Selling gold

Mom2Dogs · ‎03-09-2010

I have sold gold in the past, nice pieces, no damage, just sold for scrap. They were things I did not wear.

Just wondering if anyone has had luck selling pieces outright instead of for scrap? I am not sure which way a person would get more for the item.

The jewelry store where I sold for scrap does not try to resell the jewelry, they send into another location where I assume it is melted.

For some reason I feel bad that they nice pieces are melted down and not resold.

Any thoughts?

rockygems123 · ‎06-04-2012

@Mom2Dogs

Some jewelry that may be destined for scrap can be saved and not melted.

As a jewelry dealer myself I have a few contacts that will show me what they're planning on scrapping. If it looks like a piece that will sell well on a retail level I'll buy it.

Trouble is now selling gold at retail is getting harder because the price of gold is so high. People are willing to pay only so much. The piece has to be marketable and in demand, usually a classic design and / or good designer name attached to it.

If you sell on a platform like eBay there'll be fees and you need to include that in your asking price, which would be above scrap.

jackthebear · ‎03-11-2010

I sold the gold I wasn't wearing and took the money

If you are not an experienced Ebay gold or jewlery seller avoid it

BalletBabe · ‎03-05-2011

@Mom2Dogs wrote:
I have sold gold in the past, nice pieces, no damage, just sold for scrap. They were things I did not wear.

Just wondering if anyone has had luck selling pieces outright instead of for scrap? I am not sure which way a person would get more for the item.

The jewelry store where I sold for scrap does not try to resell the jewelry, they send into another location where I assume it is melted.
For some reason I feel bad that they nice pieces are melted down and not resold.

Any thoughts?

@Mom2Dogs Sell your gold.com I have sold many pieces and they are very fair with what they pay you.

Mom2Dogs · ‎03-09-2010

Thanks for the replies...I am not experiened in selling so I guess I will sell and let the buyer do with as he pleases....which is most likely scrap.

kaydee50 · ‎02-07-2011

DH took his 2 old class rings--10K--to a local jeweler who buys gold. He got $600 for them--he was stunned.

SharkE · ‎08-19-2010

Old gold is heavier had more wgt to it then nowdays.

I paid 2,000 for a polished and satin 18kt. gold bangle in '25.

light wgt.

queendiva · ‎03-12-2010

Last week I sold a few small gold & gemstone rings for store credit to a reputable local jeweler who sells new and estate jewelry. I saw 2 estate rings that I liked, both gemstone & diamond rings in 14k. Thought maybe I could buy one. Went home and pulled out rings that I haven't worn in ages and would not miss. I was given over $900.00 store credit!

Bought both of the rings that I had my eye on and still have over $160.00 store credit remaining for future use because I asked for a discount since I was buying 2 rings,

At another jeweler I have been making monthly layaway payments on another estate ring. This jeweler gives me 60% of the consignment price. A small sterling ring with a tiny aqua and diamonds that I bought last year (?) for under $100.00 is consigned @ $165.00.

14k/ princess cut diamond 1" hoops are consigned for almost $2K!

That should help to pay off the layaway, and then some. They have a potential buyer for the earrings.

I would suggest not selling gold or silver unless you need to right now. Prices are high and going higher daily. I believe silver closed at $85.00/ounce today and gold at over $4600.00.

Biftu · ‎02-05-2011

I've sold many gold and silver pieces to a local jewelry store. She weighs the pieces in front of you then gives you a price. I find her to always be fair and you make the decision if you want to go ahead with the sale. I've seen pieces I sold in her showcase though I'm sure some pieces went to scrap. I'm lucky to deal with this shop rather than an unknown company.