The connection between specialization and locality creates a niche market. Sellers seeking specific expertise can locate businesses within their vicinity catering to their needs. This targeted approach increases the likelihood of finding a buyer who understands the true value of specialized items. For example, someone with a collection of antique pocket watches would benefit from seeking a local jeweler specializing in antique timepieces. This focused approach maximizes the potential return and ensures the items are handled by knowledgeable professionals. Conversely, selling a specialized item to a generalist jeweler might result in undervaluation or a missed opportunity to connect with a collector or enthusiast. Therefore, considering specialization when choosing a local buyer is crucial for maximizing value and ensuring a satisfactory transaction.
Understanding the role of specialization empowers sellers to make informed decisions. Identifying local jewelers with relevant expertise allows for more accurate valuations, potentially higher offers, and a smoother transaction process. This targeted approach benefits sellers by connecting them with buyers who recognize and appreciate the unique value of their items, ultimately contributing to a more efficient and rewarding selling experience. By considering specialization, sellers can navigate the pre-owned jewelry market strategically and achieve optimal results.
4. Pricing Transparency
Transparency in pricing structures is a critical factor when considering local businesses for the sale of pre-owned jewelry. Openness about valuation methods, market influences, and profit margins builds trust and facilitates informed decision-making for sellers. A clear understanding of how a business determines offered prices empowers sellers to negotiate effectively and ensure a fair transaction. This transparency distinguishes reputable buyers committed to ethical practices and fosters positive seller-buyer relationships.
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Valuation Methods
Clarity regarding valuation methods, such as using established pricing guides (e.g., Rapaport Diamond Report) or relying on in-house expertise, allows sellers to understand the rationale behind offered prices. For example, a transparent business might explain how metal purity and gemstone quality influence their valuations, providing sellers with concrete data points. This openness empowers sellers to compare offers from different buyers and make informed decisions based on transparent valuation methodologies.
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Market Fluctuations
Acknowledging the impact of market fluctuations on precious metal prices and gemstone values demonstrates a commitment to fair pricing. Transparent businesses explain how current market conditions influence their offers, ensuring sellers understand that valuations reflect real-time market dynamics. This transparency builds trust and avoids misunderstandings arising from perceived discrepancies between offers and perceived market values. For example, explaining how gold prices affect the offer for a gold necklace contributes to a more transparent and trustworthy interaction.
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Profit Margins
Openness about profit margins, while not always expected, further enhances transparency. Explaining the business’s need to make a profit while offering a fair price to the seller fosters a more balanced and understanding relationship. This approach can differentiate a business from competitors who are less forthcoming about their pricing structure. For example, explaining the markup percentage applied to cover operational costs and profit fosters a more transparent and understandable transaction.
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Written Offers and Documentation
Providing written offers and detailed documentation of the appraisal process reinforces transparency and provides sellers with tangible records. This documentation protects both the buyer and seller and creates a clear audit trail of the transaction. For instance, a written offer outlining the breakdown of the valuation, including metal weight, gemstone quality, and any applicable deductions or fees, creates a clear and unambiguous record of the transaction. This documentation minimizes the potential for disputes and facilitates a smoother, more transparent selling process.
By prioritizing pricing transparency, local jewelry buyers cultivate trust, facilitate informed decision-making, and differentiate themselves within the competitive market. This emphasis on open communication ultimately benefits both buyers and sellers, contributing to a more ethical and sustainable pre-owned jewelry trade. Transparent pricing practices build stronger relationships and enhance the overall reputation of the business within the community.
5. Payment Methods
Payment methods offered by local jewelry buyers represent a crucial aspect of the transaction process. The variety of payment options, ranging from immediate cash to checks or bank transfers, directly influences the seller’s experience. Understanding the implications of each method allows sellers to make informed decisions aligned with their financial preferences and security considerations. For instance, a seller requiring immediate funds might prioritize a buyer offering cash payment, while another might prefer the security and traceability of a bank transfer. Different payment methods also carry varying levels of risk. Cash transactions, while immediate, offer less recourse in case of disputes, whereas electronic transfers provide documented proof of payment. Reputable businesses typically offer a range of secure and convenient payment options, catering to diverse seller needs.
