AboutPeter Lumetta Expertise Diamonds and colored stones are my expertise. Some experience in jewelry manufacturing for QVC and HSN. Cutting, marketing and selling of all precious and semi-precious gemstones.
Experience
Past/Present clients HOME SHOPPING CLUB, QVC, SHARPER IMAGE, J.C. PENNY, J.FRANK GOLDEN, OSCAR HEYMEN BROS. AND MANY MORE
What is the best way of turning old and damaged jewelry into cash? I do not have enough to bother with sending it to the refinery. The irony is that I plan to have my earrings custom-made by a local jeweler but he would not take my old 14K gold jewelry neither as a material for my new earrings nor as scrap value of which can be counted towards the cost of a new item.
It looks like gold pretty much loses its intrinsic value once it is sold to a customer. Jewelers don't want to buy it back. What is the best thing to do in this situation? Thank you.
Answer HI ANNA,
GOLD IS GOLD AND HAS A MARKET VALUE. YOU NEED TO FIND SOMONE WHO BUYS GOLD AND NOT A JEWELER. LOOK IN THE YELLOW PADES FOR JEWELERY SUPPLIERS, GOLD SMELTERS OR SOMEONE WHO SELLS GOLD BARS OR STOCK. UNLESS YOU LIVE IN A SMALL TOWN OR RURAL AREA THEN YO WILL HAVE SELL TO NEW YORK OR L.A. DEALERS. GOLD IS SELLING FOR ABOUT $650 PER OUNCE (14K IS .575 OR $373.75 PER OUNCE). YOU COULD EVEN GO ONLINE AND SELL YOUR SCRAP TO THE GOLD BUYERS. THERE ARE COSTS LIKE SHIPPING AND SMELTING COSTS AS WELL AS OTHERS. YOUR JEWELER IS NOT IN THE BUSINESS OF BUYING AND SELLING RAW GOLD AND DOESN'T SEEM TO WANT TO BE BOTHERED WITH IT. SHOP AROUND AND MAKE SOME MONEY.
