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How does a pawn shop give prices on gold jewelry?
#11
(01-26-2018, 06:52 AM)kaisantos2229 Wrote:
(01-26-2018, 06:10 AM)aecel Wrote:
(01-25-2018, 10:00 AM)kaisantos2229 Wrote: aecelIs it true that if you're going to pawn your gold jewelry they will scratch it a bit so they will know how much worth it? I have no idea how they measure the karat. Do you have any ideas? How much can they give the price in every karat?

Yes they will scratch your jewelry for nitric acid testing to determine the authenticity and the karat of your jewelry. If there's no chemical reaction then it's authentic but if it produce a ( when it turns green) chemical reaction then it's fake. After testing your jewelry, the pawn shop appraiser will appraise the value of you jewelry. Now remember pawn shop is a business, the appraiser will not offer you the true value of your jewelry instead the appraiser will only offer you either 60% or 70% (depending on the pawnshop) of it's true value. Some piece of advice,  before pawning your jewelry it's better to get an idea first on the true value of your jewelry and then try to visit different pawn shops so that you can choose who has the highest appraisal rate.

Every made jewelry has a hallmark that values the karat of a certain jewelry. It is an engraved stamp of codes that reads 10k, 14k, 18k, 22k, ,24k, 417, 585 or 750 which is usually found on locks or on the back side of your ring or solid bracelet. Now, if your jewelry has no hallmark indicating the karat of your gold jewelry then you have to buy a gold testing kit. The most common type of gold testing kit includes a small bottle with nitric acid and a testing stone then just follow the instructed process and you will see the result.

Now, how to calculate the value of your gold jewelry? You will need 3 pieces of information, the karat of the gold, the weight of the gold and the value of the gold in the world market. But in most cases if your jewelry is made by famous jeweler or it is a designer brand, then value of your jewelry will rise up. I hope this will help you so good luck.

Wow, thanks for this detailed informations. Thank you for explaining it well. One more question, if they scratch the jewelry, it wouldn't affect the quality of the items?

Definitely yes, it will affect the quality but it won't affect the value. Gold is gold, whatever form it is the gold's value will remain the same. But don't expect standard price for gold, because the gold's price on the world market is always changing. So if you are planing to pawn your jewelry be sure that the gold's price is on it's highest so that you can get a higher price for your jewelry.

My friend told me that gold jewelry is a good investment it never depreciates the value it's getting higher every year. She always pawned her gold jewelry if she needed a money and she observed that the value of her gold appreciates every year.
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#12
(01-25-2018, 05:03 AM)aecel Wrote: Is it true that if you're going to pawn your gold jewelry they will scratch it a bit so they will know how much worth it? I have no idea how they measure the karat. Do you have any ideas? How much can they give the price in every karat?

Yeah, they scratch it to know if its genuine or fake but I don't know if they scratch it to know the price.
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#13
(01-26-2018, 09:14 AM)kgord Wrote: I have sold gold jewlery in the past but not to a pawnshop. I have found the price for your gold varies a great deal so it is best to shop around for different gold buy back programs to get the highest price for your gold. It helps very much I think to do this.
Yes you are correct and it's not a good idea to sell your jewelry on a pawnshop (that's if you want to sell your jewelry) because they will not pay you the right price for your jewelry. If you are not in a hurry to sell your jewelry then it's better to wait for gold's price to go high.
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#14
(01-26-2018, 02:06 AM)Heart Wrote: Mine were priced per gram. I am not sure how many times I had pawned a jewelry since its kind a my business. I bought jewels on countries that golds are cheaper then bring it to my country, I'll wait whenever the price of golds are increasing so I can pawn it to a pawnshop. I mostly gets a higher appraisal rate, than its original price when I bought it so its a great investment.

Wow, what a great and easy way to make money! Do you mind sharing what countries you buy the gold from? Are they easy and safe to travel to? I'm thinking of starting the same business.  Big Grin Big Grin
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#15
(01-25-2018, 10:00 AM)kaisantos2229 Wrote: aecelIs it true that if you're going to pawn your gold jewelry they will scratch it a bit so they will know how much worth it? I have no idea how they measure the karat. Do you have any ideas? How much can they give the price in every karat?

Yes they will scratch your jewelry for nitric acid testing to determine the authenticity and the karat of your jewelry. If there's no chemical reaction then it's authentic but if it produce a ( when it turns green) chemical reaction then it's fake. After testing your jewelry, the pawn shop appraiser will appraise the value of you jewelry. Now remember pawn shop is a business, the appraiser will not offer you the true value of your jewelry instead the appraiser will only offer you either 60% or 70% (depending on the pawnshop) of it's true value. Some piece of advice,  before pawning your jewelry it's better to get an idea first on the true value of your jewelry and then try to visit different pawn shops so that you can choose who has the highest appraisal rate.

Every made jewelry has a hallmark that values the karat of a certain jewelry. It is an engraved stamp of codes that reads 10k, 14k, 18k, 22k, ,24k, 417, 585 or 750 which is usually found on locks or on the back side of your ring or solid bracelet. Now, if your jewelry has no hallmark indicating the karat of your gold jewelry then you have to buy a gold testing kit. The most common type of gold testing kit includes a small bottle with nitric acid and a testing stone then just follow the instructed process and you will see the result.

