I have written about these vendors before and I wanted to get a little more in depth on the principles and practices of how, why and how much the buy and sell gold for. I would also like to discuss diamond jewelry prices and sales.
Without using names, many local jewelry stores claim they buy gold and they pay the best. Paying the best has nothing to do with paying you more. It has to do with paying you in an expensive gallery that you feel the best in (Joking). Maybe you are buying something from them and the price they give you for your gold looks more than the other offers but you are far from correct.
I sell diamonds to Jewelry stores. I know what they pay for precious metals exactly. Because I know what they pay, I know they mark up their jewelry 500%. This leaves them 80% profit to negotiate with. If your gold you are about to trade to them is worth $100.00 to a gold buyer, they will tell you they are giving you $200.00 so you sell it to them. All they really did was lower their mark up to 450%. Do not be fooled. This is a standard procedure for car salesman also.
The gold solution is to enter the jewelry store and request a price from them as to what they will buy your items for. After you get this price, then ask to offset that amount against what you wanted to buy in diamond jewelry. Do not tell them you want to buy anything in the beginning.
Come to us and we will acquire a diamond for you at jeweler prices and have them make you the setting. Its many times more inexpensive.
Tell me your experience in buying a diamond ring?
Tell me your experience in buying a diamond ring?
Nice information.
ReplyDeleteThat you sharing with us.
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