Tips for Buying Gold Jewelry Jewelry of all kinds, particularly gold, is among the most popular items to buy as a gift and for oneself. Unfortunately, in the huge majority of jewelry purchases, people pay an extremely high price. The ordinary jewelry sale is calculated at “triple keystone” price, which is called triple cost by the trade. 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 may offer you a 20-percent “discount,” bringing down the price 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. You need to know the essentials 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. In the same way, “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. 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. 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 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.
Rings – Getting Started & Next Steps
On the other hand, if you purchase the same 18-carat jewelry on Forty-Seventh Street, you should find a shop that sells it for around $4,000, approximately 33% more than its weight. Triple keystone is the standard outside the jewelry district, and you should be able to buy the same pieces for about $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.Rings – Getting Started & Next Steps