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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.

Sell My Gold? Who is the Best San Diego Gold Buyer?

December 2, 2010 by Administrator · Leave a Comment 

Where is the best place to sell gold in San Diego?If you are looking to sell gold in San Diego, there are many places from which to choose. Which gold buyer is the best? Well, the answer to that question depends on different factors. But when deciding who is the best gold buyer for you, there are some specific questions that you should be asking.

The first question to ask a potential gold buyer in San Diego is how are they weighing the scrap gold, gold jewelry, and other gold gift assets that they buy. Are they weighing these products in grams, or are they weighing them in pennyweights?

The best gold buyers in San Diego weigh customer gold in grams. The reason for this is because when a gold refinery, jewelry store, or dedicated jewelry buyer weighs products in pennyweights rather than grams, this benefits them rather than you, the gold seller. Whoever you do business with, make sure that they weigh your items in grams (in front of you) and calculate their buying offer on the gram weight of your gold.

The next question you want to ask your San Diego gold buyer is how much they are paying for 14 karat or 18 karat gold today. They should tell you in a very simple and straightforward fashion what they are paying per gram for that particular karat weight. Beware of buyers who say what today’s gold price is, not what they are paying per gram. Some buyers deceptively tell customers the price that they are selling gold at, rather than what they are buying it at, in order to lure them into their stores.

If the gold that you are looking to sell is set with diamonds and gemstones, then you want to avoid selling it to a San Diego gold refinery who just buys gold to melt it down or at a San Diego gold party, whose buyer doesn’t have the expertise to evaluate the worth of pre-owned diamonds, rubies, sapphires, and other precious gemstones. Ask whichever buyer you are considering doing business with whether they pay extra for diamonds and gemstones. The best San Diego gold buyers always will pay more when the jewelry is set with precious stones that are significantly sized and of high quality.

In similar fashion, you want to be especially careful when selling designer gold jewelry. Once again, most buyers at California gold refineries or San Diego gold parties do not know how to assess the extra worth of branded jewelry. You want to ask the gold buyer if they pay extra for high branded jewelry and to name a few examples of these jewelry brands. This actually is a good question to ask even if you aren’t actually selling designer gold jewelry, because a positive answer will help show you the gold buyer’s level of professionalism. In addition, you might have an old vintage piece of gold jewelry that doesn’t look branded to you but could be worth a premium price.

When choosing a San Diego gold buyer, you also want to know something about their history. So, ask them how long they have been in the gold buying business and what is their background in the fine jewelry industry. There are a lot of gold scams and fly-by-night gold buying businesses that are looking to make a quick buck preying on uninformed folks who need to sell gold fast to cover some bills. The gold jewelry buyer you work with should certainly be in the gold buying business for over a year and have well-documented evidence of working in the jewelry industry for five or more years. In other words, selling your gold for the best price in San Diego means selling it to a professional buyer with a provable track record.

Speaking of track records, this leads us to another important aspect of choosing the best gold buyer. Be sure to ask whether the company has any complaints filed against it with the San Diego Better Business Bureau. Your gold buyer should have either no complaints filed against it or no more than a couple complaints due to misunderstandings which were successfully resolved and documented by the BBB. If the buyer has multiple unresolved complaints filed against it, this is a red flag.

Lastly, if you are going to sell gold in San Diego, ask the dedicated gold jewelry buyer, gold refinery, or jewelry store whether they are going to pay you cash for your gold or by check. For most transactions, you should be paid cash on the spot for your merchandise. But if you are selling a large amount of gold, it is okay to accept a cashier’s check, as long as the buyer is operating out of a bricks and mortar store in San Diego, and the business has been in operation for over a year.

Seller News: Gold Prices Continue to Soar

November 29, 2010 by Administrator · Leave a Comment 

San Diego Gold PricesThe folks at the Gold and Silver Blog have been writing informative material on the strength of the gold market. According to the GSB, the consistent rise in gold prices has been due to factors such as concerns regarding weak currencies and unstable foreign governments. In addition, gold has been viewed as a safe haven investment and has been attracting an increasing share of investment dollars. Despite the recent leveling off of gold prices, many market experts are predicting a continued rise in prices over the long term, says the blog.

According to recent market reports (as of November 26), SPDR Gold Trust (GLD) stated that its holdings remained unchanged from the previous trading day at 41,316,740 ounces. The IShares Silver Trust (SLV) stated that its holdings declined by 5,865,684 ounces to 344.374 million ounces. Market experts have suggested that the holding pattern, as well as the slightly lowered prices indicate a decrease in safe haven demand. Recent data on the economic situation in the US has at least temporarily arrested some of the more pressing fears about the economy, and the price of gold has typically risen and fallen inversely to the strength of the dollar.

What this all means for those in San Diego and greater California who want to sell gold is that the times remain good for receiving top prices for your gold jewelry, dental gold, scrap gold, and other gold items at a San Diego gold refinery or other precious metal buyer. Will you be able to get a better return if you hold on to those item for a little while longer? Maybe. But, of course, gold prices could also fall soon, as well. All we can say for sure is that current gold prices will give San Diego sellers a strong return on their luxury gift assets made of gold.

Sell Gold San Diego: Gold Refinery Service w/ San Diego Jewelry Buyers

November 29, 2010 by Administrator · Leave a Comment 

Sell Gold San DiegoSan Diego Jewelry Buyers™ has announced that it is extending its gold refinery service to pawn shops, jewelry stores, and other businesses that are buying gold from the public. “When we started our San Diego gold refinery service, it was initially limited to the scrap gold, dental gold, and broken gold jewelry that we were buying from individuals,” says Carl Blackburn, owner of San Diego Jewelry Buyers; Read more

Gold Fuels Pawn Shop Boom

February 2, 2010 by Administrator · Leave a Comment 

gold-sandiego Gold Fuels Pawn Shop Boom KPLC TV News is reporting that the high price of gold has local pawn shops booming, as more people dig through their jewelry boxes for gold items they can trade or sell for cash. The Lake Charles news team interviewed a local pawn shop owner who says more customers are finding gold and pawn shops a great combination, especially since it’s hard to get fast cash from banks and other lending institutions.

