Buyer Bware
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BUYER BEWARE: Always calculate the price per gram before purchasing gold jewelry online.
This 14K “solid” white gold Cuban chain:
• 35.63 grams
• 4.3mm
• Machine made
• Offered to me at $11,620
That equals approximately $326 per gram.
Current 14K melt value is roughly around $60/g, meaning the actual gold content is worth only about $2,100–$2,300 before labor, overhead, and reasonable profit.
Even accounting for craftsmanship and retail markup, buyers should understand the difference between:
• melt value
• fair market value
• luxury retail markup
Always compare:
✔️ total weight
✔️ price per gram
✔️ hollow vs solid
✔️ handmade vs machine made
✔️ clasp quality
✔️ current gold market
A high “discount” percentage off an inflated MSRP does not automatically make something a good
idealgems1
·2 months agoHere's a little helpful information showing the math.
Current gold spot price is about $4,500 per Troy ounce.
14 karat purity is 14 out of 24 parts gold; roughly .583 purity.
There are 31.1 grams to a Troy ounce.
So, $4,500 divided by 31.1 equals a melt value of $144.69 per gram for pure 24 karat gold.
$144.69 x .583 purity equals a melt value of about $84.36 per gram.
So, the melt value of the chain is $84.36 x 35.63 grams equals about $3,005.75
I would agree that $11,620 for the chain is a very high asking price.
wilwo314327
OP2 months agoThank you for the additional information. Appreciate it.
roccotacodad54
·2 months agoWell there's one born every minute, just be glad you're not one of them.
It's admirable to try and warn others but if they need to be warned about buying gold from a stranger on the internet then they will just find another way to be parted from their money......................
wilwo314327
OP2 months agoYea people need to be educated. Just like with anything else in life but I appreciate your comment. Take care.
ed8108
·2 months agoI believe Sellers are allowed to ask for as much money as they want for any item that they list for sale on eBay..
Contact eBay for official details
wilwo314327
OP2 months agoAnd I have a right to post information for buyers so they can negotiate fair deals.
frugalmarketplace
·2 months ago@wilwo314327
I am clueless as to where you got your figures.
wilwo314327
OP2 months agoEasy, I research gold prices and from there you can get melt values and use that to determine fair market value.