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Valyooo (99.63)

what to do woith my jewelry?

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October 16, 2010 – Comments (22)

So I know jewelry prices tend to be diconnected from metal prices for quite some time and cash for gold rips you off but I have:

Gold cross and chain (was purchased for me for I think 300 back in 2003 when I was catholic before I turned athiest)

200 dollar gold ring with a cats eye sapphire in the middle (200 in 2007, was from my graduation)

450 dollar diamond earrings (mens earrings)

I haven't worn jewelry in years and I'm a little tight on spending money, is there any way I can get any money for these without getting gyped?

22 Comments – Post Your Own

#1) On October 16, 2010 at 1:40 PM, SockMarket (63.07) wrote:

damn, youve got some bling.

It sounds like pretty common stuff so I would say that Ebay/craigslist is your best bet.

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#2) On October 16, 2010 at 1:47 PM, SockMarket (63.07) wrote:

oh. if you can get a free value assessment that would probably be a good idea.Obviously if he has a vested interest, take it with a massive grain of salt

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#3) On October 16, 2010 at 1:59 PM, HarryCarysGhost (99.76) wrote:

Dude, wolud'nt it be earring singular (back in my day, the fasion was for men to wear one earring on their left ear:)

I agree woith Dan, E-bay is probably your best bet.

This is coming from someone who has never worn a piece of jewelry in his whole life. So, grain of salt.

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#4) On October 16, 2010 at 2:18 PM, MoneyWorksforMe (< 20) wrote:

Understand that any of these "Cash for Gold" places give you the value of your jewelry after scrap. That is, I believe they just want the gold. Therefore the price you get should be based solely on the quantity of gold within each piece. The workmanship is considered extraneous, and does not contribute to the price they will give you for it.

First you want to find out how many karat's each piece is. There is 12, 14, 18 and 24kt. 12 kt is 50% gold, 14, 60% 18, 75% and 24 100%. 

If each piece is 14kt, you can then determine how much gold you have in terms of oz. by weighing it. Let's say the cumulative weight of your jewelry is 1.5 oz.. Just multiply 1.5 * .60 and you have .9 oz.  

.9 oz. * $1370/oz. = $1233  worth of gold. 

I am not sure how much it costs for a company to scrap it, but I imagine it is a relatively small cost.

From this basis I would determine whether or not you are getting a decent deal.

I think any of your jewelry containing diamonds and other precious jewels should be sold through other means such as ebay or a pawn shop. 

I am not experienced in this business but have thought this through thoroughly myself, as I may one day wish to sell some of my gold jewelry down the road at much higher prices.

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#5) On October 16, 2010 at 3:26 PM, Valyooo (99.63) wrote:

@ghost: hey don't make fun of my spelling errors, I do all of this blogging from my blackberry which has water damage and therefore screws up my grammar! And also, my generation + brooklyn the guys wear two earrings. Ballin ass earrings at that

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#6) On October 16, 2010 at 3:31 PM, Valyooo (99.63) wrote:

@ moneyworksforme. Thanks! I will do that math soon and look up their website.

And thanks to you too dan!

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#7) On October 16, 2010 at 4:22 PM, Valyooo (99.63) wrote:

Also I gotta check the spread they make. I'm sure they must pay you a decent amount less than its worth

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#8) On October 16, 2010 at 4:30 PM, HarryCarysGhost (99.76) wrote:

@Valyooo, sorry you took offense to my light-hearted comment. I for one am in no position to mock anyones grammar, so that was not my intent.

I know that you've read some of my blogs, and surely realize that I try to bring humour into everything I write.

I always say if your not having fun while investing then your doing it wrong.

Cheers.

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#9) On October 16, 2010 at 6:12 PM, Valyooo (99.63) wrote:

Haha, I was just kidding around, I didn't actually take offense, I enjoy your blogs and your comments in my blogs too.

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#10) On October 16, 2010 at 6:13 PM, Valyooo (99.63) wrote:

By the way, I forget, what was your old name before you changed it to HarryCarysGhost?

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#11) On October 16, 2010 at 6:30 PM, HarryCarysGhost (99.76) wrote:

Pretty sure it was Josey Wales.

The Outlaw Josey Wales

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#12) On October 16, 2010 at 6:39 PM, HarryCarysGhost (99.76) wrote:

Arrrgh! the Wales link didn't work.

It was msft-ge-v.

I pronouced it mystguv.

I posed a question to you here-

Why would you short SLW?

Watch as that link does'nt work either.

Have a great weekend.

