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Will the gold drop affect the prices of Jewelry?

CakesCakes Posts: 3,630 ✭✭✭✭✭
in Precious Metals
I have been looking to buy a nice 14 KT gold chain similar to one of these and was wondering if I should wait. Are there any jewelers on here that can lend some advice?

BTW which of the two below do you like better?

Thanks,


Diamond cut style gold chain

Cuban style gold chain
Successful coin BST transactions with Gerard and segoja.

Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.

Comments

  • BAJJERFANBAJJERFAN Posts: 31,082 ✭✭✭✭✭
    Depending on the markup, you be smarter to wait until they buy inventory at a lower price.
    theknowitalltroll;
  • bestmrbestmr Posts: 1,778 ✭✭✭
    Jewelry has such a huge mark up, it's unreal. I don't see it going down in price for a while.
    Personally, I like the diamond one better.
    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • CakesCakes Posts: 3,630 ✭✭✭✭✭
    Thanks, good suggestions so far, keep em coming.
    Successful coin BST transactions with Gerard and segoja.

    Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    short answer: retail and other "new" jewelry, little or no decrease in jewelry prices when gold goes down, as relatively little of the price is the metal.

    wholesale new stuff perhaps, but scrap and other "used" that trades by weight: drop in gold prices should make the items proportionally cheaper when ugly to ordinary.

    Nice (beautiful, artistic, historic, tasteful, useful) stuff brings what the market will bear, as always

    Liberty: Parent of Science & Industry

  • s4nys4ny Posts: 1,569 ✭✭✭
    Reminds me of a conversation I had in a watch store.
    I was looking at 2 watches, the same model in stainless steel and gold.

    Each was identical other than the case. The stainless steel model was $3500, the
    gold model was $8500. I commented to the salesman that the difference was
    $5000, and there was maybe $1000 worth of gold in the watch.

    His comment was that it is more difficult to work with gold.

    Of course, the ancients worked with gold for thousands of years.
    I think they would have found stainless steel more of a challenge.
  • MGLICKERMGLICKER Posts: 7,995 ✭✭✭


    << <i>Jewelry has such a huge mark up, it's unreal. I don't see it going down in price for a while.
    Personally, I like the diamond one better. >>



    Not necessarily. My close friend is a jeweler, he marks up his gold chains 60% from cost and will deal a bit off of that. After Christmas, find a local seller and you can probably strike a good deal, based on the lower spot prices.
  • johnny9434johnny9434 Posts: 28,335 ✭✭✭✭✭


    << <i>Depending on the markup, you be smarter to wait until they buy inventory at a lower price. >>

    agreed with
  • CoulportCoulport Posts: 1,087 ✭✭✭
    Wait for after Christmas sales or if they offer pre inventory bargains.

    I had a rope chain (not diamond cut) with a Mexico 20 peso Aztec calendar. Looked real nice. Don't wear it any more. I now have a Thai baht in 22K that I rarely take off.

    For flash, I prefer the Cuban of the 2 you have shown.
    The most money I made are on coins I haven't sold.

    Got quoins?
  • morgantypemorgantype Posts: 456
    FWIW

    I picked up a nice gold chain back in 2010 when gold was about 1200 or so.

    I ended up paying 53-54 per gram for 18k.

    If you have the ability, I would go to your local jewelery mart and see what they have there. Ie where a lot of the wholesaling goes on.

    If you can avoid it I would stay away from zales etc.

    You might even try to call some of the gold vendors and do a deal over the phone if you are not local to ny/la jewelery marts.

    Good luck!
    Many buy and sell transactions. Let's talk!
  • MGLICKERMGLICKER Posts: 7,995 ✭✭✭
    Bunch of nice stuff actually sells on Ebay near melt, if you know what you are looking for and how to authenticate it.
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    +1 and a thumbs up for the baht necklace. I was fortunate to find Vietnamese jewelers who took a small portion of the value of the gold in the necklace as their fee for creating a piece to my specifications.

    I asked for a 24k gold necklace weighing 2 ounces, for which I paid $1120.

    Of course, that was April of 2005 image



    image
    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
  • PerryHallPerryHall Posts: 46,140 ✭✭✭✭✭
    I'm surprised that no one has suggested that you to post on the BST that you are looking for a gold chain with a description what you want. It certainly can't hurt and it won't cost anything.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,294 ✭✭✭✭✭
    It's the purity factor I worry about in such times, but I really like "baht".
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Gold jewelry prices will not be affected without a precipitous drop in gold value...... and even then, it will be slow and small. Cheers, RickO
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭


    << <i>It's the purity factor I worry about in such times, but I really like "baht". >>



    That is an excellent point. You have to find jewelers you trust. Just to be safe, I had my coin/bullion guy test my necklace. The highest touchstone acid he had was 22k and it tested that high easily.
    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
  • yellowkidyellowkid Posts: 5,486 ✭
    No.image Never buy new jewelry. How ridiculous is it to list a MSRP of almost $10,000 and offer it for a quarter of that?
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    With fashion jewelry, ya pay a lot extra over melt for brand new (this year's mfg) inventory, for QA certified perfect condition, and brand name lables, and fancy cases, and overhead and profit for folks who buy wholesale in quantity and get the stuff packaged and sell retail a piece at a time..

    sound familiar? image

    Liberty: Parent of Science & Industry

  • CakesCakes Posts: 3,630 ✭✭✭✭✭


    << <i>With fashion jewelry, ya pay a lot extra over melt for brand new (this year's mfg) inventory, for QA certified perfect condition, and brand name lables, and fancy cases, and overhead and profit for folks who buy wholesale in quantity and get the stuff packaged and sell retail a piece at a time..

    sound familiar? image >>



    Good suggestions, thanks.

    Enjoy the Holiday's everyone.

    BC
    Successful coin BST transactions with Gerard and segoja.

    Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
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