In late July, my mom was watching my little one for the day. I needed to pick her up, so I called my mom. "We're hitting some GS in an addition" she said, "why don't you come shop with us."
I was beat tired, and very hot. It was super humid that day, but I reluctantly agreed.
I met up with them, and at the first GS, I bought a gold necklace for 25 cents. It was marked 10K, but it was obvious that the clasp had been replaced. I figured it might bring $12.
I put that necklace in my old beater truck, where it stayed until late October. I finally ran into a local PM scrap buyer, and asked him to weigh it for me and let me know how much it was worth.
He called me a week later, and I was immediately mad when I heard him say "I've got your money for the necklace." He was supposed to let me know a price before selling it. No way was I going to let a $12 or $15 necklace go for $6. I'd let my daughter use it as a dress up toy first. It was also one of those moments where you get a sick feeling in your stomach.
I was beside myself when I learned that the necklace brought $155 with a refinery buyer, and my buyer kept $20 of it.
The necklace had been repaired with a different clasp that was marked 10K, but the necklace tested numerous times at 24K. I am told that it is rare to find 24K in jewelry.
I'm still stunned by the price that necklace brought. I am not a PM guy, and have never owned any jewelry other than my personal wedding band.
A pretty nice return, IMO...25 cents for a $135.
Just wanted to share this story. It's not my best GS find, BTW.
I was beat tired, and very hot. It was super humid that day, but I reluctantly agreed.
I met up with them, and at the first GS, I bought a gold necklace for 25 cents. It was marked 10K, but it was obvious that the clasp had been replaced. I figured it might bring $12.
I put that necklace in my old beater truck, where it stayed until late October. I finally ran into a local PM scrap buyer, and asked him to weigh it for me and let me know how much it was worth.
He called me a week later, and I was immediately mad when I heard him say "I've got your money for the necklace." He was supposed to let me know a price before selling it. No way was I going to let a $12 or $15 necklace go for $6. I'd let my daughter use it as a dress up toy first. It was also one of those moments where you get a sick feeling in your stomach.
I was beside myself when I learned that the necklace brought $155 with a refinery buyer, and my buyer kept $20 of it.
The necklace had been repaired with a different clasp that was marked 10K, but the necklace tested numerous times at 24K. I am told that it is rare to find 24K in jewelry.
I'm still stunned by the price that necklace brought. I am not a PM guy, and have never owned any jewelry other than my personal wedding band.
A pretty nice return, IMO...25 cents for a $135.
Just wanted to share this story. It's not my best GS find, BTW.
