Jewelry Buyers: How much do they pay these days?

[scrappappy]

Here are the rates that one of the Jewelers pays in the town where I live. Not sure how they do it other than our state having major issues with drug addiction.

50% of gold valued up to $500
60% for gold valued at $501 - $1000
70% for gold valued over $1000.

That's crazy prices pappy.

Those are basically pawn shop prices around here. That 50% number can go up or down based on geographic location and lot size.

That Jewelry shop is one o the largest establishments in our area. Location, location, location!
We also frequent the bumper sticker: Chicken Pot Pie, my three favorite things!
Needless to say, Gold isn't at the top of the list around here.

 

[snoman701]

We also frequent the bumper sticker: Chicken Pot Pie, my three favorite things!

If that were a delivery restaurant chain, it could put Pizza Hut and Dominos out of business and have Taco Bell running for the border.

 

[Midlands]

I couldn't get away with the 50% and 60% around here, nor would I want to. I just don't think it's fair.

Sometimes people call and ask, "How much do you pay per dwt of 14K?" But most people have no idea what their jewelry is worth (most people with coins and bullion do). It's not like buying a used car, or something off Craigslist, where you both know the value, but just haggle to find the best mutually agreeable price.

So I guarantee my best offer up front.

I'll probably aim at 75%, but I don't like to advertise prices. I'll answer directly when a client asks, but there's no need to tell everybody unless I was paying more than absolutely everybody else.

South Carolina (my new home state) has a precious metals dealer license too. What a drag, especially in a mostly small government state. But that's the cost of business. So, yeah, the profit margin has to account for the waiting period, among other things.

 

[nickton]

It makes one wonder if the gun laws shouldn't be that strict too.

 

[jimdoc]

It makes one wonder if the gun laws shouldn't be that strict too.

Gun laws are either ignored for criminals, or abused against honest citizens. You should know that in California. If you are for stricter gun laws, enjoy the state you are in. The laws on the books already need to be enforced. And criminals don't care about laws anyway. If this gets too political, it will be removed.

 

[nickvc]

I think we should avoid getting into politics but I will say that Jim is right that criminals can always get guns but here in the UK it’s incredibly hard for an honest citizen to purchase any gun and can take a very long time to actually get a license to actually buy one, you also have to be police vetted and have a report from your GP.

 

[Palladium]

It's fairly easy here. You have a gun, i want a gun. I give you money, you hand me gun!
Sales between private citizens are private and requires no government approval. Sales from manufactures and dealers require background checks. And it's an open carry state so you can strap it own your side and wear it around without a license.

 

[g_axelsson]

It's fairly easy here. You have a gun, i want a gun. I give you money, you hand me gun!
Sales between private citizens are private and requires no government approval. Sales from manufactures and dealers require background checks. And it's an open carry state so you can strap it own your side and wear it around without a license.

I see...

You have a gun. I want a gun. I give you money, you hand me gun. I point the gun on you. You give me money. I leave.

/Göran

 

[jimdoc]

It's fairly easy here. You have a gun, i want a gun. I give you money, you hand me gun!
Sales between private citizens are private and requires no government approval. Sales from manufactures and dealers require background checks. And it's an open carry state so you can strap it own your side and wear it around without a license.

I see...

You have a gun. I want a gun. I give you money, you hand me gun. I point the gun on you. You give me money. I leave.

/Göran

He sold you an unloaded gun. The one in his holster is loaded. So he then takes his gun back and keeps the money.

 

[Evan2468WDWA]

I see...

You have a gun. I want a gun. I give you money, you hand me gun. I point the gun on you. You give me money. I leave.

/Göran

Right, of course the only trustworthy people with firearms are government officials because we all know that governments have never ever done anything wrong.

 

[Palladium]

That's why you bring a buddy! :mrgreen:

 

[snoman701]

That's why you bring a buddy! :mrgreen:

Or a grenade. It takes all the skill out and just leaves the crazy. People are afraid of crazy.


Sent from my iPhone using Tapatalk

 

[nickton]

And lest we forget: I will quote from the good, the bad, and the ugly:

"There's two kinds of people in the world: Those with loaded guns, and those who dig. You dig."

:mrgreen: :lol: 8)

 

[dfpijfgiogjhiuodfgfd]

80-85% here in MA. A lot of competition.

 

[nickvc]

80-85% here in MA. A lot of competition.

Well if you refine the gold purchased at 85% of spot it should leave at least a 12% margin less costs, better than any bank return on savings :shock:

 

[lekjaz]

In my experience, the public thinks that their karat gold items are worth some large percentage of the overinflated price they paid on QVC or at Jared. They are shocked and disgusted if I offer them even 80% of spot, and they don't understand that is a really good price. I stopped beating my head against a wall trying to buy karat gold from the public. It's not worth my time or theirs. I only buy from thrift/antique shops, junk dealers, and from pickers who like going to estate and yard sales. The pickers are buying this stuff for next to nothing and are happy to sell it to me.

 

[Duncantj]

I only pay 5065%6 on what I buy and I am one of the highest paying buyers in my area I. Gold and pay 40% on Silver most buyers and pawn shops only oy around 30% on gold