Pawn Shop my new thrift store?

[twiasp]

So I believe I figured out where the goof up was. They had this piece marked with a price tag stating only that it is "jewelry" and had a barcode. The receipt, on the other hand, lists details for the specific item. Here is where the answers almost seem more clear and then make you go.. what?

The receipt says that the item was a jewelry necklace. It says that it is 10K. Also, it states the item weighs 2.2 DWT.

So let me break this down piece by piece. The information that they put into their system states the necklace is 10K, despite it acid testing as 14K and hallmarked on the clasp & tag. Even at 10K with my scale this piece is worth $56, which would mean it would be sold at 71% of spot.

The weight they have listed for my piece (2.2 DWT) puts it at about .1 grams more than mine. Who is correct? I hope theirs for more than one reason. 0.1 grams isn't much of anything, but it is another $2.40 in 14K.

So assuming my scale is off by that little bit (unless they rounded 2.12 DWT up to 2.2), I actually paid $40 for $82 worth of gold.

Maybe they just use a shipping scale and it only moves by .2 at a time.

 

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[insontis]

Nice finds. The pawn shops around here are all out of their minds, when it comes to prices on anything.

They aren't too bad on prices it would seem. Most of the items they are selling are set for prices that I would try to sell them for, though. Apparently their silver rounds/coins are fairly priced or highly popular in my town because I have never seen any when I've gone in there.

 

[insontis]

Swung by the pawn shop again today. Grabbed one 10K cross pendant for $10. I didn't weigh it and didn't care if I paid 2x spot for it; I knew I could sell it with a chain for a profit. Turns out it weighs about 0.8 grams for $13.84 melt, but there is a small opal in the center.



This little guy was hidden in the back corner of their "$9.99 sale case". Original price tag on it was $29.99.

I checked out a few other pieces, but nothing struck me as a "sure" flip and I don't have the funds aside to get too crazy at the moment. Hoping that my restraint will pay off and some of the higher priced pieces will drop down. They did have a vintage looking "sterling" ring with a 3d flower type design around an oval tiger's eye stone. I didn't see a mark inside the band after a quick inspection, but I'm almost certain it is genuine. They also want $9.99 for it. *considering* Other than that, my main interest is in some of the $29.99 10K gold rings they have. They put a new 10K yellow gold ring out with a simulated ruby center with accent stones set in white gold. The inside of the band was sort of carved out rather than a solid ring and it was pretty dirty. Had it been clean I might consider it and try to flip it for $60-80.