Diamond Designs See Consumers Cash in on Gold Jewelry
New Haven, CT, November 27, 2009 --(PR.com)-- There’s a new kind of gold rush hitting the streets today in light of rising oil, gas and utility prices.
Consumers everywhere; White-collar, blue-collar, retirees and many others have been digging through jewelry boxes, dressers and safety deposit boxes to cash in as the price of gold still hovers over $1,135 an ounce. Everything is fair game when it brings this kind of profit - old wedding rings, hand me down gold pieces, necklaces from ex-boyfriends, and even class rings.
“We have seen the increase in consumers selling in old gold pieces, diamonds and platinum since the beginning of 2008,” explained Dee Dadlani, Resident Jewelry Designer at Diamond Designs in Orange. “There isn't a man or woman in America that doesn't have gold jewelry, diamonds pieces, platinum, watches, or other objects of value they no longer wear, use or enjoy. There are literally billions of dollars tied up in beautiful objects that are unused or unwanted. This money could be spent for other things, or it could be re-invested. Many trade in old jewelry for new or better quality pieces as well,” said Dadlani.
How much is one’s unwanted wedding band or damaged gold bangle bracelet is worth? Here's a brief tutorial about gold prices:
· The price of gold based on a troy ounce of 24-karat, or pure, gold. A troy ounce contains 31.1 grams, or 20 pennyweights.
· Gold less than 24K is discounted proportionately: 18K is 75% pure gold, 14K is 58.3%, and 10K is 41.7% gold. Gold jewelry of 10K or more will have a karat stamp.
“The jewelry is melted down, not resold. There are a variety of reasons that people come into a jewelry store to sell old jewelry”, Dadlani said. “The most popular reasons for selling are:
Investment - The proceeds from the items sold could be collecting interest instead of dust. In the past people were reluctant to convert these assets from one form to another, but today it's a common practice. Wealthier clients are constantly selling and buying jewelry. They have always understood the practicality of disposing of their unused items.
Pleasure - New found money could be used to buy something for the home, family or personally; maybe even a dream vacation.
Heirs - It's often difficult to divide jewelry fairly among family members. Selling it and sharing the proceeds from the sale is much easier.
Intelligent choices
Some people are hesitant about selling jewelry and other valuables, for fear that it will appear that they need the money. Actually, 95% of the people who sell their jewelry are doing so for other sound, intelligent reasons.
“Anyone interested in selling old gold or diamond jewelry needs to be cautioned,” continued Dadlani. “You should expect your transaction to be handled in a safe and above board manner from a reputable jewelry store. Unfortunately, anytime there appears to be an easy way to make a fast dollar dishonest people get in the game. Be cautious of companies that suggest you send your valuables in a "kit' or an envelope and drop in a mailbox. You are taking an unnecessary risk of loss or theft.”
Diamond Designs is a family owned and operated. For 32 years, the Dadlani family has specialized in wedding and engagement rings, gold, watches and fashion jewelry. They are located at 500 Boston Post Road in Orange. For more information, call Diamond Designs at 203.799.7999 or visit www.dia-designs.com
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Consumers everywhere; White-collar, blue-collar, retirees and many others have been digging through jewelry boxes, dressers and safety deposit boxes to cash in as the price of gold still hovers over $1,135 an ounce. Everything is fair game when it brings this kind of profit - old wedding rings, hand me down gold pieces, necklaces from ex-boyfriends, and even class rings.
“We have seen the increase in consumers selling in old gold pieces, diamonds and platinum since the beginning of 2008,” explained Dee Dadlani, Resident Jewelry Designer at Diamond Designs in Orange. “There isn't a man or woman in America that doesn't have gold jewelry, diamonds pieces, platinum, watches, or other objects of value they no longer wear, use or enjoy. There are literally billions of dollars tied up in beautiful objects that are unused or unwanted. This money could be spent for other things, or it could be re-invested. Many trade in old jewelry for new or better quality pieces as well,” said Dadlani.
How much is one’s unwanted wedding band or damaged gold bangle bracelet is worth? Here's a brief tutorial about gold prices:
· The price of gold based on a troy ounce of 24-karat, or pure, gold. A troy ounce contains 31.1 grams, or 20 pennyweights.
· Gold less than 24K is discounted proportionately: 18K is 75% pure gold, 14K is 58.3%, and 10K is 41.7% gold. Gold jewelry of 10K or more will have a karat stamp.
“The jewelry is melted down, not resold. There are a variety of reasons that people come into a jewelry store to sell old jewelry”, Dadlani said. “The most popular reasons for selling are:
Investment - The proceeds from the items sold could be collecting interest instead of dust. In the past people were reluctant to convert these assets from one form to another, but today it's a common practice. Wealthier clients are constantly selling and buying jewelry. They have always understood the practicality of disposing of their unused items.
Pleasure - New found money could be used to buy something for the home, family or personally; maybe even a dream vacation.
Heirs - It's often difficult to divide jewelry fairly among family members. Selling it and sharing the proceeds from the sale is much easier.
Intelligent choices
Some people are hesitant about selling jewelry and other valuables, for fear that it will appear that they need the money. Actually, 95% of the people who sell their jewelry are doing so for other sound, intelligent reasons.
“Anyone interested in selling old gold or diamond jewelry needs to be cautioned,” continued Dadlani. “You should expect your transaction to be handled in a safe and above board manner from a reputable jewelry store. Unfortunately, anytime there appears to be an easy way to make a fast dollar dishonest people get in the game. Be cautious of companies that suggest you send your valuables in a "kit' or an envelope and drop in a mailbox. You are taking an unnecessary risk of loss or theft.”
Diamond Designs is a family owned and operated. For 32 years, the Dadlani family has specialized in wedding and engagement rings, gold, watches and fashion jewelry. They are located at 500 Boston Post Road in Orange. For more information, call Diamond Designs at 203.799.7999 or visit www.dia-designs.com
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Diamond Designs
Lynn DeJoseph
203-799-7999
Lynn DeJoseph
203-799-7999
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