So Aunt Petunia has simply kicked the bucket, and she or he left you a small treasure-trove of
shiny objects that you just suppose are gold, diamonds, and priceless heirlooms. The query
is, how will you inform what’s worthwhile and what is not well worth the hassle? Nicely right here we go
with a primer on gold, silver, platinum, and diamonds, the best way to establish them, and what
you will get for them.
I have been working within the pawn broking trade for a bit now, and as a part of my on a regular basis
job I’ve to judge and value jewellery. With that in thoughts, I will be supplying you with an concept of
what you may anticipate from pawn retailers, in addition to affordable fees when promoting
(You may additionally find out how a lot you will have gotten ripped off if you purchased your
girlfriend that “gold” necklace final Christmas.)
Valuable Metals: What they’re value to the world
The mainstay of the jewellery trade is valuable metals: gold, silver, and platinum being
the preferred. All have their very own advantages and all have their respective drawbacks.
Earlier than we begin, it’s best to know that many web sites, sellers, and patrons value metals
by the Troy Ounce, and I will be referring to worth by the gram, since most jewellery is not
going to weigh quite a lot of grams. For ease of reference: 1 Troy Ounce = 31.109
Silver is a good looking steel, sturdy for settings and full items alike, and is comparatively
low-cost in comparison with the opposite metals. A fast approach of figuring out silver is to look alongside the
inside a hoop, or alongside the clasp/finish of a necklace or bracelet. What you are in search of
is somewhat quantity like “.925” or “.999.” That is the proportion of silver versus different
metals which might be in your merchandise. Sterling silver, some of the frequent sorts, is made up
of 92.5% silver and seven.5% copper.
Present costs for silver are at about $zero.18 per gram. I’d anticipate to promote a weighty
silver chain necklace (about 30 grams) for about $10 in the event you’re being honest. Since we all know
that shops aren’t honest, you may normally get away with promoting them for about 2.5 to three occasions
that quantity. As a pawn dealer I are likely to keep away from shopping for silver in any respect, primarily as a result of I can not
promote it as readily, and likewise as a result of I can not give the shopper sufficient cash to make it
value their whereas.
Ah sure, gold. Conventional or white, gold is the commonest and well-liked of the valuable
metals for many jewellery. Gold is weighed and valued by a system of karats, with 24
karats being pure gold, and is abbreviated after the worth quantity as “Ok.” Most individuals
know you could purchase jewellery in 10Ok, 14Ok, 18Ok, and generally the total 24Ok (although
that is uncommon).
Gold is a really smooth steel, so different metals are added into any jewellery of lower than 24Ok,
and typical alloys embrace zinc, silver, and copper. Whenever you’re attempting to establish how
a lot gold you’ve got received in a bit, you are going to comply with the identical pointers as when
checking silver, solely this time you are in search of a 10Ok, 14Ok, or comparable on the merchandise. In the event you
see sure letters after this worth, similar to EP, GEP, or P, it signifies that the merchandise is gold
plated and never strong.
At present gold is at a excessive and valued at about $24 per gram, with predictions of rising
once more sooner or later. The worth assumes you’ve gotten a 24Ok piece although, so somewhat math is
required to seek out the worth of your ring/necklace/and so on. To seek out the market worth of your merchandise,
use the next equation:
Market Worth = (karats / 24) x ($24) x (weight in grams)
On this case, a 10Ok gold ring weighing three.zero grams could be value: (10/24) x ($24) x (three.zero)
= $29.95. So for that ring you would be market worth of about thirty bucks.
Platinum is an extremely sturdy steel, very exhausting to work, however excellent for jewellery that is
going to be put to the take a look at. It is typically used because the setting in gold and silver jewellery to carry
diamonds and different useful stones. The worth of platinum fluctuates typically for a couple of
causes: it is exhausting to work, exhausting to seek out, and Russia.
