Advice on selling Gold?

[Extra Innings]

I am planning on unloading a bunch of 18k pieces. Whats the going rate and how is it measured?

Is it true that some of the high end shops work on 25% margins?

[mrmarket]

Bring him to a street corner in New Jersey. His dancing and natural bald reflection will attract the bears no problem. Higher hourly rate than picking 55% too!

[ngates815]

Good luck.


Not sure how you can get for that stuff, but I don't think it is anywhere near what the going market is for....Are you selling chains/rings/jewelry?


I believe it is measured on a scale....You will get next to nothing for most things.

[no1here]

be sure to pre weigh and just hunt around for best price at the moment. Craiglist has offers as well as flea markets which should be higher then stores with overhead. I like gold to go higher.

[Extra Innings]

Good luck.


Not sure how you can get for that stuff, but I don't think it is anywhere near what the going market is for....Are you selling chains/rings/jewelry?

A 18k chain (rope) and a specialized bracelet with my name, old piece when name bracelets were popular

[Extra Innings]

be sure to pre weigh and just hunt around for best price at the moment. Craiglist has offers as well as flea markets which should be higher then stores with overhead. I like gold to go higher.

Thanks

[ngates815]

Yea....Don't take the jewelry to pawn shops, you will get next to nothing....maybe 50 bucks if you're really lucky.


I went with a buddy that had a big rope silver chain that cost him over 140 bucks, they offered 9 bucks for it at the pawn shop, he laughed and walked out.

[ngates815]

Try the Cash 4 Gold, sometimes those guys are at local malls, or somewhere like that. Sometimes I'll be driving and see signs for that stuff. I think that would work alot better than a pawn shop. I think the Cash 4 Gold, they send you an envelope, you just send it back (no cost) and they get back to you with a price, if you agree, they keep it otherwise they send it back to you. And from what I've heard they are somewhat reasonable on the offers, but have no first hand experience in it.

[lemart5]

Try the Cash 4 Gold, sometimes those guys are at local malls, or somewhere like that. Sometimes I'll be driving and see signs for that stuff. I think that would work alot better than a pawn shop. I think the Cash 4 Gold, they send you an envelope, you just send it back (no cost) and they get back to you with a price, if you agree, they keep it otherwise they send it back to you. And from what I've heard they are somewhat reasonable on the offers, but have no first hand experience in it.

Cash for Gold will not give him a fair price.Look through the phone book for a bullion company .

[pavyracer]

buy low sell high

this is my advice

[Extra Innings]

I will try a wholesale jewelry place as well as one of those "Cash for gold" places in the mall. A reputable source told me to accept nothing less than 80% market value.

[wtf]

jj is for sale

[jjgold]

extra innings

asking for advice here about gold

your a funny guy

[Extra Innings]

extra innings

asking for advice here about gold

your a funny guy

What do you mean I'm funny
You mean the way I post
You mean, let me understand this cause, ya know maybe it's me, I'm a little ****** up maybe, but I'm funny how, I mean funny like I'm a clown, I amuse you I make you laugh, I'm here to fuckin' amuse you What do you mean funny, funny how How am I funny

[Rio DiNero]

You have received awful advice in this thread, do not follow it. You need to see how much it weighs, and then you can get an accurate price.

[Doug]

Yep, weigh it. Cash4Gold and most places are ripoffs. Gold is 1310 an ounce now. There are 31.1 grams in an ounce.

So about 42.12 a gram

18k is 75% pure

42.12 X .75= $31.59 a gram

You should get about 90% of that from an honest dealer or about $28.43 a gram. Some places will pay you like $5 a gram.

Call around and check prices....if they won't say, they are crooks.

[KingKolzig]

too bad u cant sell ur belly lard

[Doug]

I've heard good things about this place....

http://midwestrefineries.com/

but have not used them personally. I have a local coin dealer that I use for stuff like this, I've known him for years and he pays honest prices.

[scott235]

EI, for the love of god, please change your avatar and I will send you 25 points. Do it quickly as I'm logging off soon.

[Doug]

agree that avatar is not good....

[R6MC]

Don't.

[Doug]

Be very leary of these "we buy gold" places on every street corner. My wife sold her class ring today ( doesn't need it, hasn't worn it since HS). It was about 6.5 grams of 10 karat gold. She stopped at one of those rip-off places, they offered her $15. I had estimated $100. The honest coin dealer paid her $98 for it. No way somebody should be paying 1/6 of an honest price for something. Obviously this is junk gold, nobody wants your class ring for anything other than melting it.

These places that advertise on TV could easily be paying 15% of value. Know the weight of stuff and then you can come up with a value and compare prices. It's the only way to do it. Most buyers are trying to rip you off, BIG-TIME !

[Extra Innings]

tnx for the info Doug

[harlee71]

Weigh it up, then call around and tell them what you have, what you were offered, and what you want for it.

That is the best way. Use Doug's calculations.

[Doug]

The thing is most places won't give you a price over the phone because 90%+ of these Gold buyers want to steal it from you for 15% of its value. An honest buyer will quote a price over the phone, something like $15 gram for 10 Karat is proper with $1350 gold. Some use pennyweights ( that's fine) it can easily be converted. No phone price means they are crooks.

[harlee71]

No phone price = crooks!!!

Good advice doug!

[flyingillini]

It's not going to go much higher. I just dropped 200k in Mining Stocks in India. Baruch HaShem!

[Doug]

I hate to see people get ripped off on anything. Something like sportscards might be a bit more subjective.

Something like a 6.5 gram 10K gold ring isn't very variable. You pay about $100 for it at $1350 gold. I could see maybe paying $75 for it and having a conscience and a high margin of profit.

$15 is stealing, $50 isn't much better.

Seller beware !

[Extra Innings]

thank u...very good info Doug!

[Snowball]

what is it with the Jesus haters
very insecure

[Extra Innings]

what is it with the Jesus haters
very insecure

It's Jesus with a Shot Gun.

[Doug]

good luck with it , EI !

You should get close to what I suggest, adjustments ( deductions) might be needed for stuff like fake rubies ( red stones) in a HS class ring.

Wife had a 10karet ring and an 18K charm thing. I nailed it almost to the dollar without a scale, just bouncing it around in my hands and guessing the the weights. I said $130, honest dealer paid $128, damn i'm good ! I still got the feel from my dope dealing days. eh ?

That ring feels like 7 grams to me, lose a half gram for the stone and it's 6.5 grams. at $15 a gram.

Blew her mind !

[Extra Innings]

good luck with it , EI !

You should get close to what I suggest, adjustments ( deductions) might be needed for stuff like fake rubies ( red stones) in a HS class ring.

Wife had a 10karet ring and an 18K charm thing. I nailed it almost to the dollar without a scale, just bouncing it around in my hands and guessing the the weights. I said $130, honest dealer paid $128, damn i'm good ! I still got the feel from my dope dealing days. eh ?

That ring feels like 7 grams to me, lose a half gram for the stone and it's 6.5 grams. at $15 a gram.

Blew her mind !

I plan on just investing in a scale (the ones you see sellers using on ebay) and then using your formula. I have about 10 pieces ranging from 18 to 14k. Everything you stated regarding "fairness" makes sense and I appreciate your insight. I'll keep you updated.

[Snowball]

It's Jesus with a Shot Gun.

yea well when He comes back he will have the shot gun of all time.

[Extra Innings]

yea well when He comes back he will have the shot gun of all time.

Yes