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Speaking of Gold Jewelry

WestySteveWestySteve Posts: 567 ✭✭✭
in Precious Metals
I know a guy who buys gold jewelry for less than melt and sells it for melt value. Some of them have small, virtually worthless, gems in them. I'd like to cherrypick some of the nicer ones and try to resell them. What's a price to pay him for them that is fair to him and me? Maybe 30% above melt?

Also, what is a fair price per gram if I wanted to sell gold jewelry to a buyer? $20 a gram?

Thanks for any help.

Steve

Comments

  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭


    Get it at melt or don't bother. 30% over is too much. Rings are easy to move , the rest .......image
  • cohodkcohodk Posts: 19,137 ✭✭✭✭✭
    I go to shops looking exclusively to buy good quality jewelry but I wont pay over melt. I have a good outlet if I ever need to scrap it, or keep it for those "special occasions". image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭


    << <i>I go to shops looking exclusively to buy good quality jewelry but I wont pay over melt. I have a good outlet if I ever need to scrap it, or keep it for those "special occasions". image >>



    It should be pointed out , that when considering jewelry for"special occasions" while it is nice to have some tucked away , you don't want it to be in the form of a ring. image That could cause you more trouble than whatever problem you are attempting to defuse.


    The reason I don't like other than rings is because Santa's elves over in dingdong province china are very willing to stamp 14k on a brass chain painted gold. You can test a ring much more easily than a tiny chain with 879 links .




  • WestySteveWestySteve Posts: 567 ✭✭✭
    Can someone click on the link on my signature file and tell me if it's working? Thanks.
  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭


    Link work here image
  • StaircoinsStaircoins Posts: 2,566 ✭✭✭

    Your link works, but the bottom half of the word "available" is cut off.
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Link works fine..... Cheers, RickO
  • WestySteveWestySteve Posts: 567 ✭✭✭
    Thanks. The album is private, so I wasn't sure whether a provided link would work or not.
  • jdimmickjdimmick Posts: 9,676 ✭✭✭✭✭
    Don't pay more than melt, the best refineries only pay 99% at best, and if your taking the stones, you are actually saving him on gold weight loss.

    I buy at 85-88% of melt and sell direct
    Most gold buying shops pay 60-70%

    10k = .417
    14k .585
    18k = .750

    so for example at 1243 gold a 14 gram bracelet would be Melt 23.31 per gram at 100% 326.00

    at 85% 19.82 per gram 277.00

    at 70% 16.31 per gram 228.00

    I buy from several dealers, and often times I am in their shop collecting the gold. I have been in several times (an overhearing the deal) when their customers come in to sell, and let me tell you many of them burn people a new azz hole. If people would only check around , they would get a wake up call.
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    Checking around takes some effort and a modicum of intelligence... many people would rather not put in the effort to educate themselves. It's one thing when you're talking about an elderly person who is no longer "with it." But for anyone younger, they have only themselves to blame for falling prey to lowball offers.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • WestySteveWestySteve Posts: 567 ✭✭✭


    << <i>Don't pay more than melt, the best refineries only pay 99% at best, and if your taking the stones, you are actually saving him on gold weight loss.

    I buy at 85-88% of melt and sell direct
    Most gold buying shops pay 60-70%

    10k = .417
    14k .585
    18k = .750

    so for example at 1243 gold a 14 gram bracelet would be Melt 23.31 per gram at 100% 326.00

    at 85% 19.82 per gram 277.00

    at 70% 16.31 per gram 228.00

    I buy from several dealers, and often times I am in their shop collecting the gold. I have been in several times (an overhearing the deal) when their customers come in to sell, and let me tell you many of them burn people a new azz hole. If people would only check around , they would get a wake up call. >>



    Most of the rings I'm seeing are around 2 grams. So if they were pure, that'd be just under $47. But for 10K/14K, if I take about half of that number, I get $27 or so. So if I'm offering $40 for someone to stick one in an envelope and mail it to me, that's pretty fair, right? The new settings sell for at least double that price...which takes most of the profit out of what I'm doing. I'll let ya'll know how this works....kind of an experiment right now.

    Steve
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