Gold and Diamonds

quarterguy

Does anyone know anything about gold/diamond ladys bracelet? How to determine worth and how to sell it off? I have one that was purchased for $10,000 that I am trying to sell for a friend in need. It is 14kt 2 tone bracelet channel set with (42) .04ct diamonds of J-K color and Il clarity. It weighs 13.7 dwt. There are 6 round diamonds channel set in each of the 7 rectangular links. Total diamond weight is 1.68 cts.

Shape and cut.... round brilliant cut diamonds
carat weight.... 3.5 carat
clarity.... vs2/sl1
color grade.... g-h
gold carat.... 14kt
gold type.... yellow gold
gram weight ... 21.50 grams
setting.... hand channel set with 42 diamonds

Purchased for $10,000

I have a jewelers insurance documentation appraisal where the replacement value is stated as $8995.00.

This person would take much less and I will assist in the purchase if the buyer wants to partially trade coins, gold, or silver.

Any help would be appreciated. We do not want to shop local jewelers.

PM or email me at mhnies@hotmail.com

PerryHall

You may have better luck on the buy, sell and trade forum.

mrpaseo

Let me guess, only bank wire, no returns?

pharmer

<< <i>Does anyone know anything about gold/diamond ladys bracelet? How to determine worth and how to sell it off? I have one that was purchased for $10,000 that I am trying to sell for a friend in need. It is 14kt 2 tone bracelet channel set with (42) .04ct diamonds of J-K color and Il clarity. It weighs 13.7 dwt. There are 6 round diamonds channel set in each of the 7 rectangular links. Total diamond weight is 1.68 cts.

Shape and cut.... round brilliant cut diamonds
carat weight.... 3.5 carat
clarity.... vs2/sl1
color grade.... g-h
gold carat.... 14kt
gold type.... yellow gold
gram weight ... 21.50 grams
setting.... hand channel set with 42 diamonds

Purchased for $10,000

I have a jewelers insurance documentation appraisal where the replacement value is stated as $8995.00.

This person would take much less and I will assist in the purchase if the buyer wants to partially trade coins, gold, or silver.

Any help would be appreciated. We do not want to shop local jewelers.

PM or email me at mhnies@hotmail.com >>



Is this a sight unseen kind of deal?

mrpaseo

<< <i>Is this a sight unseen kind of deal? >>



This is a "Trust me" kind of deal.

quarterguy

Let me guess, only bank wire, no returns? What the heck kind of a statement is that?

I am trying to get some advaice here not trying to rip anyone off! Are you a buyer or just a wise guy?

quarterguy

No, I would not expect to sell this sight unseen.

quarterguy

mrpaseo ...... you said.... This is a "Trust me" kind of deal.

I asked for advice, I did not offer any a "deal" of any kind to anybody.

dragon

From what you described and if it is used, it sounds like it's worth about 1/3 of the appraisal you quoted.

quarterguy

dragon..... thank you for your input.

A third would be 3000. Others have told me 1000 to 2000. It is used but you would be hard pressed to prove it.

I have never tried to sell jewlry before but it seems whatever you pay retail you can't then sell for but for arouind 15 to 20% of the purchase price. Seems like an awesome mark up. Too much to even be fair.

AU58WALKERS

"I have never tried to sell jewlry before but it seems whatever you pay retail you can't then sell for but for arouind 15 to 20% of the purchase price. Seems like an awesome mark up. Too much to even be fair."

This is a fact of life.

storm888

The "high value" of this type of piece is largely in its
beauty and function as a piece of jewelry. Costs of
design and maufacture make up most of the "value."

If you can find an end-user who needs a pretty piece
of jewelry, you will maximize your take. You might try
EBAY and show a picture of the insurance document.

Stones like you describe are routinely purchased by
NY wholesalers for not much more than $1.00 a point.
The gold is always worth 85% of full-melt.

Since a reputable pawn-broker would be hard-pressed
to loan more than 10% of your insurance document, you
really need to find someone who wants to buy the
piece because it is pretty and functional.

Jewelry - with some exceptions - is not a storehouse of
value.

Good Luck.

storm

commoncents05

<< <i>I have never tried to sell jewlry before but it seems whatever you pay retail you can't then sell for but for arouind 15 to 20% of the purchase price. Seems like an awesome mark up. Too much to even be fair. >>



No, that sounds about right. Thats why a lot of people who come in to our coin shop see we also do jewelry, and we offer it an extremely low prices. We simply sell for scrap gold price.

-Paul

coynclecter

The diamonds are not much more than chips. The quality is almost irrelevent. The big scam in jewelry these days is TCW or Total Carat Weight. It fools amateurs into thinking it means something. 1.68 TCW is nothing near the value of a 1.68 ct stone.

Those stones have very little value and the gold is under an ounce and only 14 ct, about 60% gold value is under $400, Stones are really not anything anyone would reuse.

Bottom line is ...someone got screwed. The piece probably cost about $1000 wholesale its value is strictly based upon how much someone might like the look. Mall jewelry store material.

Never buy from the mall jeweler.

I have a great source if anyone needs one just PM me.

pharmer

In what way would one from your great source differ from the one described above?

mrpaseo

<< <i>Let me guess, only bank wire, no returns? What the heck kind of a statement is that?

