Weighing gold AND jewellery - how do they know how much it weighs?

[5129frederick]

I took an inexpensive ring into a jewellers which had a couple of stones set into it.  The person over the counter looked at it and then weighed it and told me how much it was worth to him in scrap value i.e. the weight and the scrap value.  Although it was 9 kt, how could he determine how much the gold weighed without removing the stones - sapphires in this case?  Do all semi-precious stones weigh the same?  The price he quoted was reasonable.  

[aernethril]

Did they tell you whether they were offering a price for the whole weight, or did they deduct 'an amount' for the stones and then offer a price on the rest?

One person to ask is @dropdolly as she knows her stuff.

[5129frederick]

He was offering me scrap gold value only.  He said it wouldn't be worth his while putting it up for resale.  He told me the only stones they'd be interested in would be diamonds for a repair job.  He said semi-precious weren't worth bothering with.  

[dropdolly]

£9.25 a gram for 9 carat on todays prices is what I can get...the average ring weighs between 2 to3 grams with a couple of small stones...most jewellers pay such dreadful amounts for gold that they leave the weight of the stones in as they pay so little.

If the stones are huge then they give a rough guess and deduct it....if they are small they usually dont bother and the stones are just an extra for them.

What are the stones in your ring? what gram price did he offer? am curious.

[5129frederick]

I'll keep it for a while - it's at "uncle" with a load of other stuff at the moment!  It was a beach find years ago in 7" of mud.  Useful what you told me about the current price - I sometimes go into "scrap gold to see how the prices are going.  Saw an Irish ring go up for £40.00 .  Five seconds before the end, it went for £41.00!  You need a very, very cool head to pull off something like that.  The person must have been exceedingly experienced to pull that one off.  I realise how they do it - you do everything bar one button - "confirm"  The air must have turned blue from the person who'd been outbid.  I'd lost out several times in the closing seconds with eight seconds to go, and that's maddening!  Nasty, but there you go.  I prefer "real" auctions, but you've got to think on your feet, taking into account buyers fees and VAT  It's a game between the auctioneer and me - I set my limit - he's determined I go over it.  Six times out of ten I'll overspend!

[wskneil]

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@5129frederick wrote:

.  Saw an Irish ring go up for £40.00 .  Five seconds before the end, it went for £41.00!  

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5 seconds? Amateur!

[ilove2patch]

I have sniped at three seconds! lol Love the adrenalin rush! 

[aernethril]

Thanks DD

[5129frederick]

Swines, eh?   Especially if you really, really wanted it as opposed to knowing full well that it's going to som tightwad who's only interested in putting it up for resale.  That happens a lot in multiple postcard sales.  I used to do that at one stage but it's not really worth the effort.  At 99p insert free all you're making is about 40p per card.

[wskneil]

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@5129frederick wrote:

Swines, eh?   Especially if you really, really wanted it as opposed to knowing full well that it's going to som tightwad who's only interested in putting it up for resale. .

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But if you REALLY REALLY wanted it, why hadn't you bid your 100% never to be increased gold plated absolute maximum before?

[dropdolly]

thats ok, I am always pleased to put my experience to good use...no one at home wants it!

[5129frederick]

I certainly appreciate your advice - I've rounded it up mentally to ten quid a gram - that's an easy price to remember.  I was bought one of these goldsmiths super accurate digital scales which weighs stuff in 1/10th of a gram for Christmas but haven't had the chance to use it!  I hate my "Uncle"!  

[leoleoleo123]

The highest bid will win, regardless of when it is placed ...
I always snipe within the last few seconds too, but, if the other person already had a higher bid placed, they would still win, so obviously £40 was their top bid.