Case Study: My Experience With Rings
Useful Tips for Gold Jewelry Shoppers Jewelry of all kinds, particularly gold, is among the most popular items to buy as a gift and for oneself. Sadly, in the big majority of jewelry purchases, people pay far too expensive a price. The typical jewelry sale is computed at “triple keystone” price, which the trade refers to as triple cost. In short, if a jeweler shows you a book where an item is listed at a price of $3,000, he has likely has shelled out $1,000 for it. He might offer you a “bargain” price of $2,400, which is 20 percent less than the original price. Don’t think you’re taking advantage of his kindness – he will be pocketing $1400, a 140% profit on an item he bought for $1,000. You need to know the essentials of gold jewelry. Jewelry that is marked “750” is 75 percent gold and 25 percent alloy, which means it is considered 75 percent pure gold, comparable to the purity of 18-carat gold. Fourteen-carat gold, which is stamped “585,” is 60 percent pure gold. Using the same logic, “375” or 9-carat gold is 37.5 percent pure gold. In England, people have high regard for 9-carat gold, but that is not the case in the US., where it is classified as costume jewelry and hence not a good investment. You can probably never resell it for any amount close to what you paid for it. Jewelry in general is sold for its pure gold weight. You must weigh your gold jewelry on a jeweler’s scale to know its base value. No matter its weight, deductions must be made for the amount of alloy in the metal: as 18-carat gold, for instance, is 75 percent gold, you need to remove 25 percent from the value so you can come up with its gold weight. So, if the gold is currently priced at $1,000 per ounce, and you have a four-ounce 18-carat piece, the pure gold’s value in the piece is $3,000, which is what you could expect to get if you sold it.
A Quick History of Gold
On the other hand, if you bought the same 18-carat piece on Forty-Seventh Street, you will most likely find a store that sells it for some $4,000, which is around a third above its weight. Outside the jewelry district, the standard is triple keystone, and the same pieces can likely be bought for around $9,000. Certainly, the above doesn’t hold true for pieces by Bulgari, Cartier and other high-profile designers, where a pure gold bracelet weighing three ounces can be sold for as much as $30,000 (ten times its weight). But then again, there are rather well-designed pieces by world famous jewelers, so you will be paying a very reasonable premium for the design and the “name.” But if you decided to sell such designer pieces, though you will surely get some premium over weight, it will not be that much more than the weight that a typical gold piece would bring.Understanding Gold