What is the retail value of a 24 inch, 18 Karat, 7.5 gram gold diamond cut chain necklace?

February 16, 2010 by admin  
Filed under Gold Chain Necklace

Jason asked:


I bought a gold chain some years back, and with the high price of gold now-a-days pushing 1000 a ounce.I was wondering what my gold chain is worth now retail. And what could expect to get for it if I tried selling it.

Vintage Classic Cars

Uncategorized

Comments

2 Responses to “What is the retail value of a 24 inch, 18 Karat, 7.5 gram gold diamond cut chain necklace?”
  1. Mens Gold Chain

    The truth is that selling your necklace right now would mean you were selling it for the gold value. When you bought it, you paid for the gold value and the labor to make it and some profit. So, you probably are not going to make any money on it.

    While it is true that with gold up to $779 for an ounce, and you have 7.5 grams, take the $779 and divide by 31.3 and that gives you the per gram price of MELT value. That is without labor or profit. A person who will buy this from you to melt it, will pay you LESS than that price so they can make some money. For instance, a pawn shop or jeweler might try to make as little as a 5% profit. So, take $779 x .75 (it’s only 18KT) x .95 and then divide by 31.3 and that gives you the per gram price of $132. I would expect this to be the MOST you might get from someone who wants to melt you necklace.

    The best thing you can do is try and RETAIL your necklace on eBay or to a friend or some place where you can not only capitalize on the increase gold value, but also not loose the labor and profit you paid.

    Retail value for this necklace (assuming it is in good shape) is considerably more. they explain what standard retail pricing can be. 7.5 grams x $30 is $210, almost 50% more.

    Hope this helps!

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!

You must be logged in to post a comment.