Ask Your Goldsmith:
Advice for Selling Personal Jewellery

"Mr. Reinsch,

I was visiting your web site and read that you offer advice for people who want to sell their jewelry.

I have a diamond ring (1.27 kt solitaire) appraised approx. 10 years ago at $7,700 and a jade necklace at a $1,000. I would like to sell them both but I am not sure what would be the best approach. Plus I know I would need an updated appraisal.

Do you do appraisal? If you don't do appraisal, perhaps you can give me a name.

Also I was hoping you could take a look at the items and give me your opinion concerning what I should do. I thought I would ask first instead of coming directly to your store.I look forward to your reply. Thank you.

Carole


Hi Carole,

Thank you for your Inquiry and the confidence you have in me to answer your important questions!

Our Appraiser is Donald Mackay, at 21 Dundas Square (416-363-7073). He is the most knowledgeable and very honest appraiser we have run into in the last 40 years!

What quality is the solitaire? You forgot to mention. If you tell me that, I will find out my cost to buy from the importers, so you will see where you stand to sell it to other stores or dealers or privately.

Best would always be to sell it private, for at least the jewellers' cost or slightly more. The generous jewelers would give you at MOST half of what their cost is.

I do not buy jewellery from people, I only give you straight advice! So look up your appraisal and even if it's an old one, it would give you the exact quality from that last appraiser. Then I can find out the true cost to me or any other jeweller. The importer makes another 30% on me as manufacturer and even more on the retailers. And when you bring the item to a pawnbroker, they will give you generously 10 cents on the dollar,if they made enough for the day on others already!

I just give you advice, because I would like you to know at least one goldsmith who is not interested in taking jewellery in for next to nothing from people who are ignorant of the facts or hard up for money due to circumstances and problems in their life! I like to at least help and be somewhat of a samaritan.

Greetings from
Hartmut

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!