RP that is precisely the way it is done in jewelry shops. You listed a "market price" (not sure where you got the number from though) and jewelers do not sell at the spot price. They add a mark up for craftsmanship and profit.
Gold on the second hand market is sold by the scrap metal price typically regardless of the craftsmanship and is sold or bought at market value as dictated by the spot price minus its non gold elements.
They call it the American dream because you have to be asleep to see it... --George Carlin
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RP that is precisely the way it is done in jewelry shops. You listed a "market price" (not sure where you got the number from though) and jewelers do not sell at the spot price. They add a mark up for craftsmanship and profit.
Gold on the second hand market is sold by the scrap metal price typically regardless of the craftsmanship and is sold or bought at market value as dictated by the spot price minus its non gold elements.
They call it the American dream because you have to be asleep to see it... --George Carlin
The current market value for one ounce of Gold is 895 USD.
How many grams there is in a ounce of Gold?
Do your math my friend.
Honestly, The sales of jewelry made in Gold, should not be sold depending on the type of Gold purity per say: 14-18-24 KARAT.
It should be done base on the market value and weight only.
Unfortunately it does not work like that.
I hear St. Patrick was an Englishman!"
It depends on the condition of the sale. Is it jewelry or scrap?
That is about right for jewelry from a dealer. The scrap rate for 18K was £9.72 today... about $18 or so....
They call it the American dream because you have to be asleep to see it... --George Carlin