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How to Sell Gold & Avoid San Diego Gold Buyer Scams

December 3, 2010 by Administrator · Leave a Comment 

If you want to sell gold or diamond jewelry to a San Diego buyer of used gift assets, then the following media special reports can help you make a more informed decision. There are many gold scams around these days, with unscrupulous gold buyers and other businesses trying to take advantage of the public. Don’t get caught in one of these scams. They are easy to identify if you just take the time to learn their tricks. Likewise, an ethical San Diego gold jewelry buyer or gold refinery is also easy to spot if you know what signs and behavior to look for. After watching the following videos and reading the tips here at the San Diego Luxury Pawn Shop Report, you should be confident that you can avoid getting caught in a San Diego scam when selling your scrap gold, gold rings, and other gold jewelry.

In this video, reporter Sasha Foo of KUSI TV interviews Carl Blackburn of San Diego Jewelry Buyers. Blackburn, an internationally recognized fine jewelry designer and prominent buyer of precious gift assets in San Diego, gives San Diegans advice on how to avoid gold scams. Ms. Foo also discusses the problems that have been documented by the Better Business Bureau when it comes to mailing in your gold to a nationally advertised gold buyer. She also emphasizes how consumers should not sell gemstone gold jewelry to just any gold buyer but one who specializes in buying second-hand jewelry set with diamonds or other precious gemstones.

The CBS Early Show tackles the issue of how to sell your gold without getting scammed in this special report that should be viewed by anyone who wants to sell gold in San Diego. Conducted by correspondent Susan Koeppen, the report mentions how thousands of people around the country have lodged complaints with the Better Business Bureau and State Consumer Affairs Departments. They investigate the allegations of rip offs by trying to sell a gold ring to three different kinds of buyers: a mail-in company, a gold party, and a local gold buyer in New York City. The results are very informative. Note that in this video that gold was selling at over $900 an ounce, which was driving more people to cashing in their gold. Today, the price is over $1300 an ounce, sending even more people into the offices of San Diego gold buyers or posting their gold to a mail-in gold buyer. But not all gold buyers are the same, as this report shows well.

In this WBAL TV report the news team investigates whether you can really make big bucks when selling used gold jewelry. The hidden camera investigation of gold buyers in Maryland shows that, like in San Diego, it all depends on who you ask. Choosing the best gold buyer in whatever area you live could mean a difference of hundreds of dollars. Not surprisingly, the team discovers that the best offer comes from a local luxury pawnbroker that specializes in buying fine jewelry, while the lowest offer comes from a mail-in gold company. The key advice here is to know exactly what you’re selling before looking for a gold buyer.

For more tips on how to sell gold in San Diego and how to choose the best buyer for your diamonds, designer handbags, Rolex watches, and other luxury gift assets, please check out the San Diego Luxury Pawn Shop Report links below. Better knowledge means making better decisions and getting more of the cash you deserve.

Quick Tips: Getting Cash for Your Gold Bling

August 5, 2009 by Administrator · Leave a Comment 

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Cash for gold isn’t just a hot trend in San Diego. Shoppers around the country have been trading in their gold bling for quick cash. In an article recently published by The Denver Post, the newspaper lists the following tips for when selling your gold jewelry:

—Unless the piece is of a high-quality maker, such as Cartier or Tiffany’s, you’re looking at scrap gold pricing. Forget what you paid for it.

—Remove gemstones from your gold jewelry unless they’re too small to sell separately.

—Know the price of gold the day you’re going out to sell. The New York gold markets close at 1 p.m. Pacific time, so sell your gold in the afternoon.

—Weigh your gold jewelry in bulk. Keep similar karat gold together. You might get a better price.

—Do the gold math. Know the 100 percent value to see if offers are fair to you.

—Get gold buying offers from several stores, whether jewelry or pawn shops.

—Avoid online gold buyers. Unless you’re selling in high volumes, you’ll not likely get a better price.

—Never let strangers view gold jewelry at your home. Consider a bank and safety deposit box for security.

—Walk away if you don’t like the gold buyer’s offer. Gold is constantly on the move.

