Tips for Buying Gold Jewelry

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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 large majority of jewelry purchases, people pay far too much a price. The typical jewelry sale is computed at “triple keystone” price, which the trade refers to as triple cost. Therefore, if a jeweler shows you a book in which an item is listed at $3,000, he has probably paid $1,000 to get it. He might may give you a “discount” of a 20 percent, reducing the price down to $2,400. Don’t feel guilty – he will be pocketing a 140-percent profit, or $1,400, on something for which he paid only $1,000. Learn more about engagement rings springfield va, go here.

You have to know the basics of gold jewelry. Jewelry marked “750” contains 75 percent gold and 25 percent alloy, and that means it is 75 percent pure gold, equivalent to the purity of 18-carat gold. Gold stamped “585” is 14-carat and 60 percent pure gold. Using the same logic, “375” or 9-carat gold is 37.5 percent pure gold. People in England think highly of 9-carat gold, but in the U.S.it is considered but costume jewelry and therefore not a good investment. You may never be able to resell it for any amount like what you spent to get it. Find out for further details on how to buy gold springfield va right here.

In general, jewelry is sold for the pure gold weight. Knowing the base value of your gold jewelry requires weighing 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. So, if the gold is currently priced at $1,000 per ounce, and you have a four-ounce 18-carat piece, the pure gold’s value in the piece is $3,000, which is what you could expect to get if you sold it.

Buying the same 18-carat piece on Forty-Seventh Street, on the other hand, you will likely find a store that would sell it for about $4,000 or some 33% over its weight. Outside of the jewelry district, triple keystone is the standard, so expect the same pieces to be sold for approximately $9,000. Certainly, the above doesn’t hold true for pieces by Bulgari, Cartier and other high-profile designers, where a pure gold bracelet weighing three ounces can be sold for as much as $30,000 (ten times its weight).

Then again, famous jewelers design usually design exquisite pieces, so you’re paying a substantial premium for the design as well as the brand. But if you were to sell such designer pieces, even if you will surely get some premium over weight, don’t expect it to be significantly more than the weight an average gold piece would bring. Take a look at this link https://en.wikipedia.org/wiki/Gold_as_an_investment for more information.

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