Selling jewellery.

[Madders]

Jo and her sister have some items that they want to sell, wedding, engagement and eternity rings. I thought taking it to a local jeweller who knows me and may offer me the best price unless anyone knows how to maximise the price I'll get for these items. I'm open to suggestions. Cheers, Madders

[BBROWN1664]

Cash4gold and the like are the worst place to go to. A proper jeweller may give more than scrap value but depends on the likely hood they could sell it on as is.

[Madders]

Yeah I thought that to, apparently, and I have no idea about jewellery as it's never been my thing, they are quite nice rings, 22ct gold and the engagement and eternity rings are quite valuable so just looking for the best price really.

[purplebear7]

In my recent experience ..
 
The Gold Buyers and The Jewelers are not much interested about items being a 'Nice' ring or a 'Good Quality' chain, etc .. they buy things by weight .. price per gram  .
 
Items with gem stones, diamonds etc .. should fetch more of course .. but right now it's a buyers world. 
 
Don't be too surprised if they offer you peanuts or less for things that originally must have cost hundreds.   Of course it's a different story when they come to sell things 
 
Shop around.. it really is worth it! 
 
Stay Safe.  Polar Bear
 
 

[dweezel]

I am no expert, but I believe that the karat scale is a scale of purity with respect to gold. 22 karat i think is 22 parts gold and 2 parts another metal which is 91.67% gold. If you go here ->
www.kitco.com/market  (Check the London Fix price)


you can see that gold spot price is currently at £1048.91 (as of 13:12 today) per Oz of Gold.


If you take the weight of your jewellery and multiply it by 0.9167 then times that by 1048.91 it should give you a ball park figure of what the gold is worth on the current market.


E.G. If your jewellery weights 1oz


Then: 1x0.9167 = 0.9167


0.9167x1048.91 = £961.54


If someone offers you £200, you can say this weights 1oz and gold is trading at £1049/oz.... 


This is only an estimate as any stones etc are adding weight. But still, it should give you an idea of the region.


I would say that you should definitely check Kitco.com for the UK Spot Price the day that you go so that you know what Gold is trading for by the ounce. As Purple Bear says, shop around. If there is a coin shop near by don't discount it either.


Best o Luck.

[sadlonelygit]

http://www.hattongardenmetals.com/

30% more than my local jewellers

[BIG MAC]

Duncan Eves Jewellery. Jewellers. 11, Folly Market, College Street, Town Centre, Petersfield, GU31 4AD..Made our wedding rings from old gold jewellery the wife had including stuff her gran had owned...nice guy to deal with

[Grahamm]

See MoneySavingExpert.com for the best advice!

[goldfazer]

Jane says to try an antiques market (but I guess get a price from your jewellers first) in somewhere like Bath (nice day out and not far away!).

[DILLIGAFF]

How about good old fleabay with a reserve?

[zarniwoop]

Just emailed Sarah
She makes jewellery and knows about this stuff




Zarni

[zarniwoop]

Sarah Says





A reputable jeweller that you know and trust is probably your best option.
 
Weigh your items (the prices are in grams/kilograms for silver and ounces), try to identify what carrat metal they are if you can, bear in mind that stones will not be counted in the weight or value.  Then look here for an idea of their actual scrap value: http://www.cooksongold.com/metalprices/  Use the bottom one, the Non Trade Hallmarked Scrap Prices as your guideline.  Most companies will take a nominal handling/melting down charge off this.
 
I have an account with this company and can send your goods off for you.  But I would probably suggest that you do it through someone you know and trust and therefore your local jeweller.
 
Sarah






Zarni

[Madders]

Cheers all. I sold the rings to a local jeweller and will sell the sovereign to Hatton Garden Metals. I didn't have a clue and as always, you guys put me right.