Rings – Getting Started & Next Steps

Tips for Buying Gold Jewelry Jewelry of all types, specifically gold jewelry, is one of the most common things to buy for oneself and as a gift. Sadly, in the big majority of jewelry purchases, people pay far too expensive a price. The typical jewelry sale is computed at “triple keystone” price, which the trade refers to as triple cost. In short, if a jeweler shows you a book where an item is listed at a price of $3,000, he has likely has shelled out $1,000 for it. He may offer you a 20-percent “discount,” bringing down the price to $2,400. Don’t think you’re taking advantage of his kindness – he will be pocketing $1400, a 140% profit on an item he bought for $1,000. It is important that you know the fundamentals 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. Fourteen-carat gold, which is stamped “585,” is 60 percent pure gold. Following the same logic, “375” or 9-carat gold is 37.5 percent pure gold. In England, people have high regard for 9-carat gold, but that is not the case in the US., where it is classified as costume jewelry and hence not a good investment. You can probably never resell it for any amount close to what you paid for it. Generally speaking, jewelry is sold according to its pure gold weight. To know your gold jewelry’s base value, you have to weigh it on a jeweler’s scale. No matter its weight, deductions must be made for the amount of alloy in the metal: as 18-carat gold, for instance, is 75 percent gold, you need to remove 25 percent from the value so you can come up with its gold weight. So, if the gold is has a current price of $1,000 per ounce, and you have an 18-carat piece with a weight of four ounces, the pure gold’s value would be $3,000, which is about what you may expect to receive if you decided to sell it.
Understanding Gold
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. Of course, the above doesn’t apply to pieces made by the likes of Bulgari or Cartier, where a three-ounce pure gold bracelet can be sold for up to $30,000, or 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.Rings – Getting Started & Next Steps

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