who buys jewelry locally?

[nature boy]

ibt "cash 4 gold"

i have some old pieces of jewelry (gold, silver, sterling silver and maybe some diamonds) that i might as well just sell as it's just sitting around getting gross. where can i go to sell it for a good price?

[geForce]

Money Mart buys gold... not sure about good price though. I don't know about silver either, I think they just buy gold.

Or you could try a pawn shop.

[Duncan]

it's probably best to check with someone in the jewelry business/industry to see where the best place is to pawn your stuff. i'm thinking some places rip you off and some places give you a fair deal... if you don't know anyone then ask jai... he seems to know a lot about bling

[nature boy]

actually i had a friend who used to work at a jewelry shop, but he was kind of weird, not sure if he left on good terms.

[Duncan]

sooo.... back to square one?

[joel]

VBCE buys gold and silver, but you'll have to melt it down to bars first.

[Duncan]

i recommend using a microwave to melt it

[jeSteR]

Unless it's high end or super unique jewellery, you're going to get shafted anywhere you go. The used market (apart form estate sales) is pretty set in its mark up.

If you have a gold bracelet or diamond that Insurance valuates at say $5000, then the actual street / retail price would probably be around $3000 for the item brand new. If you are trying to sell it on the open market as used, you could be looking at getting around $1300 - $1700 on Craigslist or wherever. Now if you sell to a "broker" "pawn shop" "reseller"... whatever, they will only be able to sell it at the market value as well, and they look to make at least 50 points on their resale, so don't expect much more than $600 - $800 for said item.

You will get hosed.

Just as a frame of reference, I purchased Coleen's Tiffany's Aquamarine Victoria ring through an estate sale. As a Limited Tiffany's product, (not all those mass produced sterling silver charms and tags and crap that you see everywhere) it actually holds it's resale value way better than non branded jewellery

Brand new it was $13000. It's Tiffany's so there is no discount. The seller wanted $8000 for it. I ended up paying $4200.

Don't expect a lot coming back.

[geForce]

Hey Nat, let's go to dinner with the $50 you'll be getting!

[Duncan]

i think it'll be less... i have a feeling he's trying to pawn a ring pop

[nature boy]

this sucks. i'll try craigslist but i have a feeling no one would want the stuff i have.

[geForce]

Especially if they're all gross and grimy like you said.

There's tons of jewelry on CL... it'll be a hard sell on there.

[nature boy]

ok, i guess i'll keep them then haha.

[nature boy]

do diamonds keep their value? or do resale of them suck as much as gold?

[jeSteR]

Not much better, unless it's an exceptional cut ( http://www.pricescope.com/tools/hca ) or a brand name diamond. In case you haven't heard, there's a HUGE surplus of diamonds that DeBeers just stores to artificially keep the prices inflated. No real dealer would buy used diamonds because new uncut ones are so readily available if you're connected to the official channels. That means you can only sell used ones to joe blow off the street.

Everything you ever wanted to know about diamonds. The BEST resource bar none.

http://www.pricescope.com/wiki/

Best place locally to buy a rock.

http://www.diamondfile.com/

Ron is the man, and he does ALL the aftermarket work for Tiffany's. If he has time, he'll even show you his workshop. It's freaking awesome.