Gold ring

[nelisky]

So this is a ring I found a few years ago, and has been sitting around. It is quite big, there is no shininess about it but I'm pretty sure it's gold In the pictures below you can see it and the inscription on the inside which, as far as I can make out, says '750' '18k'. I don't have a precision scale but on the kitchen digital scale, which should be good to the gram, it weights 10g.

I will sell to the highest bid, postage included in the bid please. I can send it registered for about 35btc, so why don't we start there? I have absolutely no idea how much the ring is worth, so if you are knowledgeable on this, you might get yourself a sweet deal!

[nelisky]

When does the auction end

When the bids stop? Say 24h without any bids? Or would you rather have a specific date, or even a block like that new trend?

[nelisky]

http://btco.in/2s is a gold calculator for scrap gold, based on the carats. 18k in the US is typically 75% pure, meaning the .750 should be it's purity. Can you do some tests for us to insure it is gold and not a chinese fake?

Time frame... you're the auctioneer, set it how you would like, but it would be nice to have some idea, even if it is block 90,000 that's better than an open ended, I'll end it when it's high enough.

Wow, and here I was questioning if it was worth the shipping What kind of tests should I do? Do I need to take it to a jewelry store and ask, or is there something I can do at home?

As for the end, you seem to be the only immediately interested party... how about till next Tuesday, noon GMT? I'll have to hit the post office that afternoon so it seems like a good target.

[grondilu]

100 BTC if it's ok to send to France.

[grondilu]

Honnestly I don't understand you guys.  When I buy or sell something, I don't really care much about the spot price.

If I sell something, it's because I need money.  I don't want to spend time and effort to make sure I get the best possible deal.

If I buy something, it's because I want to own it.  I give whatever price the seller is asking, if I can afford it and if my desire to get the thing overcomes my reluctance of losing the required amount of money.


The spot price is only valid in a short period of time.  If you don't intend to sell back or buy back during this time frame, the spot price doesn't matter much.

[nelisky]

Honnestly I don't understand you guys.  When I buy or sell something, I don't really care much about the spot price.

If I sell something, it's because I need money.  I don't want to spend time and effort to make sure I get the best possible deal.

If I buy something, it's because I want to own it.  I give whatever price the seller is asking, if I can afford it and if my desire to get the thing overcomes my reluctance of losing the required amount of money.


The spot price is only valid in a short period of time.  If you don't intend to sell back or buy back during this time frame, the spot price doesn't matter much.

I believe that was just for my own advantage, as I explained that I had absolutely no clue as to the worth of this ring. I appreciate the information, but that doesn't change the fact that this ring has no value to me other than getting some coins for it. I wouldn't sell it for money, as the simple effort of going to a pawn shop would offset any profit I'd make out of it, but here I can add a little bit to the btc ecosystem *and* gain a few coins.

Highest bidder takes it, I don't have any reserve price whatsoever other than making sure I don't loose money when mailing it and France is ok, as is any other country that the post office will ship to.

[grondilu]

Highest bidder takes it, I don't have any reserve price whatsoever other than making sure I don't loose money when mailing it and France is ok, as is any other country that the post office will ship to.

Ok, good.  I confirm my intention to buy your ring for 100 BTC then.

It would be nice if you could decide a deadline for the auction, though.

[TTBit]

Someone let me know if my math is not correct...

10grams ~ 0.32 troy ounces.
18k means 75% gold.
Gold is ~1340 per ozt USD.

1340 x .32 x .75 about $321 worth of gold.

I can't say I really want it, so I'll bid 1/3rd of the metal value, about $107 USD. 107/0.19 exchange rate =

563 bitcoins, shipping included to USA. This is my bid, good through NOV 2.

[nanaimogold]

http://btco.in/2s is a gold calculator for scrap gold, based on the carats. 18k in the US is typically 75% pure, meaning the .750 should be it's purity. Can you do some tests for us to insure it is gold and not a chinese fake?

Time frame... you're the auctioneer, set it how you would like, but it would be nice to have some idea, even if it is block 90,000 that's better than an open ended, I'll end it when it's high enough.

>18k in the US is typically 75% pure

And not in the US is just sea monsters like those old maps.

[ribuck]

I must say the photo looks exactly like those chunky "gold" rings that the gypsies use for their gold ring scams in Paris. (The photo in that linked article is not of the actual scam ring).

So the price people bid should definitely depend on how confident they are that this ring is made of gold.

[nelisky]

I must say the photo looks exactly like those chunky "gold" rings that the gypsies use for their gold ring scams in Paris. (The photo in that linked article is not of the actual scam ring).

So the price people bid should definitely depend on how confident they are that this ring is made of gold.

Well, I actually found it on the ground, though not in Paris. But the description fits that bill perfectly, it is too big even for me, and I'm not the smallish type. So all bids are off until I get this analysed, ok?

[TTBit]

http://justmeinparis.blogspot.com/
May 3 2007

Looks like the ring. Yeah, my bid is off.

[nelisky]

http://justmeinparis.blogspot.com/
May 3 2007

Looks like the ring. Yeah, my bid is off.

That is exactly like my ring! Well, I guess I almost scammed someone Great catch, ribuck, thanks for saving me the awkward situation.