I am trying to get some advaice here not trying to rip anyone off! Are you a buyer or just a wise guy? >>



I admit, I am a wise guy, sorry, I was just poking fun.



Again, I display I am an idiot...lol

quarterguy

Thank you all for your comments and advice. I really appreciate it.

Michael

quarterguy

mrpaseo.... no problem, thank you.

jamakin

Heritage has a jewlery auction now and then. Call them and see what they think.

dragon

<< <i>dragon..... thank you for your input.

A third would be 3000. Others have told me 1000 to 2000. It is used but you would be hard pressed to prove it.

I have never tried to sell jewlry before but it seems whatever you pay retail you can't then sell for but for arouind 15 to 20% of the purchase price. Seems like an awesome mark up. Too much to even be fair. >>






Just based on your written description, please keep in mind that price I guessed at would be a full retail resale price for someone who really liked the piece and wanted it, a wholesale resale price would probably be significantly less as others have correctly pointed out.

In general, used gold jewelry typically brings somewhere around its melt value or a bit more depending on what it is, and usually a bit under melt to a jeweler or other wholesale buyer. Your best bet may be to put it on Ebay with some really nice pics.

BlindedByEgo

<< <i>The "high value" of this type of piece is largely in its
beauty and function as a piece of jewelry. Costs of
design and maufacture make up most of the "value."

If you can find an end-user who needs a pretty piece
of jewelry, you will maximize your take. You might try
EBAY and show a picture of the insurance document.

Stones like you describe are routinely purchased by
NY wholesalers for not much more than $1.00 a point.
The gold is always worth 85% of full-melt.

Since a reputable pawn-broker would be hard-pressed
to loan more than 10% of your insurance document, you
really need to find someone who wants to buy the
piece because it is pretty and functional.

Jewelry - with some exceptions - is not a storehouse of
value.

Good Luck.

storm >>



Quarterguy, the above basically says it as well as I could have. I only had a couple of years in the retail jewelry biz, but I did learn that 1000% markups are common, with half off sales - even 70% off sales leaving a large margin.

In a word, your buyer at 10K got hosed. In the past 7 years I have bought pounds of used jewelry at 10 to 25% back of melt. It costs me 5 to 7% back of spot at the refinery. The only way I have made any profit was in the rise of gold prices.

.04 ct ( 4 point) diamonds of that grade are (and I don't have a blue sheet in from of me) maybe $800/ ct., and I would expect to buy them at 55-60% of sheet.

As used jewelry, I would never pay more than $500.00 for such a piece.

Retail jewelry is a racket. For the consumer, it is never an investment - it should be viewed like a consumable.

Goober

As a side note I used to work for a retailer in '94. We had a jewelry counter, and often had sales at 50-70% off. People were "amazed" at the "savings". I had to scan in all the jewelry that arrived via "security" shipments. My scanner would list our cost. For instance. An item that had a retail tag of $120 we paid $8-$10 for. A $50 item would be sitting at $300-$400 retail. The jewelry mark up is unbelievable.

quarterguy

Thank you to everyone here that shared their knowledge with me.

I would have never imagined the mark up would be 1000%. Just doesn't seem like it would be possible.

Thanks again..... Michael

fivecents

<< <i>Let me guess, only bank wire, no returns? >>

What knid of Jacka$$ statement is that mrpesto. I have done business with quarterguy...he is a real honest and stand up guy. He is not trying to sell it here, just get a basic value on the item.

quarterguy

fivecents........

guess you got your fivecents worth in ....... thanks for the kind words, it is appreciated!

Michael

fishcooker

When I worked in a jewelry business, they marked up items 9 to 10 times their wholesale purchase price. They offered free repairs and maintenance for several years....... and it was cheaper to give retail customers a new replacement than repair their used one (we didn't deal in $10k items!). We just hoped their item was discontinued.

ricko

Very interesting discourse... Thanks, Cheers, RickO

ricko

I have just had this input.. via email.. from a friend who is familiar with this piece of jewelry and is not a member of these boards... some added facts..

"The original poster erred when he said the total caret weight was 1.68
carat. The 42 .04 carat diamonds total 1.68 carat, but there are also 6
larger round brilliant cut diamonds as well. If you look after his
initial paragraph where he gives the specifics it lists a 3.5 carat
total weight. So the 6 larger diamonds are just under a third of a
carat each.

Still typical jewelry store markup is 400% so if it sold for $10,000
wholesale would be $2,500. If you use the appraisal value it's $2,250.
If he needs to sell it fast that is probably all he can expect. If he
can take more time and try to find someone who wants it for personal
jewelry, he should be able to do better but it may take awhile."

Cheers, RickO

Coxe

Insurance appraisals are high compared to resale value by their nature. If the stones were not removed for the appraisal, and likely weren't, it is also unreliable as a set stone cannot be accurately appraised. Nonetheless, the diamonds are small and common. Diamonds themselves are not rare at all. Large, defect-free, well-cut diamonds are rare. It is worth what one can get another retail buyer on resale to pay. The appraisal and sales receipt might impress someone out there to pay a good bit of that. A knowledgeable and willing buyer probably would pay a depressing fraction of the original price. Makes one appreciate coins all that much more.

quarterguy

thanks ricko

ricko

De Nada.... Cheers, RickO