Selling Gold and Diamonds from the Beach

[rockyredbaron]

Where is the most advantageous place to get the best price for your gold and diamonds...I need a new surf machine ...LOL


Rick

 

[Sanddigger]

n/t

 

[Bobbie]

try eBay or have them melted down. Jewelers are smiling crooks and give you 1/2 of wholesale value........which amounts to about 10% of retail.

 

[beachguy777]

Finn, I gotta ask you where in the world did you get your call name. Did you really have 55 cats or something. It's driving me nuts, unless it's a deep dark secret or something. Just playin with you a little here.

 

[Sanddigger]

n/t

 

[JCPinCt]

Don't send it to a refiner such as the Midwest Refiner, they get you on all kinds of little things and you will get way less for your gold. If you can put them on Ebay, you would be better off. And watch out for people who will make offers here, some are just buying scrap at low prices. A coin shop that has been in business for a long time may give you a fair price, but some will only pay scrap prices. I see Kitco prices aren't bad forscrap, but I have never sent them any and I don't know if they charge any hidden fees like most refiners. Good luck.

 

[houndawgg]

n/t

 

[Bottomfeeder]

n/t

 

[JCPinCt]

Yes, that was from a guy who worked there and was here drumming up business. I went there and got beat for over $200 less than I could have gotten from a coin shop here in CT.. They play games with the weights and payment date. Nothing you can do about it either once it is done. At least you can say no, before sale ends on Ebay, or if you offer it in person to some business. Once you ship it out, you have to take the payment that comes, you can't get it back.

 

[JCPinCt]

Maybe you sent them a couple rings or so, and on that you probably never realized the difference of what you could get somewhere else. But I sent them a couple hundred grams of gold. And it is easy to get hurt for hundreds when they play games. Most times it is not a good idea to ship to refiners as the can come up with all kinds of reasons to cut you back on price. I have been in the gold and silver scrap game for over 45 years and have seen many games played. These guys are just another 'we will pay you more than anyone' routine. You honestly would even have gotten more from Kitco. I would have too. Hey, it is your gold, I am just offering some advice. Good luck.

 

[houndawgg]

n/t

 

[DaveT.]

I have the same question. I found a .80 karat diamond platinum ring this summer. I took it to my jeweler and to a town jeweler. Both gave me the same basic information about my ring. I was told it would retail between $2500 and $3000. I took it to a coin/estate jeweler that has a good reputation in an upscale community. The owner offered me $250, then with some discussion, raised his offer to $400. I was told that unless the center stone is one karat or more, most people would not be interested in the ring. He said buyers today don't care about quality, they want size. Now I debating paying the $100+ fee to have it appraised and certified so I can sell it on ebay.

 

[Jim Pa]

Look for a silver,gold, and coin dealer in a good size town who sells and buys back.They should buy back at a set % of the daily market price.Probably 15% under daily market.Don't forget,they have to resell your rings.Common sense and research pay off.But never give them away like finn55cats did.

 

[JCPinCt]

You do have another option on large rings, and that is an auction house. Most will take about 20-25% of what it sells for, but if it is an auction house that has a good rep and has a good bidding clientel, then you will probably get in the $400-700 area. But then there is no guarantees, and it is a risk. But first, on a ring that is .80 or so, I would put an ad in the local newspaper, with a price a little less than half of appraisel (even verbal appraisel). About $850 would be fair, and if you have to give a bargain, then $700-750, would be a good selling price. Many people who got married years ago want to upgrade to a bigger size and don't care about going to a store and paying retail. Most honest dealers buy average grade diamonds at $4 per point (80 points x 4 =$320) with average quality stones, and a little extra for the setting. As you can see, I was in the coin and jewelry business for quite a while, and only dabble in it now. Beware of people making offers by private email, even on here, unless they do it in the open. If they try to cheat you, at least someone here will see it and say so. Hope this helps.