$64 question.
Yes but I was hoping for people to throw out personal examples from what they have found.
Thank you for your reply. I'm surprised they only offered $700 for that. I know they have to make a profit but I would have expected more.
There is a tremendous markup on diamond rings, you lose about 50% of the buy price once you walk out the door of the jewelry store on most common diamond rings depending on the cut, clarity, color and carot size of the stone.
Wow. I didn't know that.
Jewelry stores are in the business of selling new jewelry not buying used, you would be lucky to get 25% of original price if you are lucky, maybe a little more if it is designer jewelry brand like Tiffany's or Cartier....
Thank you.
Did you sell it ?
If I found a solitaire diamond ring I can't send that in to a smelter since there is a diamond with the ring.
You remove the stones before sending them in to refineries, although some will return them to you.
Your post was very helpful.You remove the stones before sending them in to refineries, although some will return them to you.
On a $2000 ring found at the beach the value is in the gold and how much gold there is, there is next to no resale value in the stones.
Gold content
10k = 41.7% gold
12k = 50% gold
14k = 58.3% gold,
18k = 75% gold.
22k = 91.67% gold
24k = 99.9% gold
There are gold calculators on line you can use to get gold value, multiply the weight of the ring times k value based on spot price of gold.
Here is link to one.
Scrap Gold Calculator (Live Gold Price) - GoldCalc.com
Gold calculator integrated with the live gold price to calculate an accurate value before buying or selling. Features include tips on selling, gram scale options, and links to credible resources.www.goldcalc.com
Most refineries will not deal with a single ring, not worth the trouble so save and cash in multiple rings at same time, the different Karots want matter, they will melt them down together, then test the k of them melted down and pay a percentage of that. I want except less than 90% of gold value so ask what they are paying before you have it melted.
Diamonds have lots of value till you buy them and leave the store, then for majority of diamond rings the diamonds value plunge, a $25,000 Tiffany's or Cartier diamond ring will have value, a $2,000 diamond ring not so much. You lose 50% of the value as soon as it leaves the store, add normal wear if worn ever day and loses more.
It was not an offer. I just asked for an on the spot opinion. I doubt he would have paid me that price (unless it was much more valuable than he said).
Yes. To the woman that was a customer in the store, but she bought it outside.
So if I found a 14k gold ring weighing 4 oz, assuming the smelter wuld pay 90% of the spot price which is now $1,957 this means I could get $4,086 (1957 x .90 x 4 x .58).You remove the stones before sending them in to refineries, although some will return them to you.
On a $2000 ring found at the beach the value is in the gold and how much gold there is, there is next to no resale value in the stones.
Gold content
10k = 41.7% gold
12k = 50% gold
14k = 58.3% gold,
18k = 75% gold.
22k = 91.67% gold
24k = 99.9% gold
There are gold calculators on line you can use to get gold value, multiply the weight of the ring times k value based on spot price of gold.
Here is link to one.
Scrap Gold Calculator (Live Gold Price) - GoldCalc.com
Gold calculator integrated with the live gold price to calculate an accurate value before buying or selling. Features include tips on selling, gram scale options, and links to credible resources.
Most refineries will not deal with a single ring, not worth the trouble so save and cash in multiple rings at same time, the different Karots want matter, they will melt them down together, then test the k of them melted down and pay a percentage of that. I want except less than 90% of gold value so ask what they are paying before you have it melted.
