8 hrs of work yielded over 350 grams of Gold Jeweley

[blai745]

Got a unbelivable score a couple weeks ago when I was able to check thru an old couples jewelry...Me being a gold buyer had a hunt of my life...Me and my girlfriend acid tested bags and bags and pounds of pounds of mostly cosutume jewelry but found gold...and lots of it.. more than 100 grams of 10k...and 200 grams of 14k.. some 9k and 18k.. and then a 22k button ( gold that jewelers make for jewerly) and 10 corona 22k austrian coin... took 2 sesions of 4 hrs each time we went to there house but boy was it worth it...and at $20 a gram for 14k they sure were happy....and with the $3 profit per gram I buy... Boy was I happy.

I wished I held to gold longer becuase I sold it when spot was at $1322 ..didnt want to gamble by waiting...Now its at $1350.
sorry i dont have any pics I already sold my gold to my guy who pays me 93% of hallmark..Cash.. I prefer it than a refiner becuase all gold is 1/2 carat less.. and refiners pay you 98% of true melt with a check.. so 14k would be 13.5k (56.25%) .. here is allitle comparison at Spot gold bieng $1347... And using 100 grams of 14k

Refiner- $1347 divided by 31.1= $43.31 then times .5625 = $24.36 times 98% = $23.87 X 100grams = $2387 By CHECK

My gold buyer- $1347 divided by 31.1 = $43.31 times .5833 = $25.25 times 93% = $23.48 X 100grams =$2348 CASH!!!

only a $39 difference of course it could be a $20-$50 difference depending on circumstances but ill live with that..
Ill try to post a pic of that coin btw.. but here is similar picture of what it wouldve looked liked.

 

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[kc10bull]

wow! That's alot of G O L D !

 

[sniffer]

now that's a chunk a chunk

 

[Syrena Hunter]

Some good hunting with some big cash!! There's more then one way to find gold!! Nice going

 

[gunntekk1]

i'm trying to figuer out why you didn't figure with penny weight since there is less pennyweight than grams. you would have made more money. i'm not greedy but money is money

 

[blai745]

i'm trying to figuer out why you didn't figure with penny weight since there is less pennyweight than grams. you would have made more money. i'm not greedy but money is money

its true money is money...But Also Good Buisness is Good Money...And if I paid $20 per pennyweight I would have Zero repeat customers plus I dont think the person I got the 350 grams from would even let me in his property.. I always tell my prices up front, plus like said $20 per pennwieght is basicly 50% melt

 

[bazinga]

So why didn't you sell some of this jewelry at its jewelry / collectible value instead of just melt value?

 

[blai745]

So why didn't you sell some of this jewelry at its jewelry / collectible value instead of just melt value?

Heres the thing...Jewelry is basicaly worth its melt value to us gold buyers , jewlers , general public etc... no one is going to buy my gold jewelry with plus added collectable value....not ebay,craigslist, jewerly store etc. ( if they had big diamonds then its a different story)

Unless I open my own jewelry store and slowly and hopefully sell piece by piece..and basicaly rip everyone off , like Kay or Jared does by selling gold jewelry at 300%-400% melt...But in order to do that I need Lots of cash to lease a building, signs, employees,taxes.. etc..etc..
and as of right now thats not really worth it..Plus in this economy Defintley not. Hopes this gives allite insight in the reality of the jewelry buisness.

 

[bazinga]

So why didn't you sell some of this jewelry at its jewelry / collectible value instead of just melt value?

Heres the thing...Jewelry is basicaly worth its melt value to us gold buyers , jewlers , general public etc... no one is going to buy my gold jewelry with plus added collectable value....not ebay,craigslist, jewerly store etc. ( if they had big diamonds then its a different story)

Unless I open my own jewelry store and slowly and hopefully sell piece by piece..and basicaly rip everyone off , like Kay or Jared does by selling gold jewelry at 300%-400% melt...But in order to do that I need Lots of cash to lease a building, signs, employees,taxes.. etc..etc..
and as of right now thats not really worth it..Plus in this economy Defintley not. Hopes this gives allite insight in the reality of the jewelry buisness.

I see gold sell all the time for well over melt value. Plus, you said you were going through old costume jewelry. How is selling something for over melt value ripping someone off? Are you really that dense? The reason gold jewelry sells above melt value is because people want it to look a certain way. If they just wanted lumps of gold, they would buy lumps of gold. But jewelry takes actual man hours to design and create.

Find a nice antique mall and rent a showcase for $50 a month and put the collectible pieces of jewelry in there. This isn't rocket science.

But sadly, you don't see the big picture here. You just see the jewelry in terms of metal value and not what they are worth to people who buy jewelry. And if you think this economy is slowing down buyers, think again. The only people it is slowing down are the people who were living beyond their means to begin with.

