There was a recent "Hidden Camera" story on a local news station. I feel the story in general has merit, in that it exposes those who are paying well below the average prices paid. But I want to explain a few key issues with the "Test", creating a situation that the average consumer will get much less than they should for their Jewelry. There is more to selling your Jewelry than tearing it apart for just the gold. If you read this page, you will clearly understand what I am saying.
The "test" involved someone going around with a larger than the normal amount of just gold, that is gold with no diamonds or gemstones. Most people have an assortment of Jewelry, some just gold, some with Diamonds and Gemstones. Some of the real life items people bring in are sellable, some are not. So it simply did not reflect what the average person will be tying to sell.
Because we are Jewelry Buyers, not just Gold Buyers, we pay for the Gold, Diamonds and Gemstones. The story does not explain that many of those that rated "higher" don't pay for or pay very little for the diamonds and gemstones. Some will "break out" the gems for you giving them back to you. So you sold the gold part of your jewelry, and now have a baggie of diamonds and gemstones to try to sell. The total price a Jewelry Buyer would have paid for all the items intact could be higher than total of the highest gold price and the price you can sell the baggie of gems for.
Since most will have a mix of Jewelry items, all you may need is just one re-sellable item to come out ahead. As an Established Full Service Retail Jeweler, we can pay you more for resalable items, we can pay you more for scrap items that can be used to make new Jewelry.
Another way to explain this is that the "Gold Buyer" pays a premium for the most liquid (the easiest to resell) leaving you with a baggie of the least liquid to sell. The gold can be sold the very next day for a profit, the buyer of the baggie of gems could take weeks, months, or years to resell. (Even Decades for some gems).
Now let me explain in simpler terms, if you have a drivable BMW, would you tear out the Engine so you can sell the steel to a scrap dealer ? NO WAY! You would bring the BMW to a car dealer to sell it !
So why bring your Jewelry to a scrap buyer, when you may be able to sell it as piece of Jewelry ??
Another missing key for the consumer, a Jewelry Buyer can offer many more options than the Gold Buyer. We offer a consignment program that allows consumers to sell their Jewelry in Our Store for up to 7 times more than selling them outright. This program works for Jewelry with or without Gemstones. Just one of your items selling on consignment in Our Store could bring you more than all the other items combined.
Again, look at my BMW example above, are you selling just scrap gold, or are you selling Jewelry. Do you need a scrap buyer or a Jewelry Buyer - can you tell the difference between the two; Scrap or Jewelry?
To bring you the very best options, as "Jewelry Buyers" we have three 25+ year Jewelry Industry Veterans and a Graduate Gemologist handling most of the "buying". This level of experience creates your many options by properly sorting your Jewelry, and deciding which items can be sold on consignment and at what price ! Our testimonials point this out over and over again . .. "The staff knowledge, and the options we offer put a lot more money in their pockets" . . . Something a hidden camera story can't tell.
Who is better qualified to tell the difference between Scrap and Jewelry, someone who's only experience is buying gold for a year or a Respected Jewelry Industry Veteran with 25+ years of experience ??
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Are You Selling Jewelry ?
Are You Selling Scrap ?
OR
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Link to KMOV Geat Day Video
The Do's & Don't's of Selling Jewelry
St. Louis Gold Buyers Recently featured on
KMOV 4 Great Day to the Left
KTVI Fox 2 to the Right
Link to Fox 2 Video
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We have a list of testimonials of people who will state simply, we did everything to squeeze every last dollar for them. In most cases delivering way more money to them than any of the "gold buyers" mentioned that paid more for the unrealistic mix of gold in the "test". (Check out the testimonial page, all real people who had a real mix of items with real reasons for selling their Jewelry).
I will not claim to always be able to deliver the top dollar for every situation, but will always be close. And for items that I feel you are better served elsewhere, we have and will continue to refer them to those places.
The final thing, you have my word that we will do Our very best to solve your true needs, and deliver the utmost return to you. Our very reputation lies with what Our team of buyers can deliver to you.
Leo Anglo General Manager and Main Buyer
What We Learned to become Better !
We are not challenging the Hidden Camera Test, as it is a simple example.
It is not common for people to come in with 77.8 grams of just scrap type gold . . .for those who have sold large quantities of just Gold to us, you all know we have and will pay a much larger amount. In extreme large quantity cases, we pay an amount that none of those that ranked higher in this test come close to. (See testimonials)
It is simply more efficient to buy 100 grams of gold from one person than the same 100 grams from 12 different people. Somehow our system broke down on paying the bonus amount on that deal, and did not offer the higher amount.
Regretfully I was out of the store on the day of this hidden test, clearing snow from walkways at a retreat center that I volunteer at. Since we log the details of all buys/quotes in a book, This transaction was reviewed and discussed the very next day at our meeting on January 22, well before we heard about the hidden test. We had no way to contact the person for this deal, but addressed ways of preventing the error from happening in the future.