Several factors influence the choice of payment method. The transaction amount often dictates the practicality of certain methods. Large sums might necessitate bank transfers for security and practicality, while smaller transactions could be handled with cash or checks. Local regulations and legal requirements also play a role; some jurisdictions might impose limits on cash transactions for precious metals, promoting the use of traceable payment methods. Furthermore, the seller’s individual circumstances, such as access to banking services or preference for anonymity, can influence their preferred payment method. A seller without a bank account might opt for cash, while another might prefer the discretion of a check. Therefore, a buyer offering a range of payment methods demonstrates flexibility and accommodates diverse seller needs.
Careful consideration of payment methods is essential for a smooth and secure transaction. Evaluating the advantages and disadvantages of each option, alongside individual circumstances and local regulations, empowers sellers to make informed choices. This proactive approach minimizes potential risks and ensures a satisfactory conclusion to the selling process. Furthermore, transparent communication with the buyer regarding preferred payment methods facilitates a more efficient and trustworthy transaction experience. This clarity benefits both parties and contributes to a more professional and secure environment for the exchange of pre-owned jewelry.
6. Appraisal Process
The appraisal process forms the cornerstone of transactions between sellers and local jewelry buyers. A thorough and transparent appraisal establishes the fair market value of pre-owned jewelry, ensuring equitable offers and informed decision-making. Understanding the components of a comprehensive appraisal empowers sellers to navigate the selling process confidently and secure optimal value for their items. This process bridges the gap between a seller’s desire to liquidate assets and a buyer’s need to acquire inventory at a reasonable price.
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Initial Evaluation
The initial evaluation involves a visual inspection of the jewelry, noting factors like metal type, gemstone presence, and overall condition. A preliminary assessment of potential value occurs at this stage, often using industry-standard pricing guides and current market data. For example, a jeweler might examine a diamond ring, noting the diamond’s clarity and carat weight, and the ring’s metal composition, to form an initial estimate. This preliminary evaluation sets the stage for more in-depth analysis.
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Detailed Examination
Detailed examination involves specialized tools and techniques to assess the jewelry’s characteristics. Gemstones undergo scrutiny for cut, clarity, color, and carat weight (the “four Cs”). Precious metals are tested for purity and weighed to determine their intrinsic value. Hallmarks and maker’s marks are identified to assess provenance and potential historical significance. For example, a gemologist might use a loupe or microscope to evaluate a diamond’s inclusions and grade its clarity. This detailed examination provides a more precise assessment of value.
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Market Analysis
Market analysis considers current market trends, demand for specific gemstones or metals, and auction data to contextualize the jewelry’s value. This research ensures the appraisal reflects real-time market conditions, leading to accurate and competitive offers. For instance, a surge in demand for colored gemstones might influence the valuation of a ruby ring. This consideration of market dynamics ensures fair pricing based on current trends.
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Documentation and Reporting
A formal appraisal report documents the entire process, including detailed descriptions of the jewelry, methodologies employed, and the final valuation. This report provides transparency and serves as a valuable record for both the buyer and seller. For example, a report might include photographs of the jewelry, details of gemstone grading, and a breakdown of the valuation based on metal content, gemstone value, and any applicable premiums for historical significance or craftsmanship. This documentation strengthens transparency and facilitates informed decision-making.
A robust appraisal process, conducted by qualified professionals, ensures fair valuations and builds trust between sellers and local jewelry buyers. This meticulous approach benefits both parties, facilitating transparent transactions and contributing to a more ethical and sustainable pre-owned jewelry market. Understanding the intricacies of this process empowers sellers to make informed decisions, negotiate effectively, and achieve the best possible outcome when selling their valuable items. This structured approach not only establishes fair market value but also educates the seller about the nuances of their jewelry, fostering a more informed and confident selling experience.
7. Customer Reviews
Customer reviews provide crucial insights into the experiences of individuals who have previously sold jewelry to local businesses. These reviews offer valuable perspectives on various aspects of the transaction process, including pricing fairness, professionalism, and overall customer service. Potential sellers can leverage this information to make informed decisions and select reputable establishments that align with their expectations. This feedback mechanism contributes to transparency and accountability within the pre-owned jewelry market.
