Hi there I have friend who has quite a bit of 18k gold jewellery from her late grandmother. The gold kiosks offer so little and ebay does not generate much for jewellery either - what is the best way to try and sell this jewellery? Thanks
On here. You will easily get spot price for the gold content which is almost precisely doubly what companies such as 'gold buyers' will offer. They are nothing short of rip off merchants imho
If you have a lot, you can maybe send it down here and get it back in pure gold ... Just takes a little while. Need to pay some premium depending on what form you want it in of course....
If they are nice pieces it is often worth trying to sell them as jewellery rather than scrap, as you can get a decent premium. As you have highlighted though, the problem is in finding buyers... no answers from me there. Pretty much ayone on this site is unlikely to pay you much above spot, even if they are nice pieces.
Thanks for all the replies so far. there is apparently about 300g. I have been told its 18k. so by my calculations thats about 7 ounces all up roughly. Correct me if i have calculated wrong I think they will lose too much money to sell through a kiosk by the looks of the responses!!
You might also like to consider the below statement on the W Davis website: About the gold kiosks - I personally don't believe in the "free market" when it comes to exploiting lack of knowledge or lack of confidence. They should be regulated to pay a fair price. Also, what about the quality of the jewellery? Whoever bought the jewellery in the first place paid a big premium to the bullion content, and unless the jewellery is damaged it might be worth the same premium or more today. Depends on how astute the original buyer was I suppose. ---------------------------------------------------------- http://www.wdavis.com.au/ The New Gold Rush "With the gold prices near an all-time high, there's a new gold rush with more and more people selling their unwanted scrap gold and jewellery, and many gold dealers claim they offer the best deals for sellers, using impressive full page ads and slick advertising. Their websites may feature a string of testimonials, sometimes even a charity tie-in. But the actual price is missing." Our warning to consumers "The dealer should weigh your item and test your item in your plain view so that you can see what you are being paid for. Expect poor prices from gold dealers who don't let you see the step by step results of what they're doing and do not explain how they work out their prices. The majority of gold dealers don't reveal what they pay per ounce or gram for gold. In many cases, sellers could be receiving LESS than 50% of their gold's true market value." Seller Beware "We advise sellers to consider offers carefully. Many gold dealers use the lure of fast cash to tempt people into selling them their old rings, bracelets, necklaces, earrings and other jewellery, Sellers usually accept the price they just want their cheque or cash. But in effect, they are subsidising the expensive rents and press ads, and being under paid in the process." Fast cash temptation "We advise sellers to consider offers carefully. Many gold dealers use the lure of fast cash to tempt people into selling them their old rings, bracelets, necklaces, earrings and other jewellery, Sellers usually accept the price they just want their cheque or cash. But in effect, they are subsidising the expensive rents and press ads, and being under paid in the process." A Better Deal "With so many people seeking quick cash, the gold market is rife with opportunists and dodgy deals. You deserve transparency and honesty. Selling old gold and jewellery can be an emotional commitment, so it's only fair that people get the best treatment possible. We publishes our prices, and without the expensive overheads of being in all major shopping centres or full page ads, and they're often some of the highest prices in this country."
Good info here. I've picked up a few pieces metal detecting and thought about offloading, but wasn't too sure if there would be any interest in what I've found. Besides, selling an 18k diamond ring 'at spot' essentially gives the diamonds for free....
I have the same dillema. Gold ring with diamond on it i know nothing about. Most private buyers would only want the gold and the diamond thrown in for free. Gold buying ripoff places may give something for the stones but give a crappy price for the gold. Perhaps take out the diamonds and just sell the gold ring to a private buyer. Then approach ripoff merchants and try and get a few dollars for just the diamonds.
Most diamonds (unless 0.5ct or bigger) are next to worthless second hand - more time spent removing, sorting, regrading, matching etc than it would cost to buy them wholesale. Not to mention holding costs - no-one wants to build up a massive inventory of second hand stones they've put capital into acquiring while waiting for the perfect stone for a custom item to come along. You should not have to accept a cent below spot for scrap gold. W Davis pays spot.
w davis seems to be very reasonable. I have passed on all the information to my friend. I will let you know what she decides. thanks so much for all the replies!
I was very lucky to pick up a beautiful 9ct vintage Simmons watch fob chain for spot yesterday. It would have been criminal to let it go into the melt pot. Get your friend to post a few pics; I am sure it will go very quickly on this forum if she's happy with spot.
Cash Converters is a horrible place. I tried to sell a 2nd hand mobile phone to those guys about 15 years ago, and rather than accept their offer, I threw it in the rubbish rather than be "insulted". Never liked them since then. In central Brisbane, they have a sign up saying they pay $25 per gram of 24K gold. In my suburb, their outlet says $24. Yuk.
does w davis accept gold items sent by mail? last time i called they acted like i was crazy for suggesting it, but the previous time i spoke to them they apparently did accept items by post.
I'm in Sydney and want to off load about 50 grams of gold mostly 9k some 18 & 22. I was going to mail it down to W Davis until I read the above, if I don't mind though it shouldn't matter.
I'm sure it would be easy to find someone in Melbourne you could post to if they don't accept it direct, for say, 5% less than the advertised rate Cough SM cough
W Davis accept by post just have to include ID which all gold buyers accept same way. +1 for W Davis quick easy and top dollar. Don't send your stuff anywhere else
