| Author |
 Replies: 8 / Views: 1,747 |
|
|
Pillar of the Community
United States
2130 Posts |
What is the math when buying 14k gold?  |
|
|
|
Valued Member
United States
285 Posts |
24K is pure gold so 14K is 58.33% gold. (0.5833)*(weight of the item in troy ounces)*(spot price of gold per troy ounce) and you should get the value. Someone correct me if I am wrong.
|
|
Bedrock of the Community
United States
10982 Posts |
albumcollector's math is correct. The price you will receive for 14K gold is often well back of spot though. If you use albumcollector's math and can get 90% of the value derived when selling your 14K, consider it a fair deal.
P.S. Many of the TV, radio, Internet, traveling buyers, etc will offer 50% or less of the melt value for 14K gold. DO NOT accept any offer of this type!
|
|
Pillar of the Community
 United States
2130 Posts |
Thank You All.  |
|
Valued Member
United States
285 Posts |
No problem Chris, and thanks again for the shield cents!
|
|
Bedrock of the Community
United States
20753 Posts |
Just remember that if your planning buying 14K Gold, many add on a stiff margin for what the item is. For example a 14K Gold charm for a charm bracelet may well run you double or even triple the Gold Price. Neclaces, bracelets, broaches, etc also have numerous different values. This becomes true too when you sell those since some jewlers well know they can sell such items for much more than Gold prices.
|
|
Rest in Peace
United States
9104 Posts |
When we were actively doing shows, we paid dealers 90% of melt, and most of them sold to us. A friend paid 90% on platinum, and dealers from all over the country sold to him.
|
|
Valued Member
United States
287 Posts |
Wow, 90% is really good. If you can sell 14k & get 90% of the value, I think you are getting a great deal. If you are buying and paying 80%, I think you are giving a fair price IMHO
|
|
Pillar of the Community
United States
4008 Posts |
Quote:
For example a 14K Gold charm for a charm bracelet may well run you double or even triple the Gold Price. Pricing of that sort is pretty typical in the jewelry business from what I have seen. There is often a very large difference in the wholesale vs. the retail price. PMs are one thing but it seems even worse for semi-precious gems. My wife buys jewelry for one of her shops and then resells it. She does not mark her stuff up as much as many do, so has quite a few regular customers. I once went with her to a wholesale sales event and bought her a gorgeous 5 caret aquamarine for her birthday. We had it mounted in a white gold setting of her choice. It all came to about $350 or so. A few years later, she had to have her personal jewelry appraised for insurance coverage and it was appraised at $1500. You can tell from these prices that it WAS a while back. Even so, the nearly 5x difference between wholesale and retail (plus the 2 years) was pretty significant. Not sure what the immediate difference would have been... but probably somewhere in the 2x-3x range. |
| |
Replies: 8 / Views: 1,747 |
|
Posted 08/18/2010 04:11 am
