Recently, I made an offer on a hand- made piece of jewelry made in Greece. My client had been told by another buyer that the piece was made of 18k gold. I examined the piece and determined that it was, though stamped k18, not 18 karat but a mixture of 14 karat and 18 karat gold and worth approximately $1,800.
To convince my client that I was correct, I brought the piece to four other gold buyers for confirmation. The first, an expert in precious metals, confirmed my evaluation that the piece contained both 14 karat and 18 karat gold but declined to make an offer until the piece was assayed which meant destroying it. The second, a gold buyer in a flea market, told me it wasn’t gold at all and worthless, the third, a buyer at a retail jewelry store said it was half gold and half sterling silver and worth $565.00. The last, a buyer at a kiosk in a local mall said it was 14karat and offered $1,300.00
My client gladly accepted the $1800.00 I offered.
On the same day, a young college student who had sold me gold before brought me a heavy link chain stamped 14k for which he had paid $300.00. It took no more than a simple magnet test to determine that the chain was not gold at all. Gold is non magnetic and the chain adhered to the magnet.
Later that week, another young man brought me a chain stamped 14k. He purchased it for $100.00. He called me with the weight of the chain and asked how much I would pay him for it. He was delighted to think he could make an easy $250.00 profit. When I examined it, I was sorry to have to tell him the chain was, in fact, not gold at all but only plated with gold.
Lesson to be learned:
Not everyone who claims to be an expert at evaluating the purity of Gold is an expert. They may be honest and offer to pay for your jewelry based on what they think is the gold content. Though honest, not experienced enough to be able to determine the actual gold content and pay for the true value of the piece. If you want to get the most for the gold you sell, you must have it evaluated by a buyer with experience, expertise and the best and most high tech equipment for testing the gold.
I have been buying Gold for more than 20 years, which attests to my experience and expertise and I use the most sophisticated equipment available on the market today to test for purity. You can be sure your gold has been properly evaluated and you have been paid the highest amount for it.
The post A Lesson In Selling Your Gold and Silver appeared first on Big Financial BLOG.
source http://blog.bigfinancial.co.uk/a-lesson-in-selling-your-gold-and-silver/
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