But I hope you enjoy selling those little pieces of jewelry for $35 in scrap when you might be able to get $135 for them to somebody that would actually wear them.

A smart gold buyer will be able to make more than scrap.

http://www.amazon.com/Whats-Your-Pr...6203/ref=sr_1_2?ie=UTF8&qid=1290028242&sr=8-2

Buy a copy of that book and learn what others before you have done.

 

[blai745]

ok fine..if you think you can do better, then please be my guess...Go ahead and rent a antique mall showcase and pick out lets say ten or twenty pieces of gold jewelry that you already know the melt value of. Then see if you can sell it for 200% or more melt.. you can even do it for free on craigslist.. and for faster results try ebay..see if you can pull off 200% melt or even 120% melt. And definitly let me know if you sold anything in that antique showcase...even if it took you 4 months just to sell 3 pieces.

 

[bazinga]

ok fine..if you think you can do better, then please be my guess...Go ahead and rent a antique mall showcase and pick out lets say ten or twenty pieces of gold jewelry that you already know the melt value of. Then see if you can sell it for 200% or more melt.. you can even do it for free on craigslist.. and for faster results try ebay..see if you can pull off 200% melt or even 120% melt. And definitly let me know if you sold anything in that antique showcase...even if it took you 4 months just to sell 3 pieces.

I just now saw your post.

For starters, I wouldn't rent a showcase for $55/month (give or take $20 either way) to put in 10-20 pieces of jewelry. You are already thinking small time, which is why you are stuck where you are. I would do it if I had 200+ pcs of jewelry and some other odds and ends to display, though. I frequent a number of antique malls and some of these showcase jewelry dealers have been renting the same showcase for 5+ years. They aren't doing it as a charity to the antique mall owner. They are doing it because it is a viable way to make money.

Honestly, I would do it if I had more time. But I already run a full time business. But during the slow times I do go out and rummage and pick up the odd piece of jewelry or two. I have lots of misc pieces of gold jewelry that only has in the range of $20 melt value that I am confident I could find buyers in the $50-100 range. When I get a larger collection and more time, I will do just what I preached to you to do.

 

[Au_Dreamers]

Wow bazinga you sure are derogatory in your reply. People might take your help a little easier if you weren’t so demeaning while you are attempting to help them.

No, not everybody slowing down are the people who were living beyond their means to begin with. It’s not rocket science to see the big picture there.

I’ve seen first hand the lives that have been devastated by this economy to not much fault of their own.

Maybe you know the OP personally and his situation but why is he stuck?
If you know for a fact that he is then maybe some constructive criticism would help him more. Hey the guy is out there doing something for himself so that’s a big attaboy in my book.

Maybe he doesn’t want to put 80+ hours a month into a retail enterprise.

Some simple math is he would have to sell $600+ more a month just to break even for his time and expenses. That’s if he only figures his time worth $8/hr.

He will then also lose 80+ hours a month in time for obtaining gold.
Also maybe he wants/needs the quick return for the time being but might later look at your idea but again less vinegar more honey.

I looked at this thread because I’m looking to do something just like this. I can honestly tell you that I don’t want to put in 80+ hours a month for a retail location.

I do like the idea you put out just not the delivery so much. Maybe it just comes across that way on the net.

Nice score OP. How did you get the line on the couple that was selling?
If you don’t mind telling.

Also glad to see other gold buyers that aren’t ripping off sellers.

 

[blai745]

Wow bazinga you sure are derogatory in your reply. People might take your help a little easier if you weren’t so demeaning while you are attempting to help them.

No, not everybody slowing down are the people who were living beyond their means to begin with. It’s not rocket science to see the big picture there.

I’ve seen first hand the lives that have been devastated by this economy to not much fault of their own.

Maybe you know the OP personally and his situation but why is he stuck?
If you know for a fact that he is then maybe some constructive criticism would help him more. Hey the guy is out there doing something for himself so that’s a big attaboy in my book.

Maybe he doesn’t want to put 80+ hours a month into a retail enterprise.

Some simple math is he would have to sell $600+ more a month just to break even for his time and expenses. That’s if he only figures his time worth $8/hr.

He will then also lose 80+ hours a month in time for obtaining gold.
Also maybe he wants/needs the quick return for the time being but might later look at your idea but again less vinegar more honey.

I looked at this thread because I’m looking to do something just like this. I can honestly tell you that I don’t want to put in 80+ hours a month for a retail location.

I do like the idea you put out just not the delivery so much. Maybe it just comes across that way on the net.

Nice score OP. How did you get the line on the couple that was selling?
If you don’t mind telling.

Also glad to see other gold buyers that aren’t ripping off sellers.

thanks for the input.. I agree with you, what some guys dont understand is I buy in large volumes...for instance I got 600 grams of gold jewelry in the past 2 weeks.. I did keep a couple of good rings but for the most part the rest is just scrap gold.. and I am in No way "stuck" like the other guy said. Ive been doing this right after I got out of the military and ive been making about $1000 a week... almost 3x more what the usmc paid me.

