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June 22, 2013, 05:55:34 PM |
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Jewelry selling above retail price 7 years after purchase from a private owner is going to be the longest stretch of sale I've ever seen. I buy precious metals on a daily basis. This is probably a nice piece, don't get me wrong. Mark up on jewelry from a retail shop is 800%-1,000% of melt value of the item. Melt = Spot Price $1,300 / 31.1(troy oz) =$41.XX for one gram of 24K gold. 14k gold is 58.5% gold content. The rest is alloy. So $41.XX x .585 = $24/gram aprox. gold worth of this item. $24 x 10 grams = $240
Diamonds under half of a carat(less than 50 points) are worth around 20 cents to 60 cents a point on the market. Once 1/2 carat or more is achieved, Diamond value increases into the $100's and $1,000s. My educated guess would be that the bracelet contains aprox. 4.5-5 Carats total worth of diamonds, or 450/500 points. To be fair, 500 x .60 =$300
With a total wholesale worth of aprox. $540.00, the retail on this bracelet should be no more than an enormous 1,200% markup = $6,480.
1,000% = $5,400
800% = $4,320
If you do have a local offer for $6,000 , JUMP, RUN, & SWIM if you have to. $6,000 is a very, very good offer. Especially considering if you were to take it to a gold buyer; Be it a jeweler or melt buyer(hint:jewelers often buy at melt just as everyone else, and sometimes pay less than regular gold buyers such as myself.)
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