A Question of Ethics

April 26, 2009 by Administrator · 1 Comment 

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In a recent issue of Instore Magazine, a regular must read publication for hundreds of jewelers across the country, the following scenario was depicted:

Several weeks after a jewelry buying event, Jimmy was delighted to see Sonia Carrell come into the store. She and her husband John had been coming to the island every year for as long as he could remember, right up till last year. Jimmy had heard from neighbors that the Carrells had decided to stay in Maryland last winter, and while he spotted John very briefly at the buying event, he never quite got around to saying hello. As he greeted Sonia, Jimmy noticed that she looked rather tired and worn out. He got the usual rundown when he asked about her college-age son, her older daughter and their beautiful granddaughter, but was taken aback when he asked, “So, where’s John today?” Sonia replied, “I have no idea — but if you see him, let me know so I can leave the island!” The expression on Jimmy’s face must have conveyed his surprise, because Sonia said, “Oh – I’m sorry. I guess you haven’t heard…” She proceeded to tell him about John’s affair with a young assistant at his law firm, and a very ugly divorce that dragged on for over a year. She said that the worst of it was that in the middle of all the fighting, someone had broken into her house and stolen all of her jewelry and several pieces of expensive art. She believed that John was behind it — as a way to get back at her for demanding a hefty settlement — but neither she nor the local police could prove anything. She said that while her insurance covered the financial end of the loss, the sentimental value of many of the jewelry items could never be replaced.

As soon as Sonia had pulled out of the parking lot, Jimmy went back through the receipts from the gold-buying events and felt his heart sink as he saw one with John Carrell’s name on it. He saw that one of his friends had taken care of John, who sold several gold bracelets, a couple single earrings, a pair of platinum wedding bands and a diamond fashion ring — for a total of $1,860. State law requires that merchandise bought over the counter remain in the store for a full 30 days before disposition, so Jimmy was able to look at the pieces in John’s envelope. Despite his sincere hope to the contrary, he was not surprised to find the envelope filled with pieces that he had sold to John over the years.

Jimmy double checked all the documentation and was relieved to find that the transaction was handled perfectly and every detail was in compliance with state and local regulations. Nonetheless, the whole thing left him with a queasy, uncomfortable feeling, believing that he had some sort of responsibility to Sonia — but not knowing exactly what to do about it.

THE BIG QUESTIONS: Should Jimmy get involved at all? Is his obligation to John — one of confidentiality and the discretion promised to all of his clients — or is it to Sonia — one of friendship and integrity? He knows for certain that the pieces were sold to John, but he has no way of knowing for sure that Sonia’s story is anything more than just her side of an ugly tale. Is he obligated to notify the local or Maryland police of his suspicion, or should he let the rest of the 30-day waiting period expire, then dispose of the items, along with all the rest?

It is our feeling here at The San Diego Luxury Pawn Shop Report that only one moral and ethical answer exists. If a jeweler, pawn shop, or jewelry buyer has ANY suspicion that the goods sold them were obtained fraudulently, then the police should be notified immediately. End of discussion.

Gold Buying Parties

March 25, 2009 by Administrator · Leave a Comment 

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National Jeweler reports that the tough economic times, in combination with high metal prices, have people around the country gathering at gold parties to sell their old gold jewelry.

Folks in the media have been comparing the gold-buying parties to recession-era Tupperware parties, resulting in cash for participants, who are choosing to clean out their jewelry boxes as the price of gold rises above $900 an ounce.

According to news reports, the parties begin with guests bringing unwanted jewelry, watches and coins to a host’s house. The host, with the help of companies that are mining the trend like MyGoldParty.com, the Gold Refinery and Nassau Buyers, then tests the gold content and weighs the items, and pays out a certain percentage to guests based on the price of gold that day.

A percentage also goes to the party host, the party representative and the refinery that eventually ends up with the gold and melts it down, according to news reports. In addition to much-needed money, the parties also provide a safe haven, and a social outlet, for consumers looking to cash in on high gold prices but unsure about entering a jewelry store.

According to an Associated Press report of a gold-buying party held in Granby, Conn., one participant said, “It’s terrific because it’s a little bit intimidating to think about walking into the jewelry store, even though they may be heavily advertising it, and, you know, to someone that you don’t know and turning over your valuables to them.”

While gold parties can indeed be fun, San Diego consumers should be aware that the buying offers you get at such parties will most likely be less than at a reputable San Diego gold buyer, since the person who is throwing the party is taking a percentage off the top, which means less cash in your pocket.

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If you decide that a gold buying party isn’t for you and you plan on approaching a San Diego gold buyer with your gold jewelry, then you want to be prepared. Before going to a potential buyer, read this article: 7 Questions to Ask Your Gold Buyer

More Folks Turning Gold Jewelry into Cash

February 25, 2009 by Administrator · Leave a Comment 

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More Californians are taking advantage of a jump in the price of gold to turn their old gold jewelry into cash, says the Santa Cruz Sentinel. The price of gold, which rose to $1,000 an ounce last February and March, then dropped to the mid-$900s, is back above $900 an ounce, sparking a gold rush.

