Gold Content Vs. Gold Retail: What you need to know when selling gold in oklahoma
There is an issue with the this pricing thing when trying to sell your gold or gold jewelry.
What is Gold Content and What is Gold Retail?
When you are trying to sell your old gold jewelry in Oklahoma, you need to know the difference. Gold content consists of how much gold your jewelry has in it. For example, maybe you have an old 14k gold necklace that weight 1.01 oz. That is the gold content and that is what gold buyers pay on.
So what is gold retail? Gold retail is the price your necklace (for example) would be on the jewelry retail market. One thing people always say is, “I bought this necklace for $800 and you’re telling me it’s only worth $400.”
The answer is YES! Because you bought the necklace at a retail price. Let me drive this point home. Take a pair of shoes out of your closet and ask yourself what you paid for them. Now, ask yourself how much it cost to make that pair of shoes. The shoes I have one right now would go for $100 on the retail market. But they are only worth about $10…see the difference.
So where do you go to sell your jewelry on the retail market in hopes for more money. My recommendations would be either Ebay or Craigslist. Craigslist is free where Ebay will make you pay. Craigslist is also a local search engine so someone from California wouldn’t know you had jewelry in Oklahoma for sale.
If you can put up with posting your product on these sites, dealing with buyers, payment, shipment, pick-up, re-listing if your product doesn’t sell, etc…then go for it. If not I highly recommend a good gold buyer. Their are some buyers out there who will pay you a fair amount for your old gold.
Good Luck!