Hello guys, some of you may know of my purchase of ram. I was expecting to make a profit(not much but a little something) and I lost 40 dollars. I started to look in to broken/scrap jewelry on ebay. I see things that seem like a decent deal... for example
http://www.ebay.com/itm/LADYS-GIRLS-14K-SOLID-GOLD-IRISH-CLADDAGH-RING-SIZE-5-5-3-70-GRAMS-WEAR-OR-SCRAP/191448430746?_trksid=p2045573.c100033.m2042&_trkparms=aid%3D111001%26algo%3DREC.SEED%26ao%3D1%26asc%3D20131017132637%26meid%3D5c2a8e3b014d45bd8b0578dba8f285ec%26pid%3D100033%26prg%3D20131017132637%26rk%3D1%26rkt%3D4%26sd%3D191448430746
it's 14k 3.70g gold ring, gold value is 48 dollars.
My plan is to pay 80% of it's gold value, place a max bid for 38 dollars - shipping and refine it myself or sell it as is. I know some people who are willing to pay 90-95% of spot price, this would be a sell price for 45 dollars. Since this is an auction i am hoping to get it for less. Lets say i get it for 30 dollars. This would be a 15 dollar profit?
Obviously the profit isn't much, but this is just an example. Is my logic flawed, am I missing something or some how being deceived? If so, what would you recommend to buy jewelry?
http://www.ebay.com/itm/LADYS-GIRLS-14K-SOLID-GOLD-IRISH-CLADDAGH-RING-SIZE-5-5-3-70-GRAMS-WEAR-OR-SCRAP/191448430746?_trksid=p2045573.c100033.m2042&_trkparms=aid%3D111001%26algo%3DREC.SEED%26ao%3D1%26asc%3D20131017132637%26meid%3D5c2a8e3b014d45bd8b0578dba8f285ec%26pid%3D100033%26prg%3D20131017132637%26rk%3D1%26rkt%3D4%26sd%3D191448430746
it's 14k 3.70g gold ring, gold value is 48 dollars.
My plan is to pay 80% of it's gold value, place a max bid for 38 dollars - shipping and refine it myself or sell it as is. I know some people who are willing to pay 90-95% of spot price, this would be a sell price for 45 dollars. Since this is an auction i am hoping to get it for less. Lets say i get it for 30 dollars. This would be a 15 dollar profit?
Obviously the profit isn't much, but this is just an example. Is my logic flawed, am I missing something or some how being deceived? If so, what would you recommend to buy jewelry?