The newspaper article mentions that Santa Cruz Pawn is the only licensed and bonded pawn shop in the city of Santa Cruz, and that it has been in business for more than 10 years, paying cash on the spot for jewelry that might be damaged, missing pieces or just not your style. Bruce Pedersen, owner of Watsonville Pawn, says that most people don’t know that they can come to a pawn shop to sell their gold jewelry. This is unfortunate, since Pedersen said that when he called the “cash for gold” phone number advertised on television, he got referred to another phone number, where he found the voice mail full and no longer taking messages.

Pederson also stated that the $900 per ounce advertised price quote is misleading because it applies only to pure 24-karat gold. Most gold jewelry is 10 karat or 14 karat, so it is worth less, he said. For example, 12 karat is 50 percent gold so the price could be $450 an ounce, half the rate for 24 karat gold.

Other advice worth remembering is that “if it’s gold over silver, it’s worth less,” says Michael Craig, owner of Monterey Bay Estate Jewelry and Antiques, explaining that silver is priced at $12 an ounce.

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While people of all walks of life are turning gold jewelry into cash, the opposite is true too. Many people are now turning cash into gold, seeing gold as one of the few secure investments in this volatile economy. To read about the cash to gold trend, go to this article: Record Sales for Gold Bullion and Coins.

iGavel.com Now Auctioning Vintage Jewelry & Watches

December 10, 2008 by Administrator · Leave a Comment 

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San Diego holiday shoppers should take note that iGavel (a leader in online auctions) is currently hosting an online jewelry auction. As we are now in a buyer’s market, iGavel has worked with many of its consigners to lower estimates and reserves in order to have a successful auction. Therefore, this is a great time to purchase jewelry at prices that are more reasonable than have been seen in years.

The auction includes a varied selection of vintage and designer jewelry. Recent highlights have included a 3 carat sapphire and diamond ring, estimated at $1,200-$1,800 with a starting bid of $800; a Diamond, Gold and Pearl Convertible Brooch or Pendant, estimated at $2,500-$3,500, with a starting bid of $1,800; and an Antique 14K White Gold, Emerald and Diamond Pierced Work Horizontal Brooch, with the emerald under 2 carats, and diamonds totaling close to four carats. This piece is estimated at $3,000-$5,000, with a starting bid of $1,995.

The watches included in the iGavel auction are often exceptional. Over the past ten days, items have included a Bovet, Fleurier, Enamel and Gold Open Face Key-wind Watch for the Chinese Market, 19th Century, estimated at $500-$700, with a starting bid of $250; a Gold and Enamel Keywind Watch, Just & Son, London, 19th Century, Estimated at $800-$1,200, with a starting bid of $500. Also included is a Gold Cartier Ladies Watch, Paris, late 20th century, from a private South American collector. This piece is estimated at $2,000-$3,000, with a starting bid of only $900.

Check out iGavel.com to see if these items are still up for auction, and to discover what other new jewelry and watches have been placed up for bidding.

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Shoppers in San Diego take note that a huge stash of gold coins, jewelry, and other gold items are soon going to be up for sale. Read the details about the auction at: Treasure Trove to be Auctioned.

Increased Demand for Platinum Jewelry in 2009?

November 25, 2008 by Administrator · Leave a Comment 

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According to a report from Johnson Matthey, demand for platinum jewelry may rise next year. During the past year, the rising price of platinum (which topped at $2,200 an ounce) had a negative impact on jewelry manufacturing. As prices rose, recycling of old platinum jewelry, especially in China and Japan, further depressed demand. But when the shocking news from the financial sector hit in the third quarter, prices of precious metals, including platinum, dropped significantly.

The current spot price of platinum has been hovering near $825 an ounce, while gold has dropped back to around $750, after topping $1,000 an ounce earlier in the year. The bigger drop in platinum prices compared to gold prices is said to be attributed to the fact that platinum is predominantly an industrial metal, while gold is more of a financial metal.

If demand for platinum jewelry increases that means the price of platinum will likely rise, too. So, if you are looking to sell some platinum jewelry, you may want to wait a few months to see what happens on the market. Platinum, along with its sister metals Palladium and Rhodium, may be set for a rebound.

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It always surprises us the amount of people there are in San Diego who are interested in the happenings at the big auction houses on both coasts and abroad. If you are one of them, we have some bad news: Sotheby’s Sale Disappoints.

What is Estate Jewelry?

October 27, 2008 by Administrator · Leave a Comment 

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We’ve all probably heard of “estate jewelry” but what exactly is it? Is it just that old gaudy looking stuff we see in our grandma’s jewelry box? The answer is no. Estate jewelry is technically any jewelry that has been owned previously. It doesn’t matter how old it is.

