Don't Be Fooled by Dishonest Gold Buyers

Copyright: shinobi34 / 123RF Stock Photo

 
When you buy jewelry at a retail store, you are paying for the design and craftsmanship, as well as any precious and semi-precious stones that may be a part of the piece.  However, when you go to sell your jewelry to a jeweler or pawn broker, they typically buy your jewelry based on the price of the weight of its gold content, not for the stones or designer name.  

Amateur gold buyers weigh your gold and offer a set price. At Sumpters our goal is to create a lifelong customer. We aim for a fair and reasonable price, cultivating a relationship built on trust and fairness. We are confident we can offer a purchase price that will be more than our competitors.  There are countless unfortunate stories about high value designer gold jewelry items being purchased for scrap by an unknowing or dishonest gold buyers and a naïve seller. At Sumpters our well-trained staff knows how to identify pieces of value. There have been many cases of our buyers identifying a quality or designer piece and offering the client way more than they expected, due to the potential resale value of the item. Many gold buyers in the area bring items to us to sell because uninformed sellers have sold them items for a fraction of the value. You can rest assured that if an item is in question we will research the piece and share the results with you. 

The less gold content in a piece of jewelry, the less money it will be worth to anyone who intends to melt it down. A beautifully designed piece of jewelry may have more resale value as used or "estate" jewelry than it will have as recycled gold. Before you sell your items for its scrap value let us examine it to determine what your options are.  We have turned many unwanted items into pieces that are now beloved.  Maybe it’s your grandparent’s old jewelry or watch that you would never wear.  We can restyle and even add some diamonds to make it more modern and reflect your own style.  The possibilities are endless.  

The price of gold tends to rise when the economy is doing poorly, and we know it sucks right now!  Over the last few years, gold prices have risen about 70 percent. Though the price has dipped slightly since reaching record highs, gold still shines!  It's easy to get burned in the gold-selling game so it helps to have a clear idea of what you're selling before you go to sell your pieces.  

The gold content of jewelry is indicated in karats. Solid gold jewelry is 24 karat. Lower karat jewelry has less gold content and more of other metals and hardening agents. Gold buyers will only pay for gold. With few exceptions, other metals have no resale value. Generally, the gold content of any piece of jewelry will be marked on it somewhere -- on the inside of a ring or bracelet and on the clip of a necklace or the back of an earring, and some aren’t stamped at all. For instance, an 18-karat piece of jewelry may be marked 18K, or may say 750, which stands for 750 parts per 1000 of gold, 75% gold and 25% other components. 

  
Here are some other examples:

•    Sterling silver=925
•    10K gold =417
•    14K gold=585
•    18K=750
•    Platinum=950

Whether you are looking for some extra cash, or considering trading your old items in on something new, consider stopping by Sumpters.  Let us make you a no pressure offer.   You will find that we offer the best prices.  Let us turn your gold jewelry sale into a success story!

Sumpters Jewelry • 3501 Wilkinson Blvd • Charlotte, NC 28208 • (704) 399-5348

www.sumptersjewelry.com
written by: Susan G
edited and designed by: Carolyn M