Selling jewlery... how to go about it...

lkenefic

Hello everyone... I've sold many coins both on ebay and on the BST forum and it's pretty straightforward... you have your coin; post a good description and image; set a reasonable price; sell coin...

...my question to the group is: How does one go about selling gold jewlery on the BST? Is it the same deal? ie: I have a piece the weighs however many oz's of gold ... here's the price... I wait for my check and then send out the merchandise... or do thing work a bit differently?

Thanks in advance... Leo

gecko109

Jewelry is not as liquid as bullion obviously. The problem lies in the unknown fineness of the metal. Even though a chain is stamped 14kt (58.3% gold), it may very well be just 56% gold once its melted....perhaps even less if the manufacturer was dishonest! For this reason, I would never buy jewelry for scrap content unless there was a significant discount. However, if the piece was nice enough that my wife might enjoy wearing it, I might pay as much as straight melt on a nice piece. If you are asking for advice on what to set your asking price at, calculate the "melt" , state the weight in grams, state the stamped fineness, and state the melt value. To sell quickly, ask about 85-90% of the number you come up with. You could try asking for more, but most people will shy away unless its something they intend to actually wear.

dontippet

Make sure ALL stones are out before weighing the jewelry. As for me, I won't pay 85-90% of melt. I pay approx. 40-75%. The refinery usually pays around 95%, and 10k is usually about 9.5k, and inevitably, there is some non-gold content. In my opinion, paying 85% (not including shipping twice) would barely break me even at best.