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Soaring gold prices prompting shoppers to invest in bling

goingbrokegoingbroke Posts: 1,410
in Precious Metals
HACKENSACK, N.J. — The run-up in gold prices is driving jewelry prices higher, and also is driving more people to buy jewelry as an investment.

People bring stuff in, and they basically do a trade-in, like a car
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Comments

  • ebaytraderebaytrader Posts: 3,312 ✭✭✭
    I would guestimate the sell / buy ratio is 100 / 1+.
    The only pieces that sell are quality vintage / antique. The only contemporary stuff that sells is name brand stuff like Tiffany. Otherwise it's D-E-A-D.

    99%+ goes to the melting pot.
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    Americans pay many, many multiples of the material contained in their jewelry for the jewelry itself. Anyone who sees buying over the counter jewelry from a mall store as anything resembling a store of wealth or heaven forbid an "investment" is kidding themselves.

    A simple machine-created necklace with $50 worth of gold will cost you $250 or $300. And remember the cash for gold places will give you $15 or $20 for it on a good day.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
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