Sell Your Jewelry in San Diego
Frequently Asked Questions:
WHY IS GOLD AT RECORD HIGH?
In a weak economy, a country needs its currency to be backed by gold as people begin to mistrust the stability of paper currency. Recently the dollar has devalued against other world currencies, so demand for gold is strong. This drives up the price of gold.
HOW IS THE VALUE OF USED GOLD JEWELRY DETERMINED?
Each piece is examined and the karat content is determined by acid tests, and then weighed. Once the weight of the actual gold content is calculated, that day’s New York gold price is used to determine the price paid. Most jewelers use grams for these calculations but some gold buyers use pennyweights (DWT) instead of grams. There are 20 pennyweights in a Troy ounce, rather than 31.1 grams per Troy ounce.
**Important note: Some dealers will quote you a price per pennyweight without telling you it is being quoted in pennyweights. The price will sound higher and this can be used to deceive you. Be sure when getting a quote to ask if the quote is in grams or pennyweights. Then be sure to compare other offers using the same unit of measurement.
WHAT IS MEANT BY “KARAT CONTENT”?
Pure gold is designated as “24 karat”. This means there are 24 parts gold out of a possible 24 parts (100%). Gold jewelry usually is mixed with other metals, called alloys, which lowers the actual gold content in the piece and makes it harder. You will normally see a marking on the item somewhere which indicates the amount of gold in the piece, such as 10k, 14k or 18k. When you see a piece marked 18k, that means 18 parts out of a possible 24 parts are gold, which is 75%. The European designation for this is 750, meaning 750 parts gold out of 1000 parts possible. Therefore, 25% of the metal in the piece is some other alloy, such as silver, nickel, copper, etc. Likewise, a piece marked 14k is 14 parts gold out of a possible 24 parts, or 58.3% gold. Sometimes it is marked 585, which is 585 parts gold out of 1000 possible parts. But be aware that the markings could be counterfeit. If you are uncertain, there are tests which help determine if a piece of jewelry is real gold or plated.
HOW CAN YOU TELL IF JEWELRY IS REAL GOLD?
Following are some simple tests you can do:
1. Inspect high-friction areas for discoloration. If the item is plated, that's where the plating will begin to rub off and show discoloration.
2. Hold a magnet up to the item. Gold is not magnetic, so if it sticks to or pulls toward the magnet, it's fake. If it doesn't react to the magnet, however, it could still be fake--just made from a non-magnetic material. Note that the clasps of most chains will attract to the magnet because of the metal springs in the clasps.
3. Perform chemical acid tests. These tests are best left to the professional jeweler to do for you.
DO THE STONES SET IN JEWELRY HAVE ANY VALUE?
Nowadays many dealers are only interested in the gold content of your jewelry. They want to buy the item strictly for the gold value and have no interest in it as a piece of fine jewelry. They may say the stones are of no value and may offer to pull them out and give them back to you, even if the jewelry is still in good shape! Your item of jewelry may have more value than just the gold if the stones are left in place. What an item is worth above its material value is a question of supply and demand. Some styles or diamond shapes are not currently in vogue, making them more difficult to resell, whereas other styles are very much in demand and will command a premium buying price. Estate Buying Group takes care to restore and market any piece of jewelry that is still sellable as a piece. They have an international client base of collectors eager to buy jewelry of all types.
HOW IS THE VALUE OF DIAMONDS IN JEWELRY DETERMINED?
Estate Buying Group will carefully evaluate the characteristics of your diamond. Proportions, color, clarity and carat size all affect the value. Current market conditions then dictate what can be paid. Larger diamonds of good quality can command a considerable premium. Estate Buying Group has a staff with over 50 years of combined experience in the diamond industry. They are trained to evaluate all the factors and determine the best price possible based on the current market.
IS AN APPRAISAL NEEDED IN ORDER TO SELL JEWELRY?
No. An appraisal is usually done to provide an insurance replacement value and will not help with the information necessary to determine resale value in the marketplace. It can also be seen as a conflict of interest for a potential buyer to do a market appraisal. If you do want an appraisal in order to sell jewelry, it should be done by an appraiser who is not also in the business of buying used jewelry. However, if you do need a written insurance replacement value appraisal, Estate Buying Group can do this for you.
WHY IS MY INSURANCE APPRAISAL SO MUCH HIGHER THAN WHAT I CAN SELL MY JEWELRY FOR?
An insurance appraisal is usually done at full retail price. It is an estimate of the replacement value if you had to re-purchase the item after theft or loss. Some companies will even give you an insurance appraisal that is well over the usual retail price just to make your purchase seem more like a great bargain. This gives a false impression of worth and can give one quite a shock when setting out to sell the item back.
WHAT ARE SOME TIPS TO KNOW WHEN SELLING GOLD?
Trust your instincts. If the person at that counter makes you uncomfortable or you get a “bad vibe”, you are probably right. Work with someone you can trust who makes you feel comfortable during the transaction. Don’t be pressured to “cough up a price” yourself. The professional knows what he can pay for your items and should be able to give you a quote if he is paying a fair market price. The Estate Buying Group staff is not only friendly and knowledgeable, but will play it straight with a fair offer right up front.
WHERE SHOULD I GO TO SELL MY JEWElrY?
Estate Buying Group has three convenient locations throughout San Diego County with offices in Encinitas for North County residents, La Mesa for the East County, and in Mission Valley for Central San Diego. Simply call our toll free number and make an appointment with the office nearest you.
(877) 742 -8946
(877) 74BUYING
Get A Quote
San Diego
Inside Benjamin & Sons Jewelers
1233 Camino Del Rio South #103
San Diego, CA 92108
Tel: 619-293-3312
Store hours: Mon-Sat 10-6
Map
La Mesa
7520 El Cajon Blvd, Suite 106
La Mesa, CA 91941
Tel: 619-461-0600
Store hours: Mon-Sat 10-6
Encinitas
Belle Roche Estate Buyers
2210 Encinitas Blvd. Suite G1 Encinitas, CA 92024
Tel: 760-479-2300
Store hours: Mon-Sat 10-6
Map
Email us:
sales@sandiegobuyinggroup.com