Wait. Russia? Yep, the great outdated Russians. For the reason that largest producer of platinum in
the world is the Russian Federation, even the slightest rumors about fluctuating costs
over there’ll ship our costs into spirals up or down over right here. And nobody can appear
to get them to allow us to in on their market info, so we’re caught in half a guessing
You may establish this valuable steel by once more trying on the within of your ring, or close to
the clasps of your necklace/bracelets. What we’re in search of this time is a bit more
difficult. Since Platinum may be made up of some totally different metals from the
platinum group, these items are going to be marked with a quantity, adopted by an
abbreviation for platinum similar to Pt or Plat, then both adopted by the abbreviation for
one other group steel, or a quantity and the abbreviation. This could proceed as much as three or
4 occasions relying on what number of totally different platinum group metals are in your merchandise.
As an illustration, when you’ve got a hoop that’s 85% platinum and 15% iridium, then you may
see any of those markings:
850 Pt 150 Ir
85 Plat Irid
850 Plat Irid
Or actually any mixture of the above to point how a lot platinum is within the
ring/bracelet/no matter. Proper now, so long as the merchandise is a minimum of 56% platinum it’s
normally thought-about good, and generally as little as 50% is suitable.
The present costs for platinum are at about $46-47 per gram. Yeah, it is an entire lot of
money for this high quality steel. Count on to be charged out the butt to purchase something made
totally or partially of platinum, and anticipate to have the ability to cost fairly a bit in flip. A strong
girls’s ring (three grams avg.) may web you as much as $150 at price, three to Four occasions that at revenue
Diamonds are a woman’s finest buddy, and the arch enemy of a guys pockets. There are so
many alternative cuts and designs that this uncommon stone might are available in that it could take
one other article in itself to enter enough particulars for identification and correct pricing.
Listed here are a couple of fast pointers, although, on what you may anticipate to promote and purchase them
In a pawn store you are not going to get a lot for a diamond. I have a tendency to purchase them by a
level, the place one level is the same as .01 carats, and I solely give $1-2 per level. It is a
fairly frequent approach of shopping for them and you will normally get your merchandise priced based mostly on the
diamond high quality and the valuable steel content material. So when you’ve got a three.zero gram 14Ok ring with
a 1 carat diamond within the center, you are about (14/24) x ($24) x (three.zero) = $42,
plus $100 in factors for a complete of about $142. Count on a pawn store to promote that very same ring
for about Four-5 occasions that a lot.
The best method to establish a diamond is to make use of a diamond tester, which is sort of a small
electrode that you just push onto the diamond floor. It reads inexperienced for diamond or orange
for not, and it makes an annoying beep in the event you contact steel. I would not advocate getting
one although, except you are going to be doing a little frequent shopping for, promoting, and testing,
as a result of this little child can run you $90 or extra. For a one time batch of promoting, attempt
calling native pawn retailers and jewelers and ask if they’ll do some identification for
you. Often it is free, however you might need to shell out a couple of to get numerous stuff
Promoting Your Jewellery: A number of ideas
There are a couple of locations you will discover to promote your jewellery, and you are going to discover totally different
outcomes from each.
Jewelers and Gold Patrons
There are retailers on the market specializing in shopping for and recasting fold jewellery. Examine
your native phone book or the web for jewelers, gold sellers/patrons, or valuable
steel wholesalers. Additionally examine round your native jewellery retailers and pawn retailers to see
if they’ve contact info for somebody who buys gold and different metals at market
worth. My retailer, as an example, has somebody who buys all our scrap gold as soon as per
month, and we have managed over $3000 in a single journey!
The trick right here is to make contact and see what occurs. It will take some looking out, however
there’s normally somebody within the space keen to purchase your gold. Be ready to journey and
meet the potential purchaser someplace, and it would not damage to have measurements of
weight for all of your gadgets beforehand. Or take a small scale, whichever. You may should
work out the small print together with your purchaser.