 

[blai745]

Honestly, I would do it if I had more time. But I already run a full time business. But during the slow times I do go out and rummage and pick up the odd piece of jewelry or two. I have lots of misc pieces of gold jewelry that only has in the range of $20 melt value that I am confident I could find buyers in the $50-100 range. When I get a larger collection and more time, I will do just what I preached to you to do.

and while your getting a larger collection and more time.. and waiting to sell your jewelry for 250% melt at your antique showcase... Ill be making another $1000 a week that passes by.

 

[Au_Dreamers]

Hey thanks for serving, salute!

This is what has got me looking into this business.

I'll have to grab a cross post of mine ...

"I was skeptical the first time I saw some gold buyer on the tube (TV).
During Thanksgiving the subject had come up with some family member talking about selling some scrap jewelry. I told them that I thought they would get pretty abused on the payment amount.

So after I got home over the next day or so I did some research. WOW some of these places pay as low as 50% gold value!

So when we all got together for a birthday party not too long after turkey day I had some details and displays for them.

Unless you’re a hobbyist or pro like those here and elsewhere most people do not even know what an ounce of silver or gold looks like. Having grown up a coin collector and then becoming a treasure finder I’ve held these precious metals in various amounts so I had a good idea of how little gold (at these prices) it would take to make a couple hundred bucks.

Everybody was surprised at how little an ounce, ½, ¼, 1/10 of an ounce of gold is and high much these amounts are worth. I think most people would be.

So I’m thinking of becoming a broker to a refinery or even a refinery myself.
Many people would be giving up somewhere around 8%-20% if they “knew how” to buy or sell precious metals so I was thinking of just charging a simple flat 10% fee."

If here is not a good place and you don't mind a pm what are you doing to get customers?
Standard stuff, CL, papers, word of mouth?

 

[blai745]

I basically started by using CL to post ads in the "wanted" And told people I pay "this amount___" for there gold....of course I made like 2 bucks a gram I buy.. But I always listed my price and was always honest... So I made like 300 bucks a week.. and hey I was kinda satified...But as months went on and I met some really great repeat customers, That they started buying from other people and then coming straight to me... And its basically becuase I went across city to city to meet people and buy there gold and was able to find some really great repeat customers and basically it planted some seeds that blossomed... And thats..that I guess.. I also told people I gave them a rereferal bonus if they refered friends and family to me..

 

[Au_Dreamers]

haha awesome!
Word of mouth is the best thing you can get!

Yeah I want to show the people the value because many don't understand the math although I have seen some calculators on the net now for scrap jewelry. Many wouldn't know if $10 a gram is good or not.

So have you ticked off any local businesses?

I'm wondering how long I can keep this low key. Some of those sharks offer 50%-60% and get it all day long! You know they'll start checking into things if they hear about such a high pay out player. Especially in a smaller locale.

There's a local place here that advertises for "gold parties". They pay the host 10% so one can imagine what they're getting.

 

[blai745]

haha awesome!
Word of mouth is the best thing you can get!

Yeah I want to show the people the value because many don't understand the math although I have seen some calculators on the net now for scrap jewelry. Many wouldn't know if $10 a gram is good or not.

So have you ticked off any local businesses?

I'm wondering how long I can keep this low key. Some of those sharks offer 50%-60% and get it all day long! You know they'll start checking into things if they hear about such a high pay out player. Especially in a smaller locale.

There's a local place here that advertises for "gold parties". They pay the host 10% so one can imagine what they're getting.

havent got any trouble from local buisness but like I told you with CL..sometimes the other gold buyers will try to put you on a wild goose chase by pretending to be customers... and always be in a public location like starbucks..Mcdonalds etc.. and along the way you will meet some strange characters and some really good ones.

 

[bazinga]

Maybe he doesn’t want to put 80+ hours a month into a retail enterprise.

Some simple math is he would have to sell $600+ more a month just to break even for his time and expenses. That’s if he only figures his time worth $8/hr.

80 hours? I'm confused here. Let's say he has to drive an hour to a decent antique mall. He spends 10min there putting his inventory into his case. He then spends another hour driving home. Say he does this twice a month. That's about 5 hours. Say he spends 5 hours of his time each month pricing his inventory. He is now at 10 hours. 10 hours to make $500 extra each month. Not bad at all if you ask me.

If you think it takes 80 hours, then you might be missing the big picture here as well.

 

[bazinga]

and while your getting a larger collection and more time.. and waiting to sell your jewelry for 250% melt at your antique showcase... Ill be making another $1000 a week that passes by.

$1000 a week... hmm... I guess I could take a pay cut.