Knowledge About Gold
A gold jewelry piece is a value-maintaining investment which you can wear and be proud of. Enrich your knowledge about Gold with the points below:
- Before any currency in the world Gold was recognized as a thing of special value and used in trade instead of money.
- Gold can be easily and universally liquidated into cash and its value is not lost with inflation or currency fluctuations.
- In Lebanon and globally, gold has always been used in high-end fashion and given as gifts. At Karen Boghos Jewels we use gold in our designs based on the customer’s wishes and taste.
- Gold used in Jewelry is mixed with other materials to make it more durable and these mixes generate different colors of gold (white, yellow, rose). When used in Jewelry it is more expensive due to the added value of craftsmanship.
- Mostly used in Lebanon is 18K gold. (18K or 24K indicates the metal’s purity).
When Buying Gold Jewelry
- When buying gold jewelry, it is smart to compare the requested price against the actual gold prices in the daily gold stock market. Note that the total price will also include the price of other gemstones used in the piece, craftsmanship cost, and the seller’s profit margin.
- Sometimes you will find similarly designed jewelry piece at a lower price, but the lower price could be justified by the less quality finishing of the piece.
- The price of any gemstones used in the design will depend on the stone’s nature and quality. (For more technical info refer to our other articles)
- Be aware of gold coated/plated jewelry which isn’t a favorable investment since the jewels have a thin gold coat that doesn’t weigh as much as a similar piece of pure gold and will wear off in time. Gold coated piece price will be for the design, labor and brand image: the material has no resale value.
Expand your jewelry knowledge and know how to properly evaluate a piece and estimate a price using our Gold price calculator! Subscribe below or send us an email and we will send you this tool for free!
Tips before Selling Your Gold Jewelry
- When you sell a piece gold jewelry, what you will get is the scrap value of the gold raw material, which will fluctuate based on the trading value that day. If the piece, has a useable design in current fashion, is rare or has a meaningful and documented past then it could fetch a higher value than the calculated price.
- You cannot expect to sell at the original price. Your selling price will depend on the market value of the gold. Since gold prices vary daily it is essential to check it on the day of sale.
- Note that the calculated price when selling a gold piece is exclusively for the Gold! If your piece has other precious stones remove them before the sale, or ask the buyer for separate prices for them
Contact Karen Boghos Jewels
Armenia Street, Bourj Hammoud,