“A lot people have single earrings, broken rings or necklaces that they’re not going to repair,” said the pawnbroker. “With the record price of gold now, a lot of times they’re pleasantly surprise with how much they can get for it.” He also advised customers to go local when you put your gold items on the market.

Many people are also mailing in their gold to companies who advertise frequently on television. Recently several of these businesses have come under intense scrutiny. New York Congressman Anthony Weiner (D-NY) has even called for the Federal Trade Commission to look into one company’s “deceptive practices,” after hearing several complaints from sellers who say the company didn’t give them the promised price for their gold.

And all experts agree (including us at the San Diego Luxury Pawn Shop Report) that before selling or trading to any gold buyer, consumers should get several quotes from different brokers.

San Diego Buyer Predicts Strong Prices for Gold, Gold Jewelry, & Scrap Gold

February 2, 2010 by Administrator · Leave a Comment 

sandiego-gold_buyers San Diego Buyer Predicts Strong Prices for Gold, Gold Jewelry, & Scrap Gold Although the U.S. economy and the dollar remain on shaky ground, many analysts are predicting that one thing will remain strong during 2010: the price of gold. One of those analysts is Carl Blackburn, owner of San Diego Jewelry Buyers (SDJB). Read more

New Gold Jewelry & Precious Metals Law

August 5, 2009 by Administrator · Leave a Comment 

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Orange County readers of the San Diego Luxury Pawn Shop report should take note that a new law has been passed. The Shawangunk Journal reports that under this new law, anyone who has a business that buys second-hand jewelry (gemstones and precious metals) would have to have a license from the county and undergo a background check. In addition, two crucial rules apply. To sell gold jewelry to a store, you have to be over the age of 18 and you have to have photo ID for the store owner to see and if they want, to record. Then, the store or pawn shop must hold the items for 15 days before selling them.

The journal interviewed Dan Depew, Country Representative of the 18th District, who put it this way. “You can’t just ride into town, stay in a motel, and announce that you’re buying gold. Because, now you have stay in the county a while, and you have to register and undergo that background check.”

Police Chief McCann believes that the new law can be a win-win for everyone, saying that if pawn shops and jewelry buyers work it into their practices, then they can be sure that the police know they’re on the right side of things. McCann also added that residents can take steps to protect themselves. “Everyone [should maintain] a good record of the piece of jewelry, or property of any sort that has a value, or that they think is important to them. A photo is good, but if there’s some marker on the property that is known only to them, so they can ID that piece of jewelry, then that’s a great help to us in recovering things.”

7 Quick Questions to Ask Your Gold Buyer

March 25, 2009 by Administrator · 1 Comment 

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San Diego Jewelry Buyers has announced the publication of a new education article appearing on their online Knowledge pages for consumers wanting to sell gold, fine jewelry, diamonds, and timepieces. Titled “7 Quick Questions to Ask Your Gold Buyer,” the article intends to help consumers avoid many of the pitfalls that have been recently documented by investigative news programs, where gold buyers have been engaging in dubious practices to buy gold from sellers for far less than what they deserve.

“Over the past year, there have been literally hundreds of new people and companies getting into the gold buying business,” says Alan Blyler, a spokesperson for San Diego Jewelry Buyers. According to Blyler, while some of these gold buyers are upstanding and follow industry accepted practices, many more, especially some of the big online outfits, are engaging in practices that long-time gold buyers do not support.

For example, some gold jewelry buyers immediately offer a customer a higher amount when he or she rejects the company’s first buying offer; and then a higher cash amount again when that person rejects their second offer. “An upstanding gold buyer will give you their best buying offer right from the start. Period,” says Blyler.

One sample from San Diego Jewelry Buyers “7 Quick Questions to Ask Your Gold Buyer” is the following:

How much are you paying per gram today for 14 karat gold (or 10K, or
18K, etc.)?

CORRECT ANSWER: According to today’s market price of gold, we are paying ___ per gram for 14K gold (or 10K, or 18K, etc.).

REASON: Some gold buyers will use deceptive techniques in order to get you into their store. For example, they might say, “Today’s gold price is ___ per gram.” Then when you come in they will explain that the price they quoted you on the phone was what they sell gold for, not what they buy it for. They do this in hopes of capturing a certain number of people who will still go through with the transaction despite the “misunderstanding.”

To read the rest of SDJB’s essential questions to ask a gold buyer, please visit their website at: SanDiegoJewelryBuyers.com

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Looking for more information about people’s personal experiences with gold buyers, and why you should compare before choosing one? Then check out this good news article: It Pays to Compare Gold Buyers.

Gold Prices Jump to 7 Month High

February 25, 2009 by Administrator · Leave a Comment 

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The good news keeps coming for people looking to sell their gold in San Diego. Bloomberg reports that gold climbed to the highest level in seven months on demand from investors who want to protect the value of their assets as stocks slump and the global recession deepens. Read more

Pawn Shops May Benefit from Fall of Jewelry Retailers Friedman’s & Whitehall

September 26, 2008 by Administrator · Leave a Comment 

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Local San Diego pawn shops stand to profit from having two less competitors in the crowded retail jewelry market. National Jeweler Magazine reports that Friedman’s Jewelers filed for Chapter 11 bankruptcy protection in January, with Whitehall following suit in June. Read more

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