News For This Month: Rings

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Useful Tips for Gold Jewelry Shoppers Jewelry of all kinds, specially gold jewelry, is one of the most usual things to buy as gifts and for oneself. Unfortunately, in the large majority of jewelry purchases, people pay far too much a price. The usual jewelry sale is computed at “triple keystone” price, which is known in the trade as calls 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. You don’t have to feel guilty – he will be making $1,400 on something he bought for $1,000, or a a profit of 140 percent. 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. Gold stamped “585” is 14-carat and 60 percent pure gold. In the same way, “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 may never be able to resell it for an amount close to how much you bought it for. 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. Hence, if the gold is presently priced at $1,000/ounce, and you have an 18-carat 4-ounce piece, the value of pure gold in the metal is $3,000, which is the least amount you could get if you were to sell it.
Understanding Gold
On the other hand, if you purchase the same 18-carat jewelry on Forty-Seventh Street, you should find a shop that sells it for around $4,000, approximately 33% more than 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). Then again, famous jewelers design usually design exquisite pieces, so you’re paying a substantial premium for the design as well as the brand. But if you were to sell such designer pieces, even if you will surely get some premium over weight, don’t expect it to be significantly more than the weight an average gold piece would bring.Rings – Getting Started & Next Steps