Why was he so generous?

[artslinger]

I was finally able to take the gold that I scored this weekend to a jeweler for authentication. This sale was on Sat, but since the sale was on Sunday, too, I decided to swing by. To my surprise, I scored two more gold chains, and I have no idea why they were left behind from Saturday. But, they were. After work today, I went to the mall and I stopped at one of the kiosks. I asked the gentleman if there was a charge for authenticating gold. He said that he would be happy to look at it.

He took it, inspected it, weight it, and came back (without the jewelry), and gave me a number of $350. He asked if i wanted to sell it, and asked me if I had a number in mind. He went back and came back and offer me $400, and asked me what was the amount that I was looking for, again. Right about now I'm doing cartwheels and back flips, but keep my poker face. He really wanted to buy it, but I told him that I would decide if I wanted to sell it. He game me his card and wrote $400.

Never in my wildest dreams would I think that I would be offered this much. All you gold experts, can you please let me know what was his motive? I know a profit, but it is not logical to offer that amount of money for those few pieces. I know I have barely gotten on the jewelry train, but wow, this really blew me away. If I sell these four 14kt gold pieces and one 18kt, what is his profit potential for the jeweler? Thank you very much for the gold 101 crash course. :-)

P.S. the gentleman told me that the little diamonds on the bracelet were not real. mentioned CZ.

Thank you all.

Artslinger

 

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[Spartcom5]

What is the weight on all of it? He probably weighed it all and took a percentage off and made an offer. He would then probably go and try to double what he paid because none of those really look like scrap? Just my opinion, I try and stay away from selling gold jewelry unless it's broken.

Also that ring looks fantastic on the right, should try to sell that as a nice ring instead of scrap...

 

[Rodbuster209]

Christmas is two and a half weeks away, he knows he can resell them individually and make a good profit. Nice score!

 

[JimDon]

Christmas is two and a half weeks away, he knows he can resell them individually and make a good profit. Nice score!

This is dead on. He can probably sell them retail for $800 total or more.

 

[Tommybuckets]

Uhhh, they are worth more as jewelry than as scrap. Without a weight the numbers are meaningless except to say he thinks the pieces are real which is a great start. Get yourself a postage scale 10$ harbor freight (not super accurate but better than guessing) and a craigslist account you can cut out the middle man and keep all the profit. I would post an ad for 20% more than the gold value, let them talk you down to 10% if you are weak n the haggle and short for cash and meet them at the most convenient bank or police station with cash. Viola .

 

[trdhrdr007]

Without the weight it's all speculation. Having said that, I've been doing this for quite a while & have a few comments. If the rope chain is solid instead of hollow melt value is probably around $3-400 by itself. Guys that have a kiosk in a mall generally offer between 30-50% of melt & will raise that somewhat if it looks like you will walk away. Someone with an established jewelry store can sell items for more than melt. Unless you have a special piece you won't get enough over melt on a basic chain to make the hassle & expense of finding a buyer worthwhile. In every town of any size there is a guy that will pay 90-95% of melt. Buy a scale, educate yourself about melt value of the various karats, & find the guy that pays.

 

[Beachkid23]

Nice looking stuff. If the bracelets 14 K and diamonds it's $400 easily alone. With that said I would have it checked somewhere else as well. I don't think I've seen a 14K CZ tennis bracelet I'm sure they're out there. But I would get it double checked. You can also order a scale on eBay for like 7 dollars free shipping. It will give you an idea and then there's a lot of apps for gold prices you can put on your phone that will tell you the current melt value.

Is the 18 K necklace the rope necklace? If I were you I would get a scale weigh it out. Make a free account on OfferUp and ask twice whatever spot is for anything that's wearable. Meet in a secure location and part everything out. Gold sells an offer up down here where I live like fire. I'll list a pair of 14 K hoop earrings twice over spot. And have 10 messages of people wanting to buy them. I put them on eBay they sit there forever.

 

[cyberdan]

A postal scale is not the way to go. you need a gram scale. ebay has a lot at good prices. if you need one in a hurry go to your local head shop. I would bet those druggies would have several to choose from. just don't buy any with a white powder on them.

To figure out raw gold price take $1.57 X Karat X grams (based on gold at $1173.30 oz today)
(for example a 14K 5gr chain)
$1.57 X 14 X 5 = $109.90

 

[artslinger]

Thanks to all for your great feedback, comments, and recommendations. I sincerely appreciate them.

Artslinger

 

[DFW_THer]

It 'looks' like 800-1000 worth of gold at a glance, granted I can't see how thick the necklaces are, but that one looks like a $400 bill by itself.