my mom had a gold ring for about 19 years, she wanted to resize it and just happened to ask the value since they have to melt it and make it over. The price it was worth 19 years ago was $300 and now the jeweller said it's worth $110 since the gold is old. Is he for real or is this true for old jewellery??
2006-12-11 00:13:22 · 11 answers · asked by supergirl 2 in Beauty & Style ➔ Fashion & Accessories
the ring was probably a brand name, or he ripped you off (either one)
2006-12-11 00:15:31 · answer #1 · answered by MrSmarT 3 · 0⤊ 0⤋
No, that can't be right. Now, if your mother bought the ring at retail, she probably paid 5 to 10 times what it was really "worth".
Your jewler may be telling you that there's not really much gold in the ring - gold sells for a little over $600 US per ounce - so he may be saying that there's only about 4 or 5 grams of gold in the ring.
A ring with $110 worth of gold in it would easily sell for 300 - 600 dollars retail.
Gold does not lose it's vaalue due to age - that's part of it's value. It does not deteriorate or tarnish.
2006-12-11 00:19:01 · answer #2 · answered by gabluesmanxlt 5 · 1⤊ 0⤋
It has nothing to do with the age of the ring. it has to do with the price of gold on the world market and yes it has gone down in the last 20 years. However, the jeweler is probably quoting your mother the wholesale price of ring rather than the retail price.
2006-12-11 00:22:42 · answer #3 · answered by babydoll 7 · 0⤊ 0⤋
Gold is gold. I'm not sure about the market price of gold, but maybe it's down. OR maybe the guy doesn't know what he's talking about. OR maybe the jeweler she originally purchased it from hiked the price quite a bit.
2006-12-11 00:19:42 · answer #4 · answered by just browsin 6 · 0⤊ 0⤋
The basic value of gold as a material is what the market dictates, right now gold is at high levels. 625.60 an oz. 20 yrs ago it was worth between 390.00 and 500.00 an oz, that's US dollars per oz. My question is what is the weight of the gold ring and is he giving you a basic price for the gold as a raw material and not a finished product like what you mother purchased 20 yrs ago?
2006-12-11 00:24:18 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Nope.
That's a new one. The price of gold per ounce is set by the market and it has changed daily.
However the gold sometimes wears down after wearing it.
Take it to another jewelry store for an estimate. You'll find out who's telling the truth.
GOD bless.
2006-12-11 00:23:08 · answer #6 · answered by May I help You? 6 · 1⤊ 0⤋
I don't think the decrease in value was due to the age of the gold, but the value of gold is changing all the time due to the economy...
Gold won't get any more valuable unless it's an antique :P
2006-12-11 00:20:49 · answer #7 · answered by celestelauuuuu 2 · 0⤊ 0⤋
NO, he is a liar! my mom has an antique 2 LBs weight of a golden belt! its worth even more then it did, a lot more then they actually bought it! he is just trying to make you think less of its value!
but it also depend if its a 18 carat or more! if its less then it really doesnt have much value!
2006-12-11 00:17:57 · answer #8 · answered by mwa 3 · 0⤊ 0⤋
Gold can be made by man now & it is sold by weight these days. the price will vary,but if the ring is nice looking it could be sold for it's design or looks.
2006-12-11 00:17:50 · answer #9 · answered by Anonymous · 0⤊ 1⤋
gold never diminishes, the jeweler obviously wanted your mother to sell it to him so that he could sell it for the actual price.
2006-12-11 00:50:24 · answer #10 · answered by Anonymous · 0⤊ 0⤋
No since it doesn't really change but because of our economy its price may very from time to time
2006-12-11 00:15:56 · answer #11 · answered by gratis_dawg 2 · 0⤊ 0⤋