Gold chain

csanotes

May be slightly off topic but does relate to gold, just not the usual bullion coin or bars. Whats the rough ballpark for a gold chain buy/sell according to forumites for a chain thats 14k and weighs right at 30 grams? I can figure out that 30 is almost a troy ounce...but not sure how much premium there is..just looking to get a gold chain for a friend, but I'm sorta in the dark on this area. Thanks in advance

RedHerring

If the gold is 14K and the chain weighs 30g, then there's about $500 worth of gold in it at $900/oz gold spot.

I wouldn't pay much, if any, premium over spot unless she's a very good friend.

csanotes

Haha..she's a good friend..but not as good as it would cost. He said it was $1200, but would give me a deal for 900...hmm...only 500 in gold...ummm...no! Just one of the probably 50-70 jewelry buyers/stores/pawn shops within a 3 block stretch in Boston.

papabear

Try this Text

Papabear

coynclecter

You're gonna be looking a long time if you think you can get any jewelry at spot + 10%. Can you get a book or a gallon of milk at cost plus 10%?

Unless you are buying used then expect to pay spot +50% easy for any fabricated piece, unless you think they will melt the gold, create the chain, ship it to the retailer and have him pay to stock it, all for free.

And of course you will probably expect to pay with a Credit card so he can add 4% to his cost before he sells to you at spot.

csanotes

Thanks for the link Papabear-I know they need to make a living but I'll for sure shop around to a few of the jewelry dealers, and then some of the non-junky real retail stores.

RedHerring

<< <i>You're gonna be looking a long time if you think you can get any jewelry at spot + 10%. >>




Pawn Shops across the country are flooded with jewelry for sale at spot + 10%. If you are near any city with 50,000+ residents, it's worth a look as much of this has been sitting in a jewelry box and is essentially "new".