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Reputation and Trust
Positive customer reviews contribute significantly to a business’s reputation and build trust among prospective sellers. Consistent positive feedback regarding fair pricing, honest appraisals, and respectful treatment establishes credibility and reinforces a business’s commitment to ethical practices. Conversely, negative reviews highlighting issues like undervaluation, misleading information, or poor customer service can serve as warning signs, prompting potential sellers to consider alternative options. For instance, multiple reviews praising a jeweler’s expertise in antique jewelry and their willingness to offer fair prices build confidence among individuals looking to sell similar items. This trust factor, cultivated through positive customer feedback, plays a vital role in attracting and retaining clients.
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Transparency and Reliability
Customer reviews often shed light on the transparency and reliability of a business’s practices. Reviews detailing clear communication regarding valuation methods, prompt payment, and adherence to agreed-upon terms reinforce a sense of transparency and professionalism. This openness reassures potential sellers that the transaction process will be conducted ethically and efficiently. For example, reviews mentioning a jeweler’s willingness to explain their appraisal process in detail and provide written offers build confidence in their transparency. This clarity fosters trust and encourages potential sellers to engage with the business. Conversely, reviews mentioning hidden fees or inconsistent valuations raise concerns about transparency and reliability.
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Customer Service and Professionalism
Customer service plays a crucial role in shaping the overall selling experience. Reviews highlighting courteous interactions, respectful communication, and a willingness to address customer concerns reflect positively on a business’s professionalism. This emphasis on customer satisfaction creates a more positive and comfortable environment for sellers, especially during potentially stressful transactions involving valuable personal items. For instance, reviews mentioning a jeweler’s empathetic approach and their ability to explain complex appraisal details in a clear and understandable manner contribute to a positive perception of their customer service. This positive feedback reinforces the business’s commitment to client satisfaction.
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Pricing Accuracy and Fairness
Customer reviews offer valuable insights into the accuracy and fairness of a business’s pricing practices. Reviews consistently mentioning fair offers, accurate appraisals, and reasonable profit margins build confidence among potential sellers. This positive feedback reinforces the perception that a business values its customers and strives to offer competitive prices based on market conditions and the intrinsic value of the jewelry. Conversely, reviews citing consistently low offers or discrepancies between appraisals and final offers raise concerns about pricing fairness. For instance, several reviews mentioning that a jeweler consistently offered prices significantly below market value for similar items would serve as a red flag for potential sellers. This feedback mechanism helps individuals avoid businesses with potentially unfair pricing practices.
By carefully considering customer reviews, potential sellers gain valuable insights into the strengths and weaknesses of local jewelry buyers. This information empowers individuals to make informed decisions, select reputable establishments, and navigate the selling process with greater confidence. Customer reviews, therefore, serve as a crucial tool for promoting transparency, accountability, and customer satisfaction within the pre-owned jewelry market. This feedback loop ultimately benefits both sellers and buyers by fostering a more ethical and trustworthy marketplace. The collective wisdom of past customer experiences provides invaluable guidance for future transactions, contributing to a more informed and efficient marketplace for pre-owned jewelry.
8. Legal Compliance
Legal compliance forms a critical foundation for businesses purchasing pre-owned jewelry. Adherence to relevant regulations protects both buyers and sellers, fostering a transparent and trustworthy marketplace. Understanding the legal landscape surrounding these transactions ensures ethical practices and builds consumer confidence. This framework of regulations safeguards against illicit activities and promotes a fair and secure environment for all parties involved.
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Anti-Money Laundering (AML) Compliance
AML regulations require businesses to implement procedures for identifying and reporting suspicious transactions. These measures aim to prevent the use of jewelry purchases for money laundering purposes. Jewelers must verify customer identities, maintain transaction records, and report any activity that raises red flags. For example, a large cash transaction for a high-value item might trigger reporting requirements. This compliance safeguards the financial system and prevents criminal exploitation of legitimate businesses. Non-compliance can result in significant penalties, reputational damage, and potential legal action.
