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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.

7 Tips For Selling Diamonds & Diamond Rings in San Diego

October 8, 2008 by Administrator · Leave a Comment 

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Walking into a San Diego pawn shop or jewelery buyer’s office can be an intimidating experience if you have a diamond ring, earring, necklace, or bracelet that your looking to get a cash loan on or sell outright. You might be shocked by the amount of cash that is offered you. Before you walk through those doors, here are some things to keep in mind:

1) Understand that the price a San Diego buyer offers you will be substantially less than the retail price, because the buyer has to assume a great deal of added risk in buying your diamond or diamond ring. In other words, buyers have no assurance of the money they will receive when they try to resell your item, or how long they will have to hold onto your item before selling it at an acceptable profit.

2) The shape of your diamond will affect the price. For example, a round Brilliant cut diamond is often much easier to sell than a fancy shaped diamond like a Marquise, Heart, Trilliant, or Victorian cut. The more confident the buyer is that they have a ready buyer for your diamond the easier it is for them to assess the price. If there isn’t sufficient demand for the shape of your diamond in the current market that will lower their buying offer.

3) When a diamond is accompanied by certification this assists the buyer in pricing that item because this eliminates the need for them to grade the diamond themselves, the results of which may or may not perfectly match the findings on the certificate.

4) Keep in mind that the appraisal value of your diamond is the retail replacement cost. This figure has no bearing on the price which you will be offered should you decide to sell a diamond ring.

5) San Diego Pawn shops in general operate a business that requires greater liquidity. That is, they often need to turn around items much quicker than an established jewelry or diamond buyer. Thus the offer you might receive for a loan on a diamond at a pawn shop is likely to be lower than if you were to sell the item outright to a jewelry or diamond buyer.

6) Be wary of those San Diego diamond buyers who say that it is only the diamond that holds high value and that they just sell the ring for the scrap value of the precious metal. While mass market rings are valued at scrap value, branded fine jewelry that bears handcraftsmanship often holds substantial value and should not be chopped apart and melted down.

7) If possible, look for opportunities to sell your diamonds or diamond ring to a relative, friend, or friend of a friend in San Diego, as you may receive a higher price for your item by selling it privately in this manner.

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San Diego jewelry lovers probably know that Burma rubies are among the most coveted gemstones around. These gems now will become even more rare in the States with the start of the: Burma Ruby Ban.

Advice For Dental Gold Sellers from San Diego Buyers

September 26, 2008 by Administrator · Leave a Comment 

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This Week’s Gold Seller Question:

What is a good price for dental gold scraps by the gram?

Answer From: San Diego Jewelry Buyers

Depending on the gold purity of your dental scraps, we would be paying you roughly between $10.00 and $20.00 per gram. Let me explain how that works: Dental gold scraps can vary in actual karat rating (gold purity) from between 40% gold content all the way up to as high as 80%. So, for example, if gold is trading on the market at $900 per troy ounce, and your scraps tested at 40% gold purity, then we would be paying you $9.83 per gram. If your scraps tested at 80% gold purity, then we would be paying you $19.67. These figures are calculated at 85% of gold’s current trading price, to leave room for operating and refining costs, and to cover risk of gold prices taking a sudden drop. These figures are based on the assumption that you have only a small quantity of gold (less than one ounce), but in case you have a lot of dental gold we sometimes pay higher for larger quantities.

We tell customers that the best thing to do is come into our office so that we can test the karat rating of their dental gold scraps, and let us make them an offer. There is no obligation to sell to us, and we offer this service free of charge. We’re available any time from 9:00 AM till 4:00 PM Monday through Friday, no appointment necessary. Our office is located at 861 Sixth Avenue (between E Street and F Street), in the Jewelers Exchange Building, downtown San Diego (in the Gaslamp District). We’re at the far right corner of the ground floor, suite number 125. Please ask for Carl Blackburn. You may call ahead if you’d like, to let us know what time you’ll be coming in, our telephone number is (619) 236-9603.

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Here at the San Diego Luxury Pawn Shop Report we are always looking for unusal news stories that jewelry lovers might be intrigued or surprised by. Here’s a good item: Lesotho Unearths 478 Carat Diamond!

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