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Selling Gold Rings Retail

I

IDETECT

New member
I was wondering what experience any of you have had selling your gold rings retail. I'm thinking of consigning some rings with a local jeweler for 50% of the sale value. So if they sell a ring for $1,000, they would keep $500 and pay me $500. I think this is a fair for them since they really don't have any $ invested and fair for me since I will get more than scrap value. Of course, they would have to show me the sales receipt.

Your thoughts?
 
I know what the scrap value of the rings are, but I was hoping to get more than what ARA would give.
 
Not an issue. If you get what you need nothing else needs to be discussed. And to show you the sales reciept??? I doubt it. You have to trust them, and if your getting more than ARA just be happy with what you get
 
Agreed...just wondering if anyone here has sold your finds on consignment and what arrangements you had. I'm thinking of taking a case of gold rings to the local jeweler and have them pick out whatever they feel they can sell.
 
I've never done so, but given that jewelry typically has around a 100% or more markup a 50/50 split sounds like it would be fair. Perhaps the markup is lower on used items, or lower due to the near record gold price, but honestly I really don't know :shrug:. Either way, I would make sure to get solid figures on what the jeweler plans on getting for the rings, and obviously it would be in your best interest to exclude any items with a scrap value of more than half of the estimated retail value.
 
I've sold a few rings through a local jeweler. He's only interested in the high end stuff with larger diamonds. He takes 1/3 and I get 2/3. It usually takes a year or more for the rings to sell but he gets top dollar and I'm willing to wait to get a higher amount.
 
New jewelry sells for 3-5x actual cost. Has an incredible markup. That is why you don't see to many poor jewelers....
 
After having it aprased for street value. They wanted to give me $89 for scrap. I showed it around, got $200, 6th person to look at it, laid the money down. Over the counter worth abt $850 new maybe. If it's decent, it's not hard to beat scrap $. Gold is so high, it's not hard to sell at reduced price.
 
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