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Know Your Customer (KYC) Requirements
KYC regulations mandate due diligence in verifying customer identities. This process involves collecting information such as name, address, and government-issued identification. KYC procedures mitigate risks associated with fraud, identity theft, and other illicit activities. For instance, verifying a seller’s identity helps prevent the sale of stolen jewelry. This practice protects both the business and the rightful owner of the items. Implementing robust KYC procedures contributes to a more secure and trustworthy marketplace.
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Record Keeping and Reporting Obligations
Accurate and detailed record-keeping is essential for demonstrating legal compliance. Businesses must maintain records of all transactions, including item descriptions, seller information, payment methods, and dates. These records facilitate audits, investigations, and compliance reporting to relevant authorities. For example, maintaining records of gold purchases helps demonstrate compliance with regulations regarding precious metal transactions. This meticulous record-keeping enables traceability and accountability within the pre-owned jewelry market.
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State and Local Regulations
State and local regulations often impose specific requirements on businesses buying pre-owned jewelry. These regulations might include licensing requirements, holding periods for purchased items, or restrictions on certain types of transactions. For instance, some states require businesses to hold purchased jewelry for a specific period before reselling it, a measure aimed at deterring theft. Compliance with these local regulations is crucial for maintaining legal operation and avoiding penalties. Awareness of and adherence to these localized regulations ensures businesses operate within the legal boundaries of their specific jurisdiction.
Adherence to these legal frameworks reinforces the integrity of the pre-owned jewelry market. By prioritizing legal compliance, businesses demonstrate a commitment to ethical practices, protect themselves and their customers, and contribute to a more secure and trustworthy marketplace. This dedication to operating within legal boundaries fosters consumer confidence and strengthens the overall health and sustainability of the industry. Legal compliance is not merely a set of rules but a foundational pillar supporting a fair and transparent environment for all participants in the pre-owned jewelry trade.
Frequently Asked Questions
This section addresses common inquiries regarding the sale of pre-owned jewelry to local businesses. Clarity on these points empowers individuals to navigate the process with confidence and make informed decisions.
Question 1: How is the value of pre-owned jewelry determined?
Several factors influence valuation, including metal type and purity, gemstone quality (if applicable), current market conditions, and any historical or artistic significance. Reputable establishments employ qualified appraisers who use industry-standard methodologies and tools to assess these factors and determine a fair market value.
Question 2: What documentation is required to sell pre-owned jewelry?
Generally, government-issued identification is required to verify the seller’s identity. Additional documentation, such as previous appraisal reports, certificates of authenticity, or proof of ownership, might be requested depending on the item’s value or provenance. Requirements can vary depending on local regulations and individual business policies.
Question 3: What payment methods are typically offered?
Common payment methods include cash, checks, and bank transfers. The available options might vary depending on the transaction amount, local regulations, and individual business practices. It’s advisable to confirm accepted payment methods with the specific establishment beforehand.
Question 4: How can one ensure a reputable buyer is chosen?
Thorough research is crucial. Factors to consider include online reviews, business affiliations, membership in professional organizations, and verification of licensing and insurance. Transparency regarding appraisal methods and pricing structures also indicates a reputable establishment. Recommendations from trusted sources, such as financial advisors or legal professionals, can further assist in selecting a reliable buyer.
Question 5: What security measures should be taken when transporting valuable jewelry?
Discretion is advised when transporting valuable items. Avoid displaying jewelry openly in public. Utilize secure transportation methods, such as a personal vehicle or a reputable transportation service. Insuring valuable items provides additional protection against loss or theft during transport. If possible, schedule appointments during daylight hours and choose well-lit, safe routes.
Question 6: What recourse is available if a dispute arises regarding valuation or payment?
Initially, open communication with the business is recommended to address the issue and seek resolution. If the dispute remains unresolved, consulting with a consumer protection agency or seeking legal counsel might be necessary. Maintaining detailed records of the transaction, including appraisal reports, communication logs, and payment confirmations, strengthens one’s position in case of a dispute.
