Buying any gold at scrap?

[Spartcom5]

Hey guys just a quick question for you all... When you come across a jewelry item and can buy it for $10 over scrap do you? I found a bracelet at a pawn store, its a really cool 4.5g figaro link 14k. and the lady only wanted $25 over scrap, great condition... I can probably get her to come down a little... Would you guys buy it? I would wear it for sure but am curious what you guys think? Buy any gold items if they're in a certain range over spot? When does a gold bracelet have a lot more value over spot other than it having a brand name like tiffany? It's really confusing to me lol

Also quick question, I want some men's jewelry styles for myself from like the early 1900s or so... Were men back then wearing any jewelry like bracelets or necklaces other than rings watches etc?

 

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[ARC]

If ya like it... buy it.

Just over scrap is the cheapest you are gonna get it from a pawn shop anyway.
None will sell "below" scrap for this would not make sense.

Like I said... if you are gonna wear it... it is a good deal.

This item is worth TODAY... NOT tomorrow... in scrap with a 5% spread... $104.02

 

[jerseyben]

Hey guys just a quick question for you all... When you come across a jewelry item and can buy it for $10 over scrap do you? I found a bracelet at a pawn store, its a really cool 4.5g figaro link 14k. and the lady only wanted $25 over scrap, great condition... I can probably get her to come down a little... Would you guys buy it? I would wear it for sure but am curious what you guys think? Buy any gold items if they're in a certain range over spot? When does a gold bracelet have a lot more value over spot other than it having a brand name like tiffany? It's really confusing to me lol

Also quick question, I want some men's jewelry styles for myself from like the early 1900s or so... Were men back then wearing any jewelry like bracelets or necklaces other than rings watches etc?

I am not trying to be rude but I am not going to sugar coat my reply...

How are we supposed to answer this? Not having seen the bracelet in question and not knowing what your motive is for asking this question, this purchase is a personal decision. It sounds like you like it and plan on buying it to wear? If so, then $25 over scrap isn't really a good or bad deal. It is much cheaper than retail but I bet you could find an even better deal if you looked hard enough. I buy scrap PM's at or SLIGHTLY above scrap (like 1-2%) all the time.

 

[Spartcom5]

I am not trying to be rude but I am not going to sugar coat my reply...

How are we supposed to answer this? Not having seen the bracelet in question and not knowing what your motive is for asking this question, this purchase is a personal decision. It sounds like you like it and plan on buying it to wear? If so, then $25 over scrap isn't really a good or bad deal. It is much cheaper than retail but I bet you could find an even better deal if you looked hard enough. I buy scrap PM's at or SLIGHTLY above scrap (like 1-2%) all the time.

Haha it's all good I guess the question about the bracelet is pretty much a personal decision, the main question I was getting at was do you guys buy gold at melt value anytime you can? Especially since most of the time jewelry is way overpriced...

 

[trdhrdr007]

I don't buy anything unless I'm 100% sure I can resell for the minimum profit I'm willing to accept. That means I almost never pay scrap much less more than.

 

[Beachkid23]

Figaro links are pretty popular. auctioning them starting at $.99 they usually do pretty well. Is a 10+ gram or like a 2-3 gram one? I think the bigger the better.

Personally I wouldn't buy it unless I was going to resell it. But I would say $25 over spot and it something you like is a good deal

 

[Nitric]

Haha it's all good I guess the question about the bracelet is pretty much a personal decision, the main question I was getting at was do you guys buy gold at melt value anytime you can? Especially since most of the time jewelry is way overpriced...

This isn't an easy question, that depends on a lot of different things..

For example in resale.......Common stuff is bought below melt, or what you would get if you turned it in, whatever that number is. Then put it out for sale for a few months at double or whatever you decide depending on the piece. After a few months of not selling and dropping the price, it goes to scrap. You made profit or broke even after costs. Now that's talking about a lot of stuff in cases out for sale.

Do you have a potential buyer in mind for the piece? Do you like it, and want it for your self? etc....Are questions too.

It's a numbers game, and everyone has their "numbers". So, it really is a hard question for someone to answer for you.

Melt Value can be deceiving too! Whose melt value? This number changes depending on the guy closest in the chain to the refiner,quantity being turned in, or the refiner,overhead, trying to stay competitive, market, etc.....

To answer your question? NO, Me personally? I want to buy it below what I can get for it while staying safe if there is a market drop before it's sold. Unless, it's something I have a buyer for, or a piece that is special. But I'm not attached to gold, I don't wear it,I don't hoard it, I only keep a few pieces for myself.

If you like it? Buy it! That's a fair price! It is cheaper than new! That's for sure!

Added....I reread your post, your asking about Tiffany or named stuff. This really goes on what you learn and know. There really is no answer for you there. TOOOOO many things to consider, and no, there is not a set formula for that. Some of it is worth alot? some of it is hard to sell believe it or not. Tiffany named pieces aren't all that rare, it really depends on the piece and what you can do with it.

 

[galenrog]

I have a hard time answering this without a specific definition of "scrap price". Do you mean the floating spot price as defined by any of the trading floors? Do you mean a price or percentage below that amount? I ask because I define "scrap" price of gold as anything below 75% of the Kitco current ask, as long as I can recover and refine the gold, then sell at a gain.

 

[MRBeyer]

look over the chain really well for a makers mark. If it is a high end chain it would go for way over scrap. You hear of it here all the time. That being said, good luck on any decision YOU make.