Unfortunately, multitudes of consumers experience the cold, harsh realities involved with selling gold jewelry.
The bottom line being, these businesses recognized a need (people needing quick cash in an economically trying time) and discovered how to make substantial profits.
Should people participate in selling gold jewelry with respect to unused or unwanted items lying around the house collecting dust? In most instances, the amount of money individuals acquire is hardly worth the effort.
In a number of cases, naive people lose the items forever without realizing a dime's worth of profit.
Individuals Googling gold selling jewelry scams, encounter pages displaying sites that warn consumers of the numerous complaints associated with various selling gold jewelry companies.
Especially during tough economic times, people must exercise diligence and research all of the aspects of potentially profitable programs.
Actual Value Selling gold jewelry means businesses acquire items for scrap gold.
Appraisers determine the value of any piece by the quantity of gold, the weight of the amount of gold, minus precious stones and non-gold materials used in manufacturing the product.
Realize that retailers determine the selling price of each piece of jewelry at enormous mark-ups, in many instances up to 300%.
This cost pays everyone involved with the jewelry from manufacturers, advertisers, distributors, to retailers.
An item sold for $300, may actually only be worth $100.
This value includes the price of the gold used to create the item, the type of setting or artisan-ship involved, any precious stones and the aesthetic value to a consumer.
Scrap gold values consist of the jewelry minus any precious stones, non-gold settings, clasps or other materials.
Therefore, consumers should remove any precious stones from pieces before selling gold jewelry.
Profits In order to illustrate the difference between the fundamental worth a piece of jewelry contains and the amount consumers receive for selling jewelry, let us say the market declares today's gold price at $1343.
90 for one Troy ounce, or $43.
21 for a gram of 24k gold.
A necklace containing 10 grams of 14k gold (rated at 38% content) is worth $164.
However, independent investigators selling gold jewelry evaluated businesses and determined that consumers receive pennies on the dollar compared to an item's actual worth.
Depending on the company that acquires this necklace, an owner receives: Money 4 Gold - $3.
27/gram $32.
70 for 10 grams of 14k gold Postal Gold - $2.
63/gram $26.
30 Cash 4 Gold - $3.
33/gram $33.
30 Cash My Gold - $3.
11/gram $31.
10 Companies cite numerous overhead expenses as the reason for minuscule payouts.
Nevertheless, make no mistake; businesses would not continue providing selling gold jewelry services if not for the steep financial rewards involved.
Also, notice that none of the companies disclose the dollar amount paid per karat weight content or per gram of gold.
Complaint Record As with any industry involving transactions, common complaints have been filed with the Better Business Bureau as well as numerous consumer groups.
The bottom line being, these businesses recognized a need (people needing quick cash in an economically trying time) and discovered how to make substantial profits.
Should people participate in selling gold jewelry with respect to unused or unwanted items lying around the house collecting dust? In most instances, the amount of money individuals acquire is hardly worth the effort.
In a number of cases, naive people lose the items forever without realizing a dime's worth of profit.
Individuals Googling gold selling jewelry scams, encounter pages displaying sites that warn consumers of the numerous complaints associated with various selling gold jewelry companies.
Especially during tough economic times, people must exercise diligence and research all of the aspects of potentially profitable programs.
Actual Value Selling gold jewelry means businesses acquire items for scrap gold.
Appraisers determine the value of any piece by the quantity of gold, the weight of the amount of gold, minus precious stones and non-gold materials used in manufacturing the product.
Realize that retailers determine the selling price of each piece of jewelry at enormous mark-ups, in many instances up to 300%.
This cost pays everyone involved with the jewelry from manufacturers, advertisers, distributors, to retailers.
An item sold for $300, may actually only be worth $100.
This value includes the price of the gold used to create the item, the type of setting or artisan-ship involved, any precious stones and the aesthetic value to a consumer.
Scrap gold values consist of the jewelry minus any precious stones, non-gold settings, clasps or other materials.
Therefore, consumers should remove any precious stones from pieces before selling gold jewelry.
Profits In order to illustrate the difference between the fundamental worth a piece of jewelry contains and the amount consumers receive for selling jewelry, let us say the market declares today's gold price at $1343.
90 for one Troy ounce, or $43.
21 for a gram of 24k gold.
A necklace containing 10 grams of 14k gold (rated at 38% content) is worth $164.
However, independent investigators selling gold jewelry evaluated businesses and determined that consumers receive pennies on the dollar compared to an item's actual worth.
Depending on the company that acquires this necklace, an owner receives: Money 4 Gold - $3.
27/gram $32.
70 for 10 grams of 14k gold Postal Gold - $2.
63/gram $26.
30 Cash 4 Gold - $3.
33/gram $33.
30 Cash My Gold - $3.
11/gram $31.
10 Companies cite numerous overhead expenses as the reason for minuscule payouts.
Nevertheless, make no mistake; businesses would not continue providing selling gold jewelry services if not for the steep financial rewards involved.
Also, notice that none of the companies disclose the dollar amount paid per karat weight content or per gram of gold.
Complaint Record As with any industry involving transactions, common complaints have been filed with the Better Business Bureau as well as numerous consumer groups.
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