Careful consideration of these points empowers individuals to approach the sale of pre-owned jewelry with informed confidence. Prioritizing research, transparency, and open communication ensures a smooth and legally compliant transaction.
For further information on specific regulations or local resources, consult the following section on relevant industry organizations and consumer protection agencies.
Tips for Selling Pre-Owned Jewelry
Successfully navigating the sale of pre-owned jewelry involves careful planning and informed decision-making. The following tips provide valuable guidance for individuals seeking to maximize returns and ensure smooth transactions within the local market.
Tip 1: Research Local Businesses Thoroughly
Comprehensive research into local jewelers specializing in buying pre-owned jewelry is paramount. Examining online reviews, business affiliations, and industry credentials helps identify reputable establishments with fair pricing practices and transparent processes. Due diligence in this initial phase mitigates potential risks and sets the stage for a positive selling experience.
Tip 2: Obtain Multiple Appraisals
Seeking appraisals from several reputable jewelers provides a comprehensive understanding of an item’s market value. Comparing appraisals allows sellers to identify discrepancies and negotiate more effectively, ensuring they receive a fair price based on current market conditions and the item’s intrinsic qualities.
Tip 3: Understand Valuation Factors
Educating oneself about the factors influencing jewelry valuationsmetal type and purity, gemstone quality (cut, clarity, color, carat), craftsmanship, and market demandempowers informed decision-making. This knowledge enables sellers to understand the rationale behind appraisals and negotiate from a position of strength.
Tip 4: Document Jewelry Characteristics
Documenting key characteristics of the jewelry, including photographs, previous appraisal reports, and any accompanying certificates of authenticity, strengthens the seller’s position during negotiations. This documentation provides tangible evidence of the item’s value and provenance, fostering transparency and facilitating a smoother transaction.
Tip 5: Inquire About Payment Methods and Procedures
Clarifying accepted payment methods (cash, check, bank transfer) and associated procedures, such as processing times and any applicable fees, ensures a smooth and efficient transaction. Understanding payment protocols beforehand prevents misunderstandings and facilitates timely receipt of funds.
Tip 6: Consider Timing and Market Conditions
Market fluctuations can impact the value of precious metals and gemstones. Awareness of current market trends can inform the timing of the sale, potentially maximizing returns. Consulting with industry experts or financial advisors can provide insights into optimal selling strategies based on market dynamics.
Tip 7: Prioritize Security During Transportation
Transporting valuable jewelry requires careful consideration of security measures. Discreetly carrying items in nondescript packaging, avoiding public displays of valuables, and utilizing secure transportation methods mitigate risks associated with loss or theft. Insuring valuable items provides additional financial protection during transit.
Implementing these strategies significantly enhances the selling experience, maximizing returns and ensuring secure, transparent transactions within the local pre-owned jewelry market. Informed decision-making, coupled with careful planning and attention to detail, empowers individuals to navigate the selling process effectively and achieve desired outcomes.
By understanding the nuances of the pre-owned jewelry market and implementing these practical tips, individuals can confidently and successfully sell their valuable items. The following conclusion summarizes the key takeaways and reinforces the importance of informed decision-making in this specialized market.
Conclusion
Navigating the landscape of local businesses that purchase pre-owned jewelry requires careful consideration of several key factors. Reputation, specialization, pricing transparency, payment methods, appraisal processes, and legal compliance all contribute significantly to a successful and secure transaction. Understanding these elements empowers individuals to make informed decisions, maximizing the value received for their items while minimizing potential risks. Thorough research, coupled with open communication with potential buyers, forms the foundation of a positive selling experience. Prioritizing these aspects ensures a smooth and equitable exchange within the pre-owned jewelry market.
The decision to sell valuable personal possessions represents a significant financial step. Approaching this process with diligence and awareness protects individual interests and fosters a more transparent and accountable marketplace. By emphasizing informed decision-making and ethical practices, the pre-owned jewelry market can function efficiently and equitably, benefiting both sellers seeking fair value and buyers acquiring valuable inventory. Ultimately, a thorough understanding of the factors outlined herein empowers individuals to navigate this specialized market confidently and achieve successful outcomes.