GoldPaq

Do you love jewelry? Do you enjoy going to flea markets, thrift stores, or even pawnshops to look for interesting jewelry items? If so, then read on – you’re about to find out a way to both finance your hobby and get jewelry pieces that will be the envy of all your friends.

Let’s start with gemstone jewelry. If you love gemstones, then you know how expensive jewelry made with gemstones can be. When you buy a new piece of gemstone jewelry, you are paying for several things, including the design of the item, the metal incorporated in the design, and of course the gemstone itself.

If gemstone jewelry is your thing, then get thee to the pawnshops, flea markets, and thrift stores. What you’re looking for is this: gemstone jewelry for bargain prices, no matter what it looks like. That’s right. Look for the items that no one else would touch with a ten-foot pole. No matter how tacky, gaudy, out-of-style, or just plain ugly, look for the jewelry that contains the gemstones that you are interested in. Some good finds include cocktail rings, cluster rings, gemstone pendants, charm bracelets with gemstone charms, and, surprisingly enough, school rings. School rings are a particularly good find for gemstone hounds because they often contain large stones, and personalized items like school rings are often difficult to sell.

The only caveat in your jewelry sleuthing is to make sure the pieces you buy are set in genuine gold.

Why gold? The gold in these jewelry pieces is your key to new jewelry using the gemstones the items contain. Here’s how it works: you take the gemstone jewelry that you’ve picked up for a song to a jeweler. Have he or she take the gemstones out of the jewelry. Now, contact a gold broker like Gold Paq, and sell the gold. Chances are, the money you get for the gold will equal or surpass the amount of money you paid for the piece of jewelry, depending on how good your bargaining skills are. The money you make can now be reinvested in the gemstone, buying you the setting of your choice. Now you have a semi-custom or custom piece of jewelry, all for the price of an undesirable piece. Simple, right?

It’s simple as long as you make certain that the pieces that you are buying are genuine gold. Most fine jewelry is 10, 14, or 18 karat gold, and the higher the karat weight the more gold contained in the piece, which, naturally, translates to a higher value. The best way to find out whether or not the pieces are genuine is to look for the karat stamp somewhere on the jewelry. On a ring, the karat stamp is located on the inside of the band; on a necklace or bracelet, the karat stamp is usually found on the clasp or, if the item has a smooth underside, on the underside.

Knowing how to bargain with sellers can make this jewelry-remodeling hobby more profitable. Never pay the asking price; if you want the piece for 25% off, first offer 50% of the asking price – this gives you room to negotiate. If the seller refuses to negotiate the price, ask to have something else thrown in – for these purposes, a gold chain or bracelet makes a good negotiable point. You can sell the gold chain or bracelet along with the gold from the gemstone piece, and make a tidy profit.

For even more savings – and a higher profit – consider sterling silver or gold-plated silver for the settings for your new gemstone jewelry items. White gold and platinum are increasingly popular metals for jewelry, and sterling silver is a great substitute that costs a fraction of the price. Sterling silver is a precious metal that is attractive and wears well; for fashion or everyday jewelry pieces, it’s a great option. While gold-plated items do not wear as well, they can be perfect for lesser-worn items, or for items that are not as exposed to scratching and rubbing, such as earrings or pendants. Using these metals will greatly increase the profit margin you see when remodeling old jewelry items by selling the gold content for cash.

When shopping the thrift stores, flea markets, and pawn shops, don’t dismiss or overlook broken or damaged jewelry items, which are a great way to increase your profits and have more money to use for your own jewelry creations. You can often get these items dirt-cheap because they have little or no value as jewelry; however, if your plan is to sell them to a gold broker for cash, the fact that they are not wearable as jewelry makes no difference at all. The idea is to buy them for the gemstones, not the jewelry itself. Pieces to look for include earrings with no mates, rings with warped or broken bands (very common in older jewelry pieces), pins with missing or broken clap mechanisms, bracelets that are broken or missing some stones, and, of course, broken necklaces. You’ll also find it easy to negotiate prices on these items, as the sellers are often aware that selling them as-is is unlikely.

Gemstone jewelry isn’t the only way to make money and get great jewelry for yourself by shopping the flea markets, thrift stores, and pawnshops. Don’t overlook heavier gold pieces in unfashionable or just unattractive designs that can be sold for cash to a gold broker. The cash you get for these items will help bankroll your own jewelry designs.

When buying gold pieces for resale, your best bets are definitely the pieces that are past their prime, personalized and/or no longer in style. Some of the usual suspects include anything with a gold nugget design, monogrammed or signet pieces, school rings, the heavier gold chains that have gone out of style, and pretty much anything else that is so unattractive that it’s unlikely to sell. While these items have little or no value as jewelry, they are just what gold brokers are looking for – post-consumer gold for a hungry gold market.

Probably the best secret weapon in your gold-digging jewelry hunts is buying multiple pieces. You are more apt to get a sizable discount if you buy more than one item; a mix of items with gemstones you desire and gold pieces that can be sold for cash outright will usually give you a good return on investment.

Whether you are buying in multiples or buying by the piece, look for gold sellers who are going out of business or liquidating stock. These vendors are often looking just to break even, and the markups are typically slim, if there is any markup at all. This is also another great opportunity to look for damaged goods; if you do not see any on display, don’t hesitate to ask.

The enterprising jewelry lover can grow a unique collection of jewelry that will virtually pay for itself by combing the thrift stores, flea markets, and pawnshops for pieces of jewelry that are ready for recycling. All it takes is a willingness to bargain-hunt – and a love for jewelry.

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