Lessons Learned from Years with Gold
Tips for Buying Gold Jewelry Jewelry of all types, specifically gold jewelry, is one of the most common things to buy for oneself and as a gift. Unfortunately, in the huge majority of jewelry purchases, people pay an extremely high price. The ordinary jewelry sale is calculated at “triple keystone” price, which is called triple cost by the trade. Thus, if an item is listed at a price of $3,000, the jeweler has probably paid $1,000 for it. He might may give you a “discount” of a 20 percent, reducing the price down to $2,400. Don’t think you’re taking advantage of his kindness – he will be pocketing $1400, a 140% profit on an item he bought for $1,000. You need to know the essentials of gold jewelry. Jewelry marked “750” is 750 parts gold and 250 parts alloy, meaning it is 75 percent pure gold, analogous to the purity of 18-carat gold. Fourteen-carat gold, which is stamped “585,” is 60 percent pure gold. Following the same logic, “375” or 9-carat gold is 37.5 percent pure gold. In England, people have high regard for 9-carat gold, but that is not the case in the US., where it is classified as costume jewelry and hence not a good investment. You can probably never resell it for any amount close to what you paid for it. Generally speaking, jewelry is sold according to its pure gold weight. To know your gold jewelry’s base value, you have to weigh it on a jeweler’s scale. Whatever its weight, you have to make deductions for the alloy content in the gold: for instance, since 18-carat gold is 75 percent gold, you’ll have to deduct 25 percent from the value to arrive at its gold weight. Hence, if the gold is presently priced at $1,000/ounce, and you have an 18-carat 4-ounce piece, the value of pure gold in the metal is $3,000, which is the least amount you could get if you were to sell it.
Rings – Getting Started & Next Steps
On the other hand, if you bought the same 18-carat piece on Forty-Seventh Street, you will most likely find a store that sells it for some $4,000, which is around a third above its weight. Outside of the jewelry district, triple keystone is the standard, so expect the same pieces to be sold for approximately $9,000. Clearly, the above doesn’t apply to pieces created by designers like Cartier or Bulgari, where a three-ounce pure gold bracelet can have a price tag as high as $30,000 – its weight 10 times over. But then again, there are rather well-designed pieces by world famous jewelers, so you will be paying a very reasonable premium for the design and the “name.” However, if you should sell these designer pieces, although you will certainly get some premium over weight, it is not going to be vastly more than the weight average gold jewelry would bring.Understanding Gold