Will I recover value for the precious metals of my used diamond jewelry? What affects the value of the precious metals in my used diamond jewelry?
Yes, you will absolutely recover the value of the precious metals in your used diamond jewelry at today’s market price. The used diamond jewelry buyers at DeSumma & Wexler will give you cash for your unwanted jewelry, making us one of the best places where you can sell your gold jewelry. With our instant cash offer price, the value of the metal is included along with the price of the diamonds. With the value of precious metals at an all-time high, many of our clients are realizing much more than they thought. For instance, if you purchased a piece of diamond jewelry when gold was valued at $300 per ounce on the commodities market, and today’s real time price is valued over $1,000, then you should be doing pretty well for yourself.
Record-High Values for Used Precious Metal Jewelry
The value of the precious metal is first and foremost dictated by the market itself. Precious metals have been at historically high values for the past couple of years for a number of reasons:
- Loose monetary policy – USA injecting cash into the economy. The value of gold, platinum, and silver have been increased as a result of the money supply.
- Increased market volatility – when the stock market has major swings in value, investors tend to purchase hard assets such as precious metals to hedge their risk.
- Debt crisis – precious metals are considered a safe investment.
The market is constantly changing, and nobody has a crystal ball. Our advice is not to time the market. If you are happy with the instant or consignment offer we provide you, with then take it and move on!
The value of your precious metal is also determined by the purity level of the metal itself. All precious metal in jewelry is alloyed with other metals. For instance, 14kt gold, regardless of white or yellow in color, is 58.5% pure gold. To put it into better perspective, 18kt gold is 75% pure gold, and 24kt gold is pure gold. Platinum is generally 90-95% pure. There are also labor costs that are included in casting the metal and finishing. You will never be able to re-coupe these costs, so you have to deduct that from your expectations when deciding to sell your used gold jewelry.
At DeSumma & Wexler, we buy silver and gold jewelry, and our store is where to sell your diamond engagement rings. We analyze all aspects of your jewelry to help give you the best price.