Big Boys Hobbies

What Should I Do?

JoeHogan

JoeHogan

New Member
Joined
Jan 31, 2015
Messages
25
Location
Greenville County,SC
I posted my find of this ring about 2 weeks ago but I finally went to 2 jewelery store this week.The first store looked at it and determined it was 14kt gold.It doesn't have the kt markers inside of it but it has some kind of engraving inside of that says "Berruzzz" or something like that.It has 14 kt barely etched in it.The first jeweler could not or would not give me an appraised value but she weight it and told me it was about $70.00 in scrape gold.
Went Kay's Jewelers today and she placed it under a microscope with a light shining through it for an examination.She verified it was 14kt gold and that the name might have been the maker.She said the ring had been worn a great deal because of the way the engraving appeared.The she appraised it.She said $400.00 and my jaw hit the ground.I had a Ric Flair moment The question I have is what should I do next? Should I get it appraised again?I believe it has historic value.I have been trying to date it by m.d.ing the spot I found it in trying to found something else that I can date it by.It came out of a pile of dirt that had been excavated and just piled up for about 6 years.I don't know where the pile came from. What should I do next?
 

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Well what I would do is sell it , but thats just me :lol:


Appraisal is different from value. If you were to sell it you wouldnt get what it was appraised for.
 
Had too many bad experiences at jewelry stores. Most will rip you off big time. Remember an appraisel is different than what they will pay you for it. Took 3 14 k rings to two local stores and the highest quote was 125.00 or 200 store credit. Sold to ARA for 525.00. Never delt with jewelry stores again. ARA has my business. GL. Tom
 
I had not though about selling it yet.This is my first one so it is kinda special to me.I know they will rip you off big time because I have seen it happen before. I was just wanting to know how it was worth in today's terms and that why I got it appraised.Can anyone post more info about ARA?.
 
My Opinion

I'd hold on to it, or sell it and buy silver coins with part of the profits. I keep all my finds of precious metals at this time, but I am considering selling my gold finds to ARA and buying silver or smaller denominations of gold coins.

HDD
 
If you like it spend a few bucks to have it sized for you and polished up like brand new.

The truth is most jewelry is worth what the metal will scrap out at, and aragold.com pays 98% of the Gold content which is really good.

Good hunting to you! :grin:
 
The painful reality, it's only worth, what a buyer is willing to pay for it... You can collect all the numbers possible, but it's only a reference. Still comes down to how badly you want it sold, and how badly someone is wanting to buy.

If you want or need the cash, simplest would be to sell it for melt. Since the apraisal is considerably more than the content, it's got some age, nice style. Might be worth taking the time to sell it, as a ring. Never know, that style might have a special meaning to someone, and want it really bad...
 
I went to the ARA website and it looks like they don't deal with the public, only businesses. Are the guys selling to this website all businesses or am I missing something?
 
Right now might not be the best time to sell gold, but if you need to then ARA is the best I have used. Download the form from ARA's site under shipping. Download form and in account name write metal detecting and tax id is your ssn. If you have ? just call them. GL. Tom
 
Nice ring - looks a little like Art Deco period to me (early 1900s), but not sure. Concerning the appraisal, there's a jewelry store near me that used to advertise that "our rings appraise for double their price". What the heck does an appraisal mean then?
 
Please correct me if I'm wrong but I believe the appraisal is just the cost it would require to replace the item at market value for insurance purposes. At least that the best I can figure from watching Antique Roadshow.
 
While it's neat that it got appraised for $400, I don't think you will get much more than scrap prices for it. You can always clean it up, throw it on eBay and maybe you'll get lucky.
 
If it's your FIRST...

Then if it's a man's ring, re-size it and wear it proudly. Show it off to everyone and tell the story of how you found it.
 
There is usually a great variation in what gold and silver buyers will give you. I sold a large set of sterling flatware two years ago. I went to 14 buyers and from high to low there was a $1000 variance. $1000!!!

In the newspaper was an ad that a buyer was in town at a hotel and guaranteed to pay top dollar. When I got there, there were three buyers and about 20 sellers. They offered me $700 below my top offer which I had written and signed on the buyers business card. I loudly decried their offer and supposed top dollar claim. Suddenly all the sellers vanished!! The buyer sheepishly agreed to match the top price. I told him if he couldn't top it by at least $25 I was walking.

I got the extra $25

Nice ring, by the way.
 
Those "hotel" buyers come here about twice a year. They scam people out of their precious metals. They pay no where near melt. Dont ask a jewelry store for an appraisel. Ask how much they will give you for it, there will be a big difference. Jewelry stores give about 30% melt value, ARA gives 95-98%. GL. Tom
 
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