i have a gold chain 18 k and io want to sell it i bought it for $1400 like 1 year ago.
2006-09-29 19:13:05 · 6 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
No, gold does not lose its value due to being used. The value of gold fluctuates up & down, like any commodity. The 18K gold in your chain is worth as much today as any gold bullion of equal weight. However, the $1400 you paid for it wasn't just for the gold. What you paid for was largely the artistry that went into making that chain. The artistry and the advertising and the transportation and the seller's overhead and the many other expenses that went into creating it from the raw gold. So the gold in your chain was and is worth only the price of gold which you can look up in any city newspaper. Look up the price of gold and find out how much your chain weighs, and you can then figure out how much the gold in you chain is worth at today's prices (except if you sell it to a gold reclaimer, you would have to subtract some percentage for his assaying cost). As for its esthetic or artistic value, that is only whatever a buyer is willing to pay for it. Your chain could be worth a lot more or a lot less than $1400, and worth different amounts to different people at different times. In fact, the value of the gold in it is probably only a small part of what you paid for it, and only a small part of what you can sell it for. So the bottom line is that It's only worth whatever you can get for it, and no more.
2006-09-29 19:33:58 · answer #1 · answered by yahoohoo 6 · 0⤊ 0⤋
Yes, unfortunately used gold has a tendency to have only weight value unless it is something of high demand i.e. discontinued designer. Retail sells at a much higher cost than just the weight value. There are factors involved with retail and a profit must be made to cover head, sales staff, designer name, advertising, manufacturing and craftsmanship. If you need to sell it I would also suggest eBay. If it is in good condition it may sell depending on supply and demand but I do not think that you will get the original purchase price for it...sorry:( If you list it with eBay, a detailed description with length, gram weight and clear photos will attract prospective customers. Good luck:D
2006-09-30 02:36:35 · answer #2 · answered by o_O 2 · 0⤊ 0⤋
does not loose value as a precious metal (whatever they may be trading for that day), however as jewelry it depends on the market, if that piece is in high demand value may have gone up, if nobody likes it and a lot of people that bought it a year ago are trying to sell it than the market is flooded and the value is decreased.
2006-09-30 02:21:42 · answer #3 · answered by Eric 3 · 1⤊ 0⤋
The value of gold varies from day to day, you can check online for the current going rate of gold. Weigh it and go from there on the value. That doesnt mean you'll get that much for it but its a starting point.
2006-09-30 02:21:24 · answer #4 · answered by Sandi A 4 · 1⤊ 0⤋
No, it does not lose its value, unless it is damaged.
Why not put an ad in the newspaper? Want to sell to buy
engagement ring? or something like that.....
It probably is worth more now. Hold on to it, if you do not
have to sell it.
2006-09-30 02:24:27 · answer #5 · answered by Eve 7 · 0⤊ 0⤋
only if you pawn it,, try craigs list or ebay to get tthe price you want for it or take to a jewler that buys gold
2006-09-30 02:15:22 · answer #6 · answered by Anonymous · 0⤊ 1⤋