Now, how to calculate the value of your gold jewelry? You will need 3 pieces of information, the karat of the gold, the weight of the gold and the value of the gold in the world market. But in most cases if your jewelry is made by famous jeweler or it is a designer brand, then value of your jewelry will rise up. I hope this will help you so good luck.

This is actually what I have in mind to say about how the pawn shop get the test the authenticity as well as the value of each grocery that will be pawned at the pawn shop. It is quite a long process that I sometimes feel there is no need for me to get that serious with getting loans and money through that means as well. 
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#16
Will for me use pawnguru to know the price of your jewelries.

When you sell or pawn a piece of used jewelry such as a ring, watch or necklace, you want to make sure you’re getting the best price. This is where PawnGuru comes in.

At PawnGuru, we help you determine how much pawn shops pay for your jewelry by giving you a free online space to list your jewelry for sale. Pawn shops in your local area will see the ad, and they will send you quick cash offers online. This completely cuts out the hassle involved with collecting offers from various pawn shops and ensures you get the best offer possible, quickly.
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#17
It really depends on the pawnshop. But if you want to get the highest appraisal, just look into others and compare their offer for your jewelry. The problem is, or i don't know if its a problem, they do always scratch your jewelry in every pawnshops. I dont know if it will ruin your gold in the long run or if you regularly pawn your jewelry.
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#18
(01-27-2018, 04:55 PM)aecel Wrote:
(01-26-2018, 06:52 AM)kaisantos2229 Wrote:
(01-26-2018, 06:10 AM)aecel Wrote:
(01-25-2018, 10:00 AM)kaisantos2229 Wrote: aecelIs it true that if you're going to pawn your gold jewelry they will scratch it a bit so they will know how much worth it? I have no idea how they measure the karat. Do you have any ideas? How much can they give the price in every karat?

Yes they will scratch your jewelry for nitric acid testing to determine the authenticity and the karat of your jewelry. If there's no chemical reaction then it's authentic but if it produce a ( when it turns green) chemical reaction then it's fake. After testing your jewelry, the pawn shop appraiser will appraise the value of you jewelry. Now remember pawn shop is a business, the appraiser will not offer you the true value of your jewelry instead the appraiser will only offer you either 60% or 70% (depending on the pawnshop) of it's true value. Some piece of advice,  before pawning your jewelry it's better to get an idea first on the true value of your jewelry and then try to visit different pawn shops so that you can choose who has the highest appraisal rate.

Every made jewelry has a hallmark that values the karat of a certain jewelry. It is an engraved stamp of codes that reads 10k, 14k, 18k, 22k, ,24k, 417, 585 or 750 which is usually found on locks or on the back side of your ring or solid bracelet. Now, if your jewelry has no hallmark indicating the karat of your gold jewelry then you have to buy a gold testing kit. The most common type of gold testing kit includes a small bottle with nitric acid and a testing stone then just follow the instructed process and you will see the result.

Now, how to calculate the value of your gold jewelry? You will need 3 pieces of information, the karat of the gold, the weight of the gold and the value of the gold in the world market. But in most cases if your jewelry is made by famous jeweler or it is a designer brand, then value of your jewelry will rise up. I hope this will help you so good luck.

Wow, thanks for this detailed informations. Thank you for explaining it well. One more question, if they scratch the jewelry, it wouldn't affect the quality of the items?

Definitely yes, it will affect the quality but it won't affect the value. Gold is gold, whatever form it is the gold's value will remain the same. But don't expect standard price for gold, because the gold's price on the world market is always changing. So if you are planing to pawn your jewelry be sure that the gold's price is on it's highest so that you can get a higher price for your jewelry.

My friend told me that gold jewelry is a good investment it never depreciates the value it's getting higher every year. She always pawned her gold jewelry if she needed a money and she observed that the value of her gold appreciates every year.

That's not totally accurate actually, I am not saying your friend is wrong but i've seen gold prices depreciates in the market specially if the  global market demand for gold is low. I am also a jewelry collector and before I buy a piece of jewelry, I would want to know first if the golds value is low so that I can buy it for a low price. Maybe what your friend is trying to imply is, when a particular jewelry has a significant value then that could have cause it's price to go up. For example, a jewelry that was owned by a famous late century king or anything that has importance in human history. I will include a link here for reference, this link will show you the actual price of gold in the market.

https://goldprice.org/
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#19
(01-25-2018, 05:03 AM)aecel Wrote: Is it true that if you're going to pawn your gold jewelry they will scratch it a bit so they will know how much worth it? I have no idea how they measure the karat. Do you have any ideas? How much can they give the price in every karat?

You are wrong my friend. The reason why they are rubbing it on other stone which what you called scartching is for them to determine whether the gold you are pawning is genuine or not. Once it is verified, they will now weigh it and appraise it per gram. It has also an exchange value like in forex. I'm just not sure what is the current value per gram today.
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#20
The price of the jewerly is depends on the height and weight of the jewel per grams.
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