What's a fair price to get for unwanted Gold Jewelry?

the only way to get a fair price is to have a friend in the industry.  if you live in CT, i can suggest Iannelli Diamonds in the Diamond District of Manhattan (47th Street).  i'm not positive that they buy gold though. 

Literally though, if you go to buy quality jewelry, i'm not talking about Jared's here, you need to know the person you're buying from or they WILL rip you off.  that's the way the industry is.  So i imagine it is the same if you're selling it.  Ask your friends/family if they know a jeweler, and start there. 

You can find sites online to see the current value, but I can tell you that you will not get the going rates. Typically, the places that purchase gold from people like you and me, will give you about 50% of the value. They assume that you need cash bad and that is why you are selling. You would be better off selling it on Ebay or Craigslist in order to get the fair value.

Here is an example from an online company:

https://www.goldfellow.com/gold-prices.aspx

(spot) today = 1120.10 divided by 31.1(troy ounce) = 36.016 x .585(14k gold) = $21.06 a gram(what the refiner can pay at no profit.  

If you want to sell to an idv.  The 21.06 is what the refiner will pay that buyer.(If he/she has a direct connection)   So you as a whacky lib/seller can then decide how much profit your buyer should/will make.    When i sell, i think $3 bucks a gram is fair. 

10k = .417

14K= .585

18K= .750

22k = .916

24k= .999

Quote Originally Posted by TheGoldenGoose:



thanks fellas

So that example I used in post #1 (solid 14k necklace that weighs 18.6 grams) should fetch around $400 from a local buyer and maybe a bit more if I put it on ebay.

Don't want to be greedy, just want a fair price and not get screwed.

Wife and I are getting tired of Foxwoods Casino and need a change of scenery.  I'm thinking I could sell about six of these gold pieces, net a quick $2K, and finance a nice little three day Atlantic City excursion.
This could be the start of something big.

Based on your calculation above, you are expecting to receive above spot for scrap gold.  Not to burst your bubble, but that just is not going to happen. If you are able to find a buyer at that price, please by all mean share as I would love to sell at that price

If you look at past auctions on ebay, you will see that getting $20 per gram of 14K means you have done extremely well.  Unfortunately, that is misleading as ebay fees will cut into that substantially.  9% or $50 of final value +2.9% if buyer pays using paypal. 

My local coin guy pays about $16 per gram.  Unless you sell in one large lot (taking the $50 ebay fee as opposed to 9% of smaller lots) and unless you have lots of feedback, particularly from selling gold or large dollar items, I think you will have a hard time netting much more than that on ebay.

From my experience, unless you are selling large amounts of scrap to a refiner, (much more than 2-3 ounces of 14K) you will not get close to that amount.  If you know of a refiner paying out that much for smaller amounts, please share as that would be very helpful information