I’d like to start buying gold jewelry. Can I tell quality from the price or are the sales just as good?
wildhorsesrunfree asked:
I can spend around $100 and will be using this jewelry to sell if I fall on hard times. Is this a good idea?
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I can spend around $100 and will be using this jewelry to sell if I fall on hard times. Is this a good idea?
June 25th, 2009 at 8:08 am
If you’re going to buy gold, spend your money on gold bars or krugerrands. Jewelry only depreciates.
June 27th, 2009 at 6:44 am
No, it is not a good idea. If you are buying as an investment, you need to have pure gold, not jewelry.
And, although the price of gold has risen recently, it has also gone down considerably over the last 10+ years. So, if you buy now you are buying at a high price and may have to sell at a low price.
Bad idea.
If you like gold jewelry and want to wear it, buy it for that.
June 28th, 2009 at 5:16 pm
If you buy jewelry in a normal retail shop, it’s price is inflated by 300% or more. Try selling a piece you just bought. You would get about 20% or it’s original price. If you want to invest, you will have to look for something that is going to go up in price. Something like antique coral has gone up in price enormously over the last years, because coral is hardly available any more. Of course that’s not an option, because the price is already very high, but you get the point.
Use the jewelry to wear and enjoy, but invest in something else.
June 29th, 2009 at 8:54 pm
I assume you will take the advice of the other posters and not purchase jewelry as an investment. Many times its price is 3-600% what you can resell it for as “scrap gold.”
To specifically answer your question…you can not tell the quality from the price. Just like with all kinds of other items a retailer can mark-up an item as much as they want to…and often they will mark it up as much as they think they can get away with. If you aren’t knowledgeable about jewelry then make sure you go to a reputable dealer or you will get ripped off.