A buyer will carefully evaluate the characteristics of a diamond. Cut, color, clarity and carat weight all affect the value. Size has a significant impact on value. Larger diamonds of good quality can command a considerable premium. Constant changes in the market also have a significant effect on what can be offered for second hand diamonds. Small diamonds are often not worth a great deal, but they are often worth more in the mounting than loose. Some buyers will want to buy your jewelry just for the gold value and don’t even want the small diamonds. If the piece is in good condition and looks nice, there can be some added value for the diamonds if left in the jewelry. If the buyer wants to pull out the diamonds and scrap the piece, find another buyer!
Nowadays, many dealers are only interested in the gold content of your jewelry. They want to buy the item strictly for the gold value and have no interest in it as a piece of jewelry. They may say the stones are of no value, and may offer to pull them out and give them back to you, even if the jewelry is still in good shape! Your item of jewelry may have more value than just the gold if the stones are left in place. At Belle Roche Estate Jewelry Buyers, we won’t melt your fine jewelry!
2. Hold a magnet up to the item. Gold is not magnetic, so if it sticks to or pulls toward the magnet, it is fake. If it does not react to the magnet, it could still be fake, but made from a non-magnetic material. Note that the clasps of most gold chains will be attracted to the magnet because there are metal springs in the clasps.
3.Perform chemical acid tests. These tests are best left to the professional jeweler to do for you.
Gold has continued to drop this week. Down almost $50/oz since Monday.
New York Spot Gold Price June 22, 2012:
$1571.50 per ounce
New York Spot Price June 18, 2012:
$1618.20 per ounce
What is meant by “Karat content”?
Pure gold is designated as “24 karat”. This means there are 24 parts gold out of a possible 24 parts (100%). Gold jewelry is usually mixed with other metals, called alloys, which lowers the actual gold content and makes the gold harder. When you see a piece marked “18k”, that means 18 parts out of a possible 24 parts (18/24ths) are gold, which is 75%. The European designation for this is “750”, meaning 750 parts out of 1000 parts are gold. Therefore, 25% of the metal in the piece is some other alloy, such as silver, nickel, or copper. Markings, however can be counterfeit.