Gold is over $4200 …. Where does this go??

[Rockdiamond]

Crazy town!!
A lot of stuff in our inventory was made when gold was under $1500.
I’m sure many other sellers are in similar positions.
Do you guys see a lot of sellers adjusting prices?

 

[empliau]

I've seen Kamoka, whose web page I love, switch from gold to gold-filled for many of the mid-range pieces.

I still want to know the magic in gold: for the consumer it's buy high, sell low. Although I haven't tried to sell the ring with the giant gold setting recently - maybe for scrap I could get something

 

[Rockdiamond]

maybe for scrap I could get something

Absolutely!!!!
A heavy gold piece purchased 20 years ago would bring a much higher price than what someone paid. Of course if they’d put the money in the stock market it might have grown quicker

 

[AllAboardTheBlingTrain]

The skyrocketing price of gold has put a serious squeeze on the jewellery market here - I was coincidentally having a chat with my jeweller about this only the other day. Because labour costs are low here, the price of gold is a huge part of the piece. While jewellers here are marking up the piece because of price of gold, they can’t always bring it all the way up to par - the sticker shock alone would stop people from buying. But definitely prices are up. I also asked my jeweller what it’s done for his business and he said that it’s been tough, because people rarely buy impulsively anymore. But he still does a brisk business for things like weddings because jewellery is such a huge part of the bridal tradition here.

Still, I see the amount of gold etc in those pieces come down too. Forget 22kt or even 18kt - now you see bridal/heavy jewellery made in 14kt, and in some cases I’ve seen even 10kt. It’s just unaffordable.

 

[empliau]

Absolutely!!!!
A heavy gold piece purchased 20 years ago would bring a much higher price than what someone paid. Of course if they’d put the money in the stock market it might have grown quicker

The ring is wide. I don't know what it weighs but it's marked 14k.


(Diamond stats for comparison.)


And of course the weird lonely epaulette diamond! My mother had some unique taste. No doubt my daughter will say the same about me someday...

 

[Bron357]

Crazy times.
The 18ct upper arm cuff I bought 20 years ago has a scrap value excluding the diamonds of A$12,500.

 

[MissGotRocks]

Crazy times.
The 18ct upper arm cuff I bought 20 years ago has a scrap value excluding the diamonds of A$12,500.

Are you going to sell it?

 

[nala]

Who thinks it will hit 5k by the end of the year?

 

[nala]

Absolutely!!!!
A heavy gold piece purchased 20 years ago would bring a much higher price than what someone paid. Of course if they’d put the money in the stock market it might have grown quicker

So do you think it is better to sell now than to wait for long-term gains?

 

[Rockdiamond]

So do you think it is better to sell now than to wait for long-term gains?

I think it depends on various factors. If a person needs the funds now for essential things that they can’t afford, probably makes sense to sell.
For people with a lot of other assets, this might make gold more attractive for them to hold onto and even buy more

 

[dk168]

I wish I had the foresight to stash away gold coins when I started my working life all those years ago!

DK

 

[stracci2000]

I have a handful of broken chains and single earrings that I was going to scrap a few months ago. I never did it. I'll be keeping it for now ....

I have watched the market since I was a teenager as I've always been interested in jewelry.
Back then it was around 400/troy oz.
I still have some of those flat herringbone chains that were so fashionable. I guess I'll start wearing them again!

 

[Gypsy]

Yeah. It is nutso. I took in some pieces I just didn't like. And when they gave me the total I was like.... wahhhhhhh???? TAKE THE MONEY AND RUN.

But for new pieces. I recommend filigree and other designs that are less metal heavy. and it's not surprising that we are seeing a resurgence of lapis, malachite and turquoise, etc. Because they cost little, give you a big look, and you can set them with minimal metal. I just replaced a center in an old necklace with malachite (picking up next weekend!) because I wanted a malachite piece and a new setting would have cost way too much.

So reuse, and recycle folks. Buy vintage pieces. Replace the gemstones, size them, whatever. Buy CZ pieces with real settings. Stick a natural or lab diamond in it instead.

Consider 12ct gold. Do you really NEED 14kt or 18kt right now???
Like these:
https://www.ebay.com/itm/405983567575 Replace those stones! The setting is pretty . So it's 9ct. That's part of its vintage charm and what is keeping the price reasonable. And you already know it was built to last. Maybe not the best example as that is a bezel setting so the bezel may have to be rebuilt. But you get my point. You can even take out the current bezel entirely and see if you get a large center in them.

I just bought a gorgeous antique locket. Gold filled. But it's beautiful, obviously the finish endured this long. And it didn't cost three arms and four legs.

A lot of pretty antique and vintage pieces are being sold just above melt value. Buy them and make them your own.

 

[Gypsy]

I realize this doesn't help the jewelers on here. But for buyers:

Look how pretty this shank is. It's 18kt. https://www.ebay.com/itm/116324600850

Have a jeweler laser that head off and replace it with whatever you want. You can make it two tone. You can do a custom head or basket. But that shank is lovely. And it will cost you a lot less than a new piece. Make it your own.

This one: https://www.ebay.com/itm/126787708592 Replace those gemstones with lab diamonds. Even better, it's calibrated. And you have a three stone trellis setting for 350. And it's a nice heavy one. Good polish and metal work.

Another nice shank: https://www.ebay.com/itm/1273497162...EFBTZF&hash=item1da6a2751a:g:oPsAAeSwZUJouG~H laser that off, have it engraved and change the head/basket out.

 

[Bron357]

Are you going to sell it?

Yes I’ve thought about as I don’t wear it anymore but I think it would be a travesty to melt it down.

 

[Bron357]

And even silver has gone up.
I’ve got an enormous antique Romanian flatware service in its glorious fitted box which I absolutely adore but also have absolutely no use for. Even at 800 silver it’s worth circa $A 8,000 in melt value. But again, I could never bear to have it melted down.

 

[MissGotRocks]

Yes I’ve thought about as I don’t wear it anymore but I think it would be a travesty to melt it down.

Is this something that you will pass down to your children or grandchildren? As long as someone else can enjoy it, there is value in keeping it.

 

[autumngems]

$$ Need to go through my armoires, so much I don't wear and daughter doesn't really like.

 

[maryjane04]

We start getting creative lol like this piece here from JbG:

Bracelet

 

[Mreader]

I have a handful of broken chains and single earrings that I was going to scrap a few months ago. I never did it. I'll be keeping it for now ....

I have watched the market since I was a teenager as I've always been interested in jewelry.
Back then it was around 400/troy oz.
I still have some of those flat herringbone chains that were so fashionable. I guess I'll start wearing them again!

Those styles always pinch my skin!!!
Good to you to hang on - I’m regretting selling a bracelet I had …

 

[Texas Leaguer]

Crazy town!!
A lot of stuff in our inventory was made when gold was under $1500.
I’m sure many other sellers are in similar positions.
Do you guys see a lot of sellers adjusting prices?

All the designer lines we carry have done price adjustments during this run-up.

Basically, like any cost factor, if you are not accounting for it then you end up not being able to replace your inventory. Which is fine if you are running a going out of business sale, but if you intend to stay in business your inventory has to be priced rationally according to current market.

 

[nala]

Apparently, it goes down! And rapidly!!