Gold is down to a 4-year low, the hotel buyers have gone home and most people have already cashed in on their scrap gold. But there are still many other things of value that gold buyers won’t buy. Belle Roche Estate Jewelry Buyers buys more than gold. For example, below is an antique necklace made from faux tortoise shell and a shell called cat’s eye operculum. No gold or silver but it has value.
- You can negotiate a higher price for a large vs. a small quantity of gold.
You can negotiate a higher pri Continue reading
There are generally three types of appraisals: Insurance Replacement Value, Fair Market Value, and Liquidation Value. Most appraisals are done to provide an insurance replacement value and therefore are on the high side of retail value. Getting this type of an appraisal in an attempt to find out what your jewelry is worth to sell can be a huge waste of money. This will not help you determine resale value in the second hand market. If you do decide you want an appraisal for the purpose of selling your jewelry, it should be done by an appraiser who is not also interested in buying used jewelry to avoid any conflict of interest. Be sure to tell the appraiser what the purpose of the appraisal is to avoid getting an unrealistic value for resale.
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.
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.
Karat content is determined by acid tests. Then the gold is weighed and the actual gold content is calculated. That day’s New York gold price is used to determine the price that will be paid. Most jewelers use grams for these calculations, but some gold buyers use pennyweights (DWT) instead. There are 20 pennyweights per Troy ounce, rather than 31.1 grams per Troy ounce.
Some dealers will quote you a price per pennyweight without telling you it is being quoted in pennyweights. The price will sound higher and this can be used to deceive you. For example, if one dealer offers you $20 per unit of weight and another offers you $15, which one would you take? If your 14k gold weighed, for example, 1 Troy ounce, the first offer of $20, in pennyweights, would net you $400. The second offer of $15, in grams, would net you $466. So when you get a quote, be sure to ask if the quote is in grams or pennyweights. Compare other offers using the same unit of measurement.