The reason for the confusion is that estate jewelry is often sold side by side with “period jewelry.” What is period jewelry? Well, that is jewelry from a particular era such as Art Deco, Art Nouveau, or Edwardian. What confuses the situation more is that many modern jewelry items are being made in these period styles, and called “vintage-inspired” or “revivalist” jewelry. The appeal of this jewelry is that it is said to be a classic and thus never goes out of style.

But back to estate jewelry. Estate jewelry is a market that has increased dramatically in the last twenty years. In fact, industry experts have said that it is the fastest growing segment in the fine jewelry market. In addition to estate fine jewelry, estate costume jewelry is also being increasingly sought after by shoppers, who like its kitschy and often funky look.

If you are thinking about buying a piece of estate fine jewelry at a San Diego pawn shop, make sure it is coming from a shop whose owner or staff knows fine jewelry, diamonds, and craftsmanship. You need to always beware of counterfeit pieces or items that have been repaired or tacked together from parts of different pieces of jewelry.

Don’t expect that original paperwork or a receipt will accompany the piece, as that rarely happens. After all, remember that the person who gave the estate jewelry to the pawn shop owner was using it as collateral on a cash loan. They weren’t actually selling to the pawnbroker or were asked to provide such things as the original receipt.

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When people go to San Diego pawn shops, they often wonder what they should be looking for. Well, we have one answer: Look for Colored Diamonds!

Beware of Jewelry Appraising Values

October 8, 2008 by Administrator · Leave a Comment 

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San Diego buyers and sellers of fine gemstone jewelry should take note of a recent report by ABC’s 7 On Your Side in San Francisco. The California consumer watch dog has shined a light on what could be construed as misleading practices being conducted by auction houses and jewelry appraisers. In particular the report singles out alleged inflated appraisals by American International Gemologists of Woodland Hills, who have received an F rating from the Better Business Bureau. The report retells the following consumer story:

“The auctioneer stopped me on the way out saying gee I’ve got something here for you, and he had the bracelet in his hand,” said Sjostrom.

He showed her an appraisal certificate saying the bracelet is worth a lot of money — $34,000 retail. But the auctioneer said Mary could have it for a mere $3,500.

“$3,000 to pay for something that had a $34,000 value would be incredible,” said Sjostrom.

So Mary bought it. With fees and taxes, she paid $4,200. Then she went outside and got a closer look.

“The rubies were very, very cloudy a lot of cracks and inclusions in the diamonds,” said Sjostrom.

Mary went right back in and asked for a refund. But all sales were final.

“He said, well, try and sell it on eBay,” said Sjostrom.

Needless to say that was not the kind of answer that Mary was looking for. If you are shopping at a San Diego pawn shop for jewelry and the owner shows you an appraisal certificate, look at with a discerning eye. Remeber that the appraisal value is the RETAIL value, and that could be hugely inflated. Don’t rush into anything. Check out the appraiser with the Better Business Bureau, as well as the pawn shop.

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Now that you have learned a bit more about jewelry appraisers, it would be a good idea to follow up that knowledge with our article: 7 Tips for Selling Diamonds and Diamond Rings.

Hip Hop Bling Goes to Auction

September 22, 2008 by Administrator · Leave a Comment 

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There are some kinds of jewelry your likely to never find in the cases of your neighborhood pawn shop in San Diego. Like those huge rocks you see being worn by today’s hip hop stars. But that doesn’t mean you can’t get yourself some of that expensive ice.

Some flashy “Bling” will soon be up for auction. Phillips de Pury & Co., which describes itself as the young collectors’ auction house, is planning on presenting “Hip Hop’s Crown Jewels,” a sale of 70 jewelry pieces estimated to raise $3 million. The sale, which is scheduled for Oct. 1, is billed by Phillips de Pury as the first for hip-hop jewelry. The New York preview, scheduled for Sept. 22-30, is open to the public.

The auction house’s Swiss chairman, Simon de Pury, came up with the idea for the auction. Part of the proceeds will benefit charities. The auction house announced that it will make a donation to the National Museum of American History’s initiative to establish a permanent hip-hop exhibition.

Some of the jewelry was presented to the auction by the performers themselves. Other pieces have come from the estates of rappers, such as a diamond and ruby crown-shaped ring owned by the late rapper Tupac Shakur.

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Just because you like hip hop doesn’t been you can’t go green and recycle your gold. Check out what SDJB is doing in: San Diego Jewelry Buyers Sees Gold Rush Going Green.

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