Ask Your Goldsmith:
Jewellery on Consignment - Part 2

"Hello,

I enjoyed reading your article about selling jewellery. I was wondering what the best avenue was.

I know you indicated you do not buy or sell customers jewellery, but do you do any consignment sales (assuming that is different)?

I have a beautiful men's and women's wedding ring set in diamonds and blue sapphires. There are 3 pieces, lady's engagement ring and a matching wedding band/closet? (not a complete band, it snaps in placeover the engagement ring). The man's band matches with 3 stones (one being a sapphire the other 2 diamonds) in 14 kt gold. The man's ring and wedding band was never used. The engagement ring was worn only for family gatherings. I have had an appraisal done on them (for insurance). That was about 3 to 4 years, but that should not vary it too much (?). If you do not do consignment agreements, do you know someone that you would recommend.

Stephen


Hi Stephen,

Thank you for your email!

You understood right - I do not buy customers jewellery!

You would have to find a store that takes in jewellery on consignment! They appraise it themselves again and take a percentage when sold and give you the rest! Or they take most and give you a percentage.

That's what you have to find out first! What their % cut is. Stay with the larger name stores in the shopping malls! They have the traffic and are set to stay for a while. Do not leave it with fly "by day and night FLEA market" places!

Good luck and I hope you follow my good intended advice!

Your personal goldsmith to be (I hope!)
Hartmut Reinsch
Goldsmith of West york Jewellers
Toronto / CANADA
416 781-3998

For more information, please read my other articles about Buying and Selling Jewellery, About Old Gold and Taking Care of Your Jewellery.

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

Sincerely,

Hartmut Reinsch
President
West York Jewellers
January 2003






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!