selling jewelry advice

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YogiBerraFan
YogiBerraFan Posts: 2,390 ✭✭
in Precious Metals
My wife cleaned out her jewelry box of stuff she won't wear anymore. Are used items only worth melt or is that only for broken items? She takes pretty good care of her stuff, none of it is broken. A couple of pieces were probably only worn a few times. Can anyone offer any advice on the best way to sell this stuff? She wants to add the money to our vacation fund. Any advice is greatly appreciated.

There are two 10k items that weigh 3.37 grams & seven 14k items that weigh 37.70 grams

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  • nibanny
    nibanny Posts: 2,761 ✭
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    My only experience with "old" jewelry was with some cufflinks, earrings and pendants I sold a while back.
    If they are good to wear and you can picture them the right way, eBay may be worth it.
    If I recall correctly I got at least melt. They were nice and 18K though.
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • DoubleEagle59
    DoubleEagle59 Posts: 8,433 ✭✭✭✭✭
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    Maybe this will help....

    First of all, if we take 100% value at today's $1592 price,

    then 1 gram of 10K is worth $20.90,

    and 1 gram of 14K is worth $29.90.

    You have 3.37 gr of 10K, so that equates to $70.40

    and 37.70 grams of 14K which is $1127.23.

    That's the good news, now here's the bad news.....

    You can never get 100%.

    The person or dealer buying from you can only get 90% to 95% of the total.

    Let's take the lower 90%.

    Then the dealer gets 90% of $1127 + $70...which is $1077.

    If the dealer gets $1077, you're going to get less.

    How much less depends on the profit margin and the integrity of whoever you choose to deal with.

    I think a fair price you should get is somewhere between $850 and $950 and if you're lucky, perhaps a little more.
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • YogiBerraFan
    YogiBerraFan Posts: 2,390 ✭✭
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    Thanks for all the advice so far. Does anyone have any experience selling used jewelry on eBay? I am wondering if items at auction typically go for around melt or if sometimes they go for well below. I am guessing I will loose 12% or more from fees (eBay & PayPal).
  • roadrunner
    roadrunner Posts: 28,374 ✭✭✭✭✭
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    One local vest pocket dealer I know of pays 90-94% of spot for scrap jewelry. He in turn gets 98% of assayed spot from the smelter.
    If you go to a local coin shop expect at best 80-85%. Pawn shops and jewelers are frequently in the 15-60% range. In fact the 2 jewelers and
    pawns that my son tried offered 15-20%. A reputable coin shop is probably your best bet.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • Staircoins
    Staircoins Posts: 2,590 ✭✭✭✭
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    Good advice you've been given so far.

    The only exception is if any of the pieces are by high-end designers ( i.e. Tiffany, Cartier) or styled nicely enough to be desireable as 'estate' pieces. Lacking stones, however, even many of these pieces are often purchased by weight as well.

    Good luck!



  • jdimmick
    jdimmick Posts: 9,992 ✭✭✭✭✭
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    For reference , we would pay 933.00 for what you listed if you came in to the store to sell to us at 1585.00 gold.
  • jdimmick
    jdimmick Posts: 9,992 ✭✭✭✭✭
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    Maybe paying a little less over the next few weeks, I need to make an extra 30-40k this month so i can have a little extra to spend at the battleborn sale .

    Just kiddin, I wouldnt short somebody becuase I want a few extra coins

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