maddykate Posted February 15, 2013 Share Posted February 15, 2013 Are they like pawnshops? I have an old ring that I would like to get some money for, but I don't know anything about how those places work. Any ideas? Quote Link to comment Share on other sites More sharing options...
Catwoman Posted February 15, 2013 Share Posted February 15, 2013 I know that a lot of them are rip-offs. You might be better off approaching a reputable jeweler in your area instead. Quote Link to comment Share on other sites More sharing options...
Guest inoubliable Posted February 15, 2013 Share Posted February 15, 2013 I know that a lot of them are rip-offs. You might be better off approaching a reputable jeweler in your area instead. :iagree: Quote Link to comment Share on other sites More sharing options...
blessed3x Posted February 15, 2013 Share Posted February 15, 2013 I know that a lot of them are rip-offs. You might be better off approaching a reputable jeweler in your area instead. :iagree: I took some older gold jewelry to a local well known jewelry shop in town and they bought it. I would try one in your area. Quote Link to comment Share on other sites More sharing options...
maddykate Posted February 15, 2013 Author Share Posted February 15, 2013 You all have given good advice. For some reason, it didn't even occur to me to try a real jeweler. I guess I thought they would not want to deal with me on used jewelry, but I will definetly talk to someone about what I have. Thanks so much! Quote Link to comment Share on other sites More sharing options...
maddykate Posted February 15, 2013 Author Share Posted February 15, 2013 :iagree: I took some older gold jewelry to a local well known jewelry shop in town and they bought it. I would try one in your area. Did you get a fair price for your items? How do you even find out what is a good price or not? Would i need to spend the money to have it appraised? I feel so uneducated on this matter that I am sure I will be taken advantage of. But I would like to get some money for these pieces. Quote Link to comment Share on other sites More sharing options...
Guest inoubliable Posted February 15, 2013 Share Posted February 15, 2013 Just be sure to get a few different quotes. I sold some old gold jewelry last year and visited three different jewelers. Three totally different quotes. Quote Link to comment Share on other sites More sharing options...
magnificent_baby Posted February 15, 2013 Share Posted February 15, 2013 Did you get a fair price for your items? How do you even find out what is a good price or not? Would i need to spend the money to have it appraised? I feel so uneducated on this matter that I am sure I will be taken advantage of. But I would like to get some money for these pieces. I went to a gold party and they paid whatever gold was going for that day, by the ounce. You could look that info up before you go in, or call and see if it's comparible. Quote Link to comment Share on other sites More sharing options...
Mama Geek Posted February 15, 2013 Share Posted February 15, 2013 Neither the we buy gold places or jewelry stores will give you the price that gold is on the open market. My mom works for a jewelry store and they give the highest prices in their town, but they don't advertise that they do that. Quote Link to comment Share on other sites More sharing options...
Joules Posted February 16, 2013 Share Posted February 16, 2013 This is an older article, but gives some information if others are looking to sell http://blogs.ajc.com/atlanta-bargain-hunter/2011/08/23/thinking-about-selling-your-gold-read-this-first/ Quote Link to comment Share on other sites More sharing options...
kbpaulie Posted February 17, 2013 Share Posted February 17, 2013 Everyone is currently buying GOLD. So the worth of your ring to these places is strictly in the weight. Doesn't matter if it has a diamond or an intricate gold design. Just what the gold weight is. SO they'd take out whatever gems and want to weigh it. You can go in, get an idea and tell them yes please or no thank you. They can write it down for you and you can take it eleswhere and ask them to match the price. So many people are trying to sell their old jewlery that it's difficult to find a jewlery store that will buy back jewlery, except for the weight. You can google to see what gold spot is, that's the going gold price. And you can ask the buyer at the store what % of spot they are buying at. Quote Link to comment Share on other sites More sharing options...
Ksol Posted February 17, 2013 Share Posted February 17, 2013 I took some to a jeweler and a coin/gold kind of place but ultimately ended up selling it on ebay, along with some silver coins. Even with the fees, that was by far the most profitable way for me at the time. (this was probably about 5 months ago) Quote Link to comment Share on other sites More sharing options...
stripe Posted February 17, 2013 Share Posted February 17, 2013 You all have given good advice. For some reason, it didn't even occur to me to try a real jeweler. I guess I thought they would not want to deal with me on used jewelry, but I will definetly talk to someone about what I have. Thanks so much! My husband asked someone from a store I'd bought jewelry from, what they do, and it was basically like that. I haven't bothered to go in, but it is a reputable store, catering to Indian people. Most Indian and Arab gold stores I've been to weigh the piece in front of the customer anyway before telling the price when someone wants to buy, and it's based on the price gold is selling at, so I think the process is similar when you want to sell. Also obviously 10 k is worth less than 14 k is worth less than 18, and so on. Quote Link to comment Share on other sites More sharing options...
creekland Posted February 17, 2013 Share Posted February 17, 2013 I took some to a jeweler and a coin/gold kind of place but ultimately ended up selling it on ebay, along with some silver coins. Even with the fees, that was by far the most profitable way for me at the time. (this was probably about 5 months ago) I have a gold "horse" necklace that someone gave me years ago and I never wore. I'd been toying with selling it just for the gold, but now I'm thinking e-bay could be better as someone might really want it as a necklace (it's literally new). It seems a crime to just have it sitting in my drawer - it's probably been there 10 years or more already. I don't even remember who gave it to me to be honest. If it was my grandmother (possible) I've had it for over 20 years as she died 20 years ago... but I digress. How did you figure out a starting price though? I have absolutely no idea what the thing is worth. I'd even have to check again to see what K it is. I know it's on there, I just forgot what it is. Does anyone know a rough estimate of K to ounce if I were to weigh it on our postal scale? Or with e-bay will starting it low be enough for it to just go up? I'd hate to actually sell it for $9.99 if no one were to see it or no buyers were looking that week. Quote Link to comment Share on other sites More sharing options...
Desert Rat Posted February 17, 2013 Share Posted February 17, 2013 I have a gold "horse" necklace that someone gave me years ago and I never wore. I'd been toying with selling it just for the gold, but now I'm thinking e-bay could be better as someone might really want it as a necklace (it's literally new). It seems a crime to just have it sitting in my drawer - it's probably been there 10 years or more already. I don't even remember who gave it to me to be honest. If it was my grandmother (possible) I've had it for over 20 years as she died 20 years ago... but I digress. How did you figure out a starting price though? I have absolutely no idea what the thing is worth. I'd even have to check again to see what K it is. I know it's on there, I just forgot what it is. Does anyone know a rough estimate of K to ounce if I were to weigh it on our postal scale? Or with e-bay will starting it low be enough for it to just go up? I'd hate to actually sell it for $9.99 if no one were to see it or no buyers were looking that week. I would take it to a jeweler and get an estimate. I never start anything on ebay lower than I'm willing to let it go for. I'd rather pay the higher insertion rates. Last year we traded some found gold (dh is very lucky and finds jewelry on the ground!) for a new tv at a pawn store. It was a straight trade. Worked for us. Quote Link to comment Share on other sites More sharing options...
creekland Posted February 17, 2013 Share Posted February 17, 2013 I would take it to a jeweler and get an estimate. I never start anything on ebay lower than I'm willing to let it go for. I'd rather pay the higher insertion rates. Last year we traded some found gold (dh is very lucky and finds jewelry on the ground!) for a new tv at a pawn store. It was a straight trade. Worked for us. Do jewelers tend to give free estimates even if you aren't planning on selling to them - or should I expect to pay a fee for an estimate? (I've never done anything like that before.) Quote Link to comment Share on other sites More sharing options...
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