On-line marketplaces similar to eBay normally maintain one of the best probabilities of promoting your items
at an honest value as a result of so many patrons have entry to your listings. The trick to
discovering a purchaser and promoting your items for an honest value on-line is in writing the
commercial. A number of ideas:
Embrace clear footage
use totally different angles to show the entire merchandise
Mark gadgets clearly if they’re in a collage
Be particular in your adverts, with as a lot concise element as doable
For valuable metals at all times embrace weight, shade, karats, and composition (platinum,
embrace sizes for rings and lengths for bracelets/necklaces
Personal promoting by way of labeled adverts in your native paper, Craig’s Checklist to your state, or
native publications can let you cost somewhat extra for the correct purchaser, however normally
these adverts price cash to put.
The most important situation you will run into utilizing this methodology is normally size of the advert, besides on
Craig’s Checklist. You may have to be very quick and to the purpose to avoid wasting house and cash, and
at all times assume your reader is simply too lazy to learn illustrious and inventive particulars in regards to the
merchandise. A superb advert for a hoop might learn:
LYG ring, 14Ok, one .5 carat dia in heart; measurement 5; $100 obo.
That 46 character advert may run you $zero.46 to $2, nevertheless it’s nicely value it for the $100 sale at
Do not overlook family and friends both if you’re promoting. There could also be a cousin or
outdated roommate on the market that would actually use a gold necklace, diamond ring, or silver
bracelet for the upcoming holidays, and shopping for from you’ll most likely be cheaper
than from a retailer (except you are that sort of buddy). As a rule, attempt to not value gouge
anybody you will should spend holidays with.
Now I work at a pawn store and much be it from me to inform you to not use them. They
present fast money for nearly any merchandise and so they’re comparatively straightforward to seek out. The factor
you might want to keep in mind nonetheless, is pawn retailers promote gadgets very low-cost, and in an effort to
try this they’ve to purchase them very low-cost as nicely. In the event you see a hoop precisely like yours
going for $100 within the case, anticipate to solely get $15-20 for it if you promote it.
In the event you’re okay with promoting that low-cost, which normally outcomes from getting the merchandise free of charge,
then go forward and use your native pawn brokers. A superb store will inform you up entrance in the event that they
cannot offer you as a lot as you need, and lots of will advocate you promote utilizing one among
the strategies above as a substitute. Unscrupulous brokers (and there are a couple of!), will lie and
inform you the merchandise is not value something, then flip round and promote it for lots greater than they
paid for it. A superb rule of thumb is that this: if the place is uncomfortable and the dealer
offers you the shudders, go elsewhere. Belief your intestine, it is a good decide of
The principle situation you are going to run into with costume jewellery is that this: it is faux. Very faux.
Faux, faux, faux, faux, faux. As an alternative of gold or silver you are going to have metal,
aluminum, nickel, tin, or every other low-cost coloured substitute. Diamonds will probably be cubic
zirconias and different valuable stones will probably be coloured glass. It may be inconceivable to
make an ideal revenue off costume jewellery except you are unethical and keen to lie, however I am
not about to inform you how to do this!
Promote the costume jewellery in units and ensure it is clear that is what you are promoting.
By no means market costume items as actual, because it can lead to offended prospects and a few
websites/papers will ban you from promoting in the event you get sufficient fraud complaints (normally
just one or two). A superb time to promote costume jewellery is round Halloween, and take a look at
placing collectively good costumes to promote as a set. Use that faux, however fairly, tiara to set off a
duchess or little woman’s princess costume. In case you have some stitching expertise this is usually a
nice method to make further money round September and October.
The principle level is that this: do not deceive promote your faux stuff. Make it value shopping for as a substitute!
I’ve gone over the best way to establish and promote the commonest valuable metals and
diamonds, and I hope you discovered one thing useful from studying about it. I am going to go away
you with a couple of ideas as you exit into the world somewhat extra sell-saavy.
First, valuable metals fluctuate and their values rise and fall typically. Take this into
account and at all times examine market costs earlier than promoting or shopping for.
Second, there are a lot of choices for eliminating your outdated jewellery, however not each methodology
works for each particular person. Experiment, speak to folks, and analysis your choices earlier than
leaping into a call.
I hope you loved this text and located it helpful. In case you have any questions or requests
for different articles, please be at liberty to ship them my approach!