Ask Your Goldsmith:
Buying and Selling Jewellery

All jewelry has really two values! The first one is a sentimental value and the other a monetary one. So before you or your children sell your family jewellery or give it away, check it out with an appraiser or your trusted Goldsmith.

We at "West York Jewellers" do not buy or sell customers' jewelry. We wish to give our customers merely advice, on how to go about selling it and what things to watch out for! Many good jewellery items have being given away to second hand stores and antique stores, pawnshops, church bazaars or in garage sales.

Get all the items identified and evaluated, either by a qualified appraiser or by your personal Goldsmith!

There is a big difference between a Goldsmith and a jewelry store owner or staff! A Goldsmith (as a tradesperson) would in most cases, be able to do the same work and has the knowledge about the item . The Goldsmith would therefore have a very good idea of a replacement value of the item in question. Where at the jewellery store, the staff or the owner have only, in most cases, an idea of buying and selling - and the difference being their profit!

To sell a jewelry item to any store is little better than at a church bazaar or a garage sale! And that's putting it politely!

To sell your jewellery, it would be best for you to do it privately, after you get an updated written appraisal in your hands. It would bring you the most money. Do not advertise it with your phone number or address, for safety reasons! Tell your friends and colleagues about the item for sale, or leave it with a reputable jeweller on a consignment basis, selling it as "estate jewelry ." (You should be able to pick up your jewellery again at any open store time, if you wish to do so) The item is, and will remain, your property until you come to an agreement with the money you'll receive for it and you get paid in full. Get that part in writing! The store owners and staff should be able to tell you what percentage, after the sale of the jewelry item, they will withhold.

For a straight sale, if you are in need of some cash or you just want to get rid of the jewellery for your own reason, never ask the buyer (the owner of the store) what it is worth. Instead, ask them (if they are in the jewelry trade) how much they would charge you to have a similar item made. If you find out that part from a few stores you'll get a good idea of the value.

Then ask some others about trading the item in on a similar priced item with similar gold weight. That question alone will give you a little inside view of the storekeeper'ss integrity, honesty and their values to keep you happy and honor you as their customer.

All in all, it will be a human experience of the good, the bad and the ugly!

Hopefully I have helped some innocent people out before they become the victims of life in the big city and have sold their parents' or grandparents' fine gold jewellery for a song! As I said at the beginning - check your jewelry out first with a goldsmith or an appraiser, before you give it away!

When buying Jewellery! People who consider the price only, are at the mercy of merchants, who do not understand the quality of materials nor workmanship of the items themselves and therefore these price conscious buyers become his prey. Written by Hartmut Reinsch Goldsmith & Poet © 1995 Toronto

After my article above, with some good advice, I would like to add that selling jewelry can even be more tricky than buying it, because you will be at the mercy of the buyers! In some cases they have no conscience or any moral values or humility. Because money and profit rule the world... and he who has the most money and gold makes all the rules!

If you do not need to sell your jewellery then don't! Period. You can always have new jewelry made out of scrap and broken gold pieces.

Warning:
If you're planning to sell your Gold!
UPDATE,  March 2010!

A lot of people are trying to buy your Gold and Diamond Jewellery these days,
on the WWW and through local area Advertising...!
They are looking out, to make about 300% profit or more on the Gold alone,
all for themselves, when they take their cheaply bought up Gold scrap
to their Gold Refiners, as they cash in on the fine gold after refining.

It's very easy money and a form of liquid cash for them, and much more profitable, than trying to sell any item of value to the public,
as many people are hurting these days, because of loss of jobs
and devalued paper money, as all items in stores keep going up!

Things could not get any easier for all these Gold and Jewellery Buyers,
especially since most of them are paying the lowest possible price for GOLD and therefore,  there is hardly any competition amongst these Buyers.
The ones with the most exposer trough advertising, draw the most people into their outlets.
Things could not get much tougher for the rest of any hard working person these days, trying to make ends meet every month.
Some people get desperate and decide to sell their precious metal Jewellery or broken Gold. as scrap.
After these Buyers take in the Gold Jewellery and Scrap Gold,
all Diamonds and precious stones are getting pulled out
of their Gold and precious metal Settings course,
to bring them an even larger profit

That is a sign alone..., that GOLD and other Precious Metals, Diamonds
and all precious Stones  are going to be much higher in the near Future.
These "early Buyers of Gold" and other precious metal and stone items are ready now and in full force to buy up everything, before all goes much higher...,
as our paper money becomes even less in value every day.

My Advice would be...
KEEP YOUR VALUABLE GOLD JEWELLERY FOR NOW!
Cut down, on buying unnecessary items in large box stores.

Your Gold Jewellery Items, might be one of the only liquid Capital items you own.
So keep them, for things could get worse yet,
as History seems to repeat itself!

Do not sell your Jewellery or old scrap Gold to any of these Buyers, 
who are sprouting up and coming out of the woodwork lately.
The price of Gold will probably go much higher yet in the upcoming FUTURE !

"So beware and let nobody sweet talk you,
into selling any of your Gold or Diamond Jewellery to them.
Certainly, do not part with and give away your Ancestors Family Heirloom !
It should belong to the next Generation of your Family.

Check out, what hand made Jewellery Items I could make from your "Scrap Gold pieces", for a very reasonable labor charge, by working with your Gold only

Hand made Jewellery, for a very affordable price,
 "Made in CANADA",
by your own personal Goldsmith.
Have your Scrap Gold reworked into new handmade Jewellery
for yourself or your Family!

The expressed Opinion in this article, is my own
and "without any prejudice!"

Sincere Greetings from Goldsmith
Hartmut Reinsch ©
in Toronto / CANADA


*PS*...
Do you know, who your friends are?
Certainly they're not the ones, who invite you and their other friends
and neighbors for a very trendy "Gold Party!", these days.
As these so called friends share the Profit with these ever so popular
"Gold BUYERS!"
Just stop and think about it!

For more information, please read my other articles about
#1 Buying and Selling Jewellery,
#2 About Old Gold
and
#3 Have Your Old Gold Reworked Into New Hand Made Jewelry!

Have a Question? Get the Answer! info@westyorkjewellers.com

Sincerely,

Hartmut Reinsch
President
West York Jewellers
January 2003