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Selling jewelry tip

Offline Alias

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Selling jewelry tip
« on: January 12, 2012, 09:08:28 PM »
If you get into selling jewelry or scrap gold/silver/platinum here's my two cents on finding honest buyers.....

I first took my friends wife's engagement ring. She had all the insurance papers and appraisals. Both insured value and retail. Also separate appraisal on "true value". Listed gold content/quality. Jem weight, size, cut, clarity.....
I shopped it around to jewelry stores and pawn shops. Found almost all gave WAY low offers. Either totally lied or didn't know what they were talking about.  Couple "showed me" bad coloring by holding it up to the light, but had already been told this trick. (they have bad lighting they hold it up to).
Others "tested" the gold and said it was plated....

Anyway, I was able to shorten the list. I can't saw the couple shops I use are total legit or not underpricing me. But they are consistent with each other (take piece's to all three and get approximately same info and price)
Plus they appraise my stuff for free even if they know I'm going to toss it on eBay and not sell to them.

Highly recommend doing similar tactic. Though remember, they have to by low. They have to eat too! 

I have no problem selling a $700 Tiffany's braclet for $150 since I know they are going to have to sit on it for a long time and then get $300?

And watch the resale value vs. Scrap value! Sold a few pieces thinking resale and later did the metal weight value and kicked myself!  Live and learn. 

Re: Selling jewelry tip
« Reply #1 on: January 13, 2012, 12:46:47 PM »
okay,

rule of the thumb. 
do not sell gold or silver to those people unless your in need of hard cash in a hurry. 
You can sell your gold and silver in a one day listing. 

what i ll do first,  invest in testing kits. 

Get a silver testing kid (scratch and liquid tester) and same thing for gold.  Get all kinds of liquid tester for gold. 

invest in a led lighted jewelry magnifying glass

then invest in a dwt/ounce scale. 

I say 50 bucks for all of it from the bay. 
when you sell your jewelry, you can appraise it yourself and describe it on ebay.  You will get 100% spot sometimes you ll go over to 125% spot instead of getting 65% spot from the jewelry stores or those buy gold/silver places.


trust me, it works. 

for example.  I have a gold ring with ruby stone in it. 

I weigh it, i put my weight down on paper.   I use the magnifying glass to see what kind of gold it is.  I see 14K.  then i go to this website - lets say the ring weighs 3 grams or 1.93 DWT

thats 91.75
goldcalc.com

throw it on ebay and say you can expect 80.00 for sure and it will stop at 80 or continue on after the 80.00 mark. 

You also have to tell them that the weight is only gold, not ruby, thats excluded and is a bonus. 

make it sound enticing and they sometimes will bid way over 80.00 because it has a ruby with it. 


If you want to go overboard on your testing kit,  you might as well get a ring sizer so you can really decribe the ring in details. 







Offline Alias

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Re: Selling jewelry tip
« Reply #2 on: January 13, 2012, 02:57:19 PM »
I need to invest in some jewelry kits. Had acids but found about about 6months after opening they don't work....? Go bad somehow.

Really want a diamond tester. Just cause it's cool. Don't really need it.

So I know you can figure out the weight of a diamond by size but if you have s gold/silver ring with a stone other than a diamond, lets say Masonite or jade mounted in silver....how to you figure out the metal weight?

I know Masonite is like 50%-ish heavier but can't find and exact chart.....


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