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Determining the Value of Gold Jewelry

Determining the Value of Gold Jewelry

2017-06-16

Jewelry has a set value that’s determined not just by the whims of the distributor, but by an established series of qualifiers that distinguish between authentic materials and imitators, and use a wide set of guidelines. Whether you're looking to buy an engagement ring for your significant other or to sell your jewelry in Atlanta, here’s what you need to know.

Gold Jewelry

Counting Karats

People refer to karats when determining the value of gold, but how do you know how many karats a gold ring is? A karat marker should exist on your piece, which should be visible under a microscope. If this marker doesn’t appear to exist or is unreadable, the karat can be determined through chemical testing. This can be done by either using an acid test or what’s known as the Skey test. The acid test can cause discoloration and damage to the material if not administered properly, so it’s better to have it performed by an expert. They can also perform a Skey test using a specialized gold testing box and pen that uses a similar method to the acid test, where certain discolorations mean a distinct karat level.

Grams and More Grams

Weight is a key determining factor that can help you accurately estimate the value of your gold, whether it’s in earrings or in coins. A proper scale can let you know the gold’s weight, which you can use to very simply translate that weight value into monetary value. The particular karat of a gold piece and its weight can both help give you a more accurate value estimate of that gold piece.

Market Values

Gold is a highly valuable precious metal. This means that it's included in the world stock market, as it's used as a reinforcement for the value of currency. How the value of gold fluctuates on this global currency market has a direct impact on the face value of gold in shops and jewelry markets. Although this price fluctuates hourly just like the complex market does, generalizations about the value can still be derived from this market value that influences the value when you buy or sell gold jewelry.

Gold Jewelry

A Formula for Profits

There are several formulas you may have seen on how to calculate the value of your gold. In general, you can multiply the price per gram of the gold by the weight in grams, and that should give you a relatively accurate estimate as to the value price. However, one thing you cannot factor into these calculations is precious stones. Calculating the value of these items can be far more nuanced, and may require an expert jeweler’s eye to accurately give any determination of value. There aren’t any easy formulas for comparing a ruby encrusted ring to a set of diamond earrings.

If you're looking to sell your jewelry in Atlanta, these identifiers can help you get a clearer idea of what to expect whenever you're speaking with buyers. It can also give you a clear eye for when someone is trying to negotiate an unfair price out of you for your wares, ensuring that you’re never losing money whenever you’re trying to sell your jewelry for cash.