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Are any of you Scavengers experienced with selling gold on eBay? I found several small pieces of gold jewelry at a sale this morning, and I’m trying to decide how I can get the most value out of it. It’s not “scrap” in that it’s not broken or anything, but nothing I’m crazy about. Mostly lightweight chains. I was headed to the jewelry store after the sale anyway for some repairs on a ring, so I took it with me. It’s a higher end store and I very much trust them. They said that I can trade the gold in for a credit towards the repair and I would get a little over $90 as scrap (they don’t buy jewelry for resale). But the guy then advised me that I should really keep the heaviest chain, as it’s probably a $300-400 chain if you were to go buy it. Nice! Anyway, I don’t think I’ll ever wear it so I’d like to sell it, but I’m not sure how to go about pricing it and making sure I don’t get scammed. Do you generally just sell based on the weight alone? It’s a nice chain, but nothing fancy. I only paid $4 for all of it, so I’m doing well so far!
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I know, it was quite a deal! All the jewelry was in baggies for $1 each, mixed in with costume jewelry. I think it may have been a family-run sale, so maybe they just didn’t know. I have a few other pieces at home that I’ve found at yard sales, so hopefully I can turn it into some $$!
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Prices for scrap gold vary greatly from jeweler to jeweler. Always best to know the value yourself. Suggest weighing it to .1 gram and using goldcalc.com to get 100 percent scrap value. Whoever you sell it to will not pay 100 percent scrap. You should be able to get 60 to 70 percent by visiting other jewelers and gold dealers in your area. If you don’t have an accurate scale just ask the dealer to give you gram weight. Note different kt needs weighed separately as 10k value is lower than 18k…
Selling gold on ebay may get you more but also has risk.
FYI I deal in a lot of vintage jewelry (mostly costume).
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This is good advice. There’s definitely a known market that pegs the price of gold scrap at any specific time.
But there are guys who buy gold to hedge their money in case of inflation, zombie apocalypse, etc. They may pay higher just because they’re hoarding expecting the price to go up later.
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In the UK, gold is VAT-free (Value Added Tax) but silver isn’t. With the VAT at 20% this gives an advantage to the private seller on eBay. So I’ve been told…
As to scrap gold and silver, I got £50 for 6 grams of 9K recently. That particular jeweller buys scrap sterling silver, but the processing is (for him) problematic. He can only melt small quantities, then pass them on to someone else who for a fee makes a larger bar which then for a further fee is assayed officially. Purity works out at about 85% due to lead solder etc.
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