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#13) On October 16, 2010 at 6:55 PM, TSIF (99.96) wrote:

You won't get anything close to retail for your stash. If someone took a fancy to something, such as the ring then you might do better on ebay.  It's funny on the salvage/pawn side of the house, offers will be "all over the place".  One salvage store near me says 10% extra if you mention you heard their add on the radio...I wondered if you took in your stuff, played dumb, got their offer and then demanded your 10% if they would balk cause you didn't say it upfront....

Maybe you can negotiate your way into a new blackberry with a keyboard you haven't drown yet!!!  Blame it on the blackberry!

You might want to hold onto the cross....you might decide some day not to be an athiest.  I would guess right now that you might consider that highly unlikely, but life is long.

Do "woith" your jewelry and Brooklyn....seems like you're spelling is fine for your brogue!  :)

 Good luck.

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#14) On October 16, 2010 at 6:57 PM, Valyooo (99.63) wrote:

I would never short slw, ever

You gotta step your link game up

You have a good one too

An aside, I wonder if anybody realizes my name is supposed to be pronunced "Value"

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#15) On October 16, 2010 at 7:07 PM, Valyooo (99.63) wrote:

Oh my blackberry that I haven't drown yet? REALLY GREAT SENTENCE! YOU'RE A REALLY GREAT SENTENCE MAKER! :)

Anyway, why would they tell you to mention you heard it on the radio...defeats the purpose.

And even if I wasn't athiest anymore, I wouldn't wear the cross...not too big on jewelry.

Although one time I did get drunk and my girlfriend bit me (passionately) so I wore it all night long becausei told her she was a vampire and it would burn her skin if she bit me again, so I woke up because my roomate barged in my room and my roomate was like: "why the hell are you naked and wearing a cross?". Good times

And I'm gonna wait for the iphone to come to verizon before I get a new phone. So screw all of you!!! ;)

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#16) On October 16, 2010 at 7:18 PM, Valyooo (99.63) wrote:

P.s.nice usage of 'brogue'.

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#17) On October 16, 2010 at 7:28 PM, HarryCarysGhost (99.76) wrote:

Why would you short SLW?

Tryin' again.

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#18) On October 16, 2010 at 7:36 PM, HarryCarysGhost (99.76) wrote:

Oh, and I knew it was pronouced value. Were'nt you WarrenBuffettsHouseboy before that ;)

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#19) On October 16, 2010 at 11:00 PM, Valyooo (99.63) wrote:

Shuddit!

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#20) On October 17, 2010 at 1:42 AM, TMFUltraLong (99.96) wrote:

Well now here's an area where I could be of some assistance.

First of all you need to get the conception out of your head that your jewelry is worth anywhere near what you paid for it. It could be in immaculate condition and never worn or beat to hell - it wouldn't matter. Buyers have a real problem buying other people's sentiment. Even if you bought everything for yourself, buyers want a deal because they're just going to assume you're getting rid of it because an "ex" bought it for you.

So onto valuation.... Buyers in 2007 had been looking to buy aftermarket products for 36-55 cents on the dollar from original valuation. Now, with the luxury market in the tubes, you're going to get about 18-36 cents per dollar spent depending on age and condition.

For pricing, without a genuine weight in grams or pennyweights I can't give you a great idea. Ebay is going to give you more views but will absolutely rape you in fees. You'll wind up with about 14-17% of intrinsic value would be my guess. Craigslist will take longer to sell but you'll get a better price and I would recommend that method. Pawn shops have a tendency to offer 7%-12% of the current per ounce price per gram while cash for gold mail in offers and mall kiosks will give you 12-18% of gold's price per ounce basis.

If you want cash for your gold, you're going to get raped. If you want to trade your gold for something you WILL wear in a jewelry store you'll typically get 24-32% of value for your scrap since the store will be making a profit on both your gold and the jewelry you purchase.

Advice then is.... weigh your gold, get back to me on this blog and I can pretty much tell you what to expect. Now go young grasshopper!

UltraLong

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#21) On October 17, 2010 at 10:15 AM, Valyooo (99.63) wrote:

I never had that conception in my head in the first place...I was giving the prices because I am sure a $50,000 chain is probably going to get me more than a $100 chain.

My jewelry is all in Philly and I am in Brooklyn for the weekend. Please give me time sir! I'm just a lad!

I also don't give a scale that measures in grams, I guess I can just ask a drug dealer for one.

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#22) On October 17, 2010 at 12:55 PM, TSIF (99.96) wrote:

Maybe you need to keep the cross in case the girlfriend comes back or sends some friends!   Its sounds like a multi-functional piece of bling!  The drug dealers might appreciate it also when you go to borrow thier scale!  :)

A few games of three card Monte, wtih the bling as the bet, while you're borrowing the scale and your bling problems will be over!   Good luck....  Hope you get good valyooo for it!

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