Buying/valuing advice needed - gold rings

[bobski]

A friend has asked me to sell some rings that were his mothers. He’s sent me a couple of photos and I’m meeting home later to have a look. Not sure if hallmarked until I get a good look at them. He’s Portuguese and communication is a bit difficult via text lol. I’ll weigh them first obviously, but what should I do other than post my finding on here and ask for advice? 
 

 

[bobski]

Another ring he wants to sell to me

[bobski]

@James32 @Fenlander1 @Solachesis who should I get advice from on here? Not sure where to start

[Fenlander1]

 @Earthmetal

@Spyder

[Solachesis]

3 hours ago, bobski said:

@James32 @Fenlander1 @Solachesis who should I get advice from on here? Not sure where to start

No idea on jewellery to be honest, @stefffana might be able to help, also @GoldShackoften sells jewellery 

[stefffana]

Hi, @bobski, and thanks for tag, @Solachesis!

Gold jewellery with fully british hallmarks are selling on forum usually at spot plus shipping. People are very sensitive when talking about premiums on here and from what I have seen, only very special items as Albert style chains or exquisite pieces sold for a very little premium, but not more than 10%.

If these pieces are not hallmarked, it is impossible to sell them on forum.

Also, if there are another foreign hallmarks, the customers are reluctant to pay even spot, so a 2% under spot with shipping included is the most realistic scenario.

Keep us updated, please, I might be interested to buy one or two.🤗

[bobski]

4 hours ago, stefffana said:

Hi, @bobski, and thanks for tag, @Solachesis!

Gold jewellery with fully british hallmarks are selling on forum usually at spot plus shipping. People are very sensitive when talking about premiums on here and from what I have seen, only very special items as Albert style chains or exquisite pieces sold for a very little premium, but not more than 10%.

If these pieces are not hallmarked, it is impossible to sell them on forum.

Also, if there are another foreign hallmarks, the customers are reluctant to pay even spot, so a 2% under spot with shipping included is the most realistic scenario.

Keep us updated, please, I might be interested to buy one or two.🤗

Thank you stefffana. If they don’t have hallmarks I’m not sure how I would test to find out the purity of the metal. Also not sure how I would get the spot price as there’s stones included in the weight. I’m sure these are stupid questions for most lol

[stefffana]

20 minutes ago, bobski said:

Thank you stefffana. If they don’t have hallmarks I’m not sure how I would test to find out the purity of the metal. Also not sure how I would get the spot price as there’s stones included in the weight. I’m sure these are stupid questions for most lol

If there are not hallmarks, only a pawn shop can help, of course, at a way lower price.

The spot price for these rings will be calculated with stones included, because are definitely not scrap. 

So, let's say that one ring is 9ct gold, weighing 7.65g (with stone included).

The spot price for that ring will be 7.65g x 0.375purity x £1592.5/oz : 31.103g/oz = £146.88.

I hope this will help.

Edited April 26, 2023 by stefffana

[watchesandwhisky]

From what I can see the garnet cluster ring with the original bill of sale is the nicest item here. That said its a tough sale, the diamonds are small and garnets are not particularly valuable in most cases. Also depends on the finger size of the ring, the weight does come into it but its value may be slightly more than the gold content, finding someone to pay that price will need legwork and time. Also it depends on the condition of the claws holding the stones, the condition of the shank and it being in good shape ect. Agree with steffana if it isn't UK hallmarked its value can go down.

Edited April 26, 2023 by watchesandwhisky

[bobski]

1 hour ago, stefffana said:

If there are not hallmarks, only a pawn shop can help, of course, at a way lower price.

The spot price for these rings will be calculated with stones included, because are definitely not scrap. 

So, let's say that one ring is 9ct gold, weighing 7.65g (with stone included).

The spot price for that ring will be 7.65g x 0.375purity x £1592.5/oz : 31.103g/oz = £146.88.

I hope this will help.

That makes sense mate. if he comes round this evening I will weigh them, get lots of photos and then post here. I would only be after a fair price where the buyer could make some money and the seller doesn't get ripped off. I might get a drink out of it if I'm lucky.

[bobski]

1 hour ago, watchesandwhisky said:

From what I can see the garnet cluster ring with the original bill of sale is the nicest item here. That said its a tough sale, the diamonds are small and garnets are not particularly valuable in most cases. Also depends on the finger size of the ring, the weight does come into it but its value may be slightly more than the gold content, finding someone to pay that price will need legwork and time. Also it depends on the condition of the claws holding the stones, the condition of the shank and it being in good shape ect. Agree with steffana if it isn't UK hallmarked its value can go down.

