Selling Gold Jewelry: Tips & Guide

San Diego Jewelry Buyers (SDJB) has published a new guide for consumers looking to sell their gold. Titled “Selling Gold Jewelry: Top 10 Consumer Tips,” the article is the newest addition to SDJB’s online Knowledge portal. This consumer information center includes guides and tips for selling diamonds, estate jewelry, and gold items, as well as how to use these precious assets for private collateral cash loans that require no credit checks and do not put the consumer’s credit rating at risk. Read more

Save My San Diego Pawn Shop

The Macon County News has just reported on a situation that concerns pawn shops in every state and the people these pawn shops serve. What is causing all the concern, and indeed anger, is U.S. Senate Bill 500, which would virtually wipe out the pawn business. Read more

Tiffany & Co.

Tiffany & Co. is one jewelry firm that really needs no introduction. Founded by Charles Lewis Tiffany and Teddy Young in New York City in 1837 as a “stationery and fancy goods emporium” the company has truly achieved iconic status.

Tiffany’s flagship store (since 1940) is located at the corner of Fifth Avenue and 57th Street in Manhattan, New York City. The polished granite exterior is well known for its tiny window displays, and a 128.54 carats (25.71 g) Fancy Yellow Tiffany Diamond usually is on display the store. Tiffany’s has been used as a location in a number of films including Breakfast at Tiffany’s, starring Audrey Hepburn, and Sweet Home Alabama, starring Reese Witherspoon.

Tiffany designs have been worn by such famous US families as the Astors, the Vanderbilts, Posts, Huttons, and the Morgans. Athletes, Hollywood stars, and even European royalty have long sought after Tiffany jewelry and diamonds. Museums valued the Tiffany designs, which ranged from the Art Nouveau period to Art Deco to today’s modern styles.

Indicative of its status as a jewelry industry leader, it was a Tiffany’s gemologist who was instrumental in the international adoption of the metric carat as a weight standard for gems, and the Tiffany standard for sterling and platinum have been adopted as United States Standards.

Although most often associated with diamond jewelry, Tiffany & Co. created spin off chain Iridesse in 2005. This new line is dedicated to pearl-only jewelry. Tifanny is also well known for its sterling silver jewelry, some pieces which are engraved with the address of the store.

Because Tiffany is such a sought after jewelry brand, there are many pieces of fake Tiffany jewelry on the market today. Be very careful whenever buying used Tiffany jewelry, making sure that the seller is a trusted source. Ask for the original Tiffany paperwork to ensure authenticity. And if you should want to sell Tiffany jewelry, be sure to go to a professional jewelry buyer who specializes in branded jewelry—otherwise you might just be offered the melt-down price for your Tiffany ring, necklace, bracelet, or earring.

Rolex Sets Record

National Jeweler has published an article covering the sale of watches and memorabilia from the late Steve McQueen, the legendary actor who rose to fame during the 1960s in films such as Bullitt and The Great Escape. The McQeen stash was among the pieces that inspired serious bidding at Antiquorum’s summer auction in New York City.

The June 11 auction brought in a total of $5,706,324, reports National Jeweler, with McQueen’s vintage Rolex, Ref. 5512, fetching an impressive $234,000, which was twenty times its estimate and a world record for that reference.

A total of 81 percent of the 416 timepieces in the summer auction were sold by lot and 122 percent were sold by value. Bids came in from across the globe, including from Hong Kong, Taiwan, Italy, Germany, France and Romania. In addition to the telephone, room and commission bidders, 478 bidders competed via the Internet.

Among the additional McQueen pieces featured in the sale were the actor’s Scott Super Squirrel motorcycle painted by Von Dutch, which sold for $276,000, double its estimate, and the Heuer “Monaco” he wore in the 1971 racing film Le Mans, which sold for a world record $87,600.

Other watches that sold for impressive amounts included Patek Philippe’s rose gold Ref. 5004 and pink gold Ref. 5970, which sold for $252,000 and $132,000, respectively, as well as Patek’s “Limited Edition Annual Calendar with Silicon Escape Wheel,” Ref. 5250G, which fetched a record $138,000.

Rolex’s “Double Red Sea Dweller,” retailed by Cartier, sold for $91,200, and Ref. 6239, a stainless steel “Paul Newman Daytona” attained $84,000, while the “Pro-Hunter Black-Carbon Daytona” sold for $42,000.

In addition, A. Lange and Sohne’s “Pour Le Merite” sold for $156,000, and Jaeger-LeCoulte’s “Platinum Master Minute Repeater,” sold for $126,000.

Worst Ways to Buy Gold

Investor’s Chronicle (IC) has just published an article that San Diegans who are interested in buying gold as an investment. The IC reports that gold’s status as a safe haven in bad times has seen an unprecedented rise in popularity, with the World Gold Council recently reporting a 248 percent increase in the investment demand for gold, compared to the same period last year.

If you are thinking of buying gold in San Diego, experts warn that you must take care because physical gold is not a regulated investment market. So while lots of people think they should be buying gold, they don’t recognize that there are bad ways to buy the metal. According to the IC report, 3 of the worst ways to buy gold are:

1. Online auction sites: While this might seem obvious, eBay has seen a surge in gold-coin auctions as demand for physical metal has grown. The prices on online auction houses often out-strip true gold-market values – known as the “spot” gold price – by 25 per cent even for the plainest coins. Rarer gold coins are often bid up much higher, as new investors lack knowledge about what they are buying.

2. Newly minted “collectible” coins: So-called collectible gold coins can cost significantly more than the actual value of the gold they contain. Mints often charge 40% or more above the gold market value for these gold coins.

3. “Rare” gold coins: US authorities often warn investors against “hard-sell” dealers charging rip-off fees for what turn out to be anything but rare gold coins. Spotting a truly rare coin and knowing how much above the gold-content’s value it should cost takes experience and expertise. Take the time to build your knowledge and understanding before venturing into this market.