Are garnets or diamonds more or less valuable than gold by weight. That's the important information for me to give him a scrap value

[stefffana]

5 minutes ago, bobski said:

Are garnets or diamonds more or less valuable than gold by weight. That's the important information for me to give him a scrap value

Diamonds or any other stones are valuable, of course, when you are buying them new from High Street Jewellery Shops. When you are trying to sell them, it is another story, unfortunately.

When a private person trying to sell, a lot of jewellers or pawn shops are deducting an estimated weight of stones from the total weight of items, paying you less than gold scrap value.

[Earthmetal]

9 hours ago, Fenlander1 said:

 @Earthmetal

@Spyder

Personally I would buy without hallmarks, as I buy from a very reputable auction house, but I understand that some may be reluctant to do so.
Stones are something I know nothing about, so I mainly tend to avoid buying such items unless paying under the weight, or they're specifically stated as being gemstones then I would pay as full weight.

[bobski]

1 minute ago, stefffana said:

Diamonds or any other stones are valuable, of course, when you are buying them new from High Street Jewellery Shops. When you are trying to sell them, it is another story, unfortunately.

When a private person trying to sell, a lot of jewellers or pawn shops are deducting an estimated weight of stones from the total weight of items, paying you less than gold scrap value.

So I should deduct their estimated weight for scrap value? Or I shouldn't? lol

[stefffana]

Just now, bobski said:

So I should deduct their estimated weight for scrap value? Or I shouldn't? lol

Nooo!

Those rings are not scrap! Leave the stones where they and count them at the total weight!

[stefffana]

15 minutes ago, stefffana said:

Nooo!

Those rings are not scrap! Leave the stones where they and count them at the total weight!

Have a look at these pictures to see how is clean gold without stones, sold as scrap, even technically are not exactly scrap.😂😂😂

But your friend's rings look a little better, isn't it?

 

Edited April 26, 2023 by stefffana

[watchesandwhisky]

If you buy of your friend, whats your plan for them? 

[Fenlander1]

11 minutes ago, stefffana said:

Have a look at these pictures to see how is clean gold without stones, sold as scrap, even technically are not exactly scrap.😂😂😂

But your friend's rings look a little better, isn't it?

 

£1 to get you started

[stefffana]

1 minute ago, Fenlander1 said:

£1 to get you started

Go to the naughty boys page, mate!

 

[CazLikesCoins]

11 hours ago, bobski said:

A friend has asked me to sell some rings that were his mothers. He’s sent me a couple of photos and I’m meeting home later to have a look. Not sure if hallmarked until I get a good look at them. He’s Portuguese and communication is a bit difficult via text lol. I’ll weigh them first obviously, but what should I do other than post my finding on here and ask for advice? 
 

 

So there's a fella who can't speak English asking an Englishman to helps sell gold rings who knows nothing about selling gold rings? 🤣 It sounds like a scene from Snatch lol.

Most of my friends ask for simple things like feeding the cats when they're away or buying them a pint of milk when I'm out and about lol.

Sounds like a disaster waiting to happen lol. What's he going to ask for next? Tout them around the local prawn shops?   

[bobski]

9 minutes ago, watchesandwhisky said:

If you buy of your friend, whats your plan for them? 

offer them for sale or auction on here mate. Just helping a friend out

[watchesandwhisky]

Ok, I would look to pay just under spot and hope to sell them for just over. the stones are small so forget about them just weigh the rings and check purity first, for unmarked rings or foreign hallmarked i would offer 90% of spot and sell for 95%  

 

[bobski]

1 minute ago, CazLikesCoins said:

So there's a fella who can't speak English asking an Englishman to helps sell gold rings who knows nothing about selling gold rings? 🤣 It sounds like a scene from Snatch lol.

Most of my friends ask for simple things like feeding the cats when they're away or buying them a pint of milk when I'm out and about lol.

Sounds like a disaster waiting to happen lol. What's he going to ask for next? Tout them around the local prawn shops?   

He can speak good English, he just doesn't understand the word hallmark when in a Facebook message when my sleeping tablets have kicked in and not got time to fully explain in and really trying to get some sleep. I thought this forum might be a good place to ask advice, so he doesn't get ripped off. Happy to remove this thread and send him to a pawn shop if I'm not allowed to use TSF for such a question

 

But yes, it does sound like a really poor guy Ritchie movie

[bobski]

3 minutes ago, watchesandwhisky said:

Ok, I would look to pay just under spot and hope to sell them for just over. the stones are small so forget about them just weigh the rings and check purity first, for unmarked rings or foreign hallmarked i would offer 90% of spot and sell for 95%  

 

90% of 9ct, 18ct? (If I'm allowed to ask such questions?)

[watchesandwhisky]

The 18ct ring id pay 100% of spot and try and sell for a bit more , the rest probably offer 90% and sell for 95% 

But yes % of purity adjusted.