Is it possible to change gold in Sunlight?

Do you have jewelry that you will never wear again? We are sure yes!

There can be a million reasons for the “jewelry cooling off”: jewelry went out of fashion about 15 years ago, but it still doesn’t deserve the title of vintage; they do not evoke the best memories of the ex (I couldn’t even fork out for a larger diamond); Colleagues on their birthday presented, proudly sparkling their eyes, something unimaginable with the words: “Oh, here’s a golden pendant with a sheep from us - when we saw it, we immediately thought of you, it’s just as funny”; Well, the most banal thing is that you have a thing that is not needed, and you can get money for it.

So, it is precisely for such cases that there is a jewelry pawnshop, which can safely be called a jewelry recycle. And this concept is quite consistent with the trend of responsible consumption, which many fashion brands are calling us to (H&M, for example, is launching #woldrecycleweek around the world in April, and this hashtag is already collecting millions of likes on social networks).

We decided to talk to the director of the SUNLIGHT pawnshop and purchasing department to understand how it all works.

How much does it cost to sell old gold?

Hand over gold

on average you can get it for 2,400 rubles – this is the price per gram. Although a lot depends on the product itself and international quotations for precious metals.

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What are the rules for accepting jewelry?

In fact, there are not very many rules here; jewelry stores are as loyal as possible to their customers. All you need is a passport of a citizen of the Russian Federation and an age of 18 years or older.

You can bring a product with or without a sample. The store that supports such promotions has special equipment that will allow you to independently determine the sample of the jewelry you brought.

You can bring any scrap precious metal, including broken, damaged, torn, etc. All the same, all the products will then be sent for melting down, so they won’t look at the rarity or uniqueness of the design, and you won’t be able to get any more money.

In the salon, they only look at the weight of the product, as well as whether the purity of the metal matches the specified sample. In this case, only the weight of the metal will be taken into account; inserts and stones do not add value.

What is a gold exchange

A person who has jewelry that is broken or out of fashion can always sell it or exchange it for a new one. Craftsmen process such products and give them new life.

Jewelry stores exchange old gold for new without any problems; you just need to pay a certain amount and choose another product you like.

Jewelry should also be donated in cases where a gold item was found or was inherited by a person. Metal absorbs someone else's energy well, and if the previous owner, say, died of a serious illness, then, of course, it is better to hand over such jewelry. It's the same with things found, who knows who the previous owner was.

How is the price of gold determined?

As we said earlier, the salon will determine the weight of the precious metal and its purity. Each sample has its own price, for example, here are the prices in force in the Sunlight network: from 1125 to 3290 rubles.

How are prices determined? They change depending on what transactions are carried out on the London Stock Exchange, and what rate is then set by the Central Bank of Russia based on them.

The calculation is simple - the sample price multiplied by the value. For example, by 0.585 (precious metal content).

In addition, jewelry chains add additional value, which should include labor costs for making jewelry. The fact that you brought yellow or white gold may affect the final price tag; the color depends on the alloy (copper, silver, nickel or palladium is added).

How does the exchange take place?

Each point that provides gold exchange services may set different conditions. However, all exchange points operate according to the same scheme. First of all, the master evaluates the appearance of the product. The jeweler must determine whether the gold is exchangeable, whether it is damaged, and whether it can be used for recycling.

Next, the owner must leave his product for examination. It is necessary to determine the authenticity and sample. This often takes several days. If the result is positive, then the exchange is carried out. The jewelry must be weighed in front of the client and all terms of the transaction discussed. If gold is to be processed, it is necessary to clarify the appearance of the future product and the cost of additional work.

If the client wants to return old gold in exchange for new gold, then he needs to calculate the difference that needs to be paid. There are also cases when the master refuses to accept the jewelry due to the presence of any defects. In this case, you need to find another exchange point that will agree to accept such gold.

What price would be fair?

In order to find out whether you are being offered a good price in a store or pawnshop, you need to focus on international standards and the official exchange rate in your country. For example, as of the date of writing this article (June 14, 2022), we see a value of 1737.60 USD per troy ounce of 999 fine gold.

A troy ounce is 31.1 grams. But since most gold products have a purity of 585, you need to do a recalculation: divide the gold rate by grams, multiply the current dollar rate (69.12), then by the purity and divide by a thousand.

If we look at our example, we get the following numbers: 1738/31.1*69.12*585/1000 = 2259.7 rubles. That is, on the international market it would cost you exactly this amount; the price on the domestic market may fluctuate around this value.

It is worth understanding that the cost of new jewelry includes not only the price directly for the material, it also includes the wages of a jeweler, designer, marketer, rental of retail space, payment of salaries to sellers, logistics, etc. Therefore, new products will be much higher in cost than scrap gold.

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Where is the exchange carried out?

Old gold can be exchanged for new gold in stores, workshops or pawn shops. Each of the three cases has its own nuances, advantages and disadvantages. Therefore, each of them needs to be considered in more detail.

Pawnshop. In this case, the seller can exchange the client’s product for any existing one with a certain surcharge. By choosing this exchange point, you should not count on any very advantageous offer. Consultants always count gold at a low price. The client will have to either choose from cheaper options or pay a hefty amount extra. The only advantage of a pawnshop is saving time.

Private jeweler. In this case, it is not necessary to exchange gold jewelry for new ones. The craftsman can recycle old gold into any product; you will only have to pay extra for the jeweler’s work. It would seem that this option is the most profitable, however, there are some nuances here too. There are a lot of scammers among private masters. Therefore, having chosen a jeweler and decided to exchange old gold for new gold, you need to collect reviews from friends, relatives or other clients about him. The main advantage of this option is the opportunity to choose an original decoration for yourself.

A jewelry factory operates in the same way as a private owner. However, in this case the risk of encountering a fake is minimized. You simply have to put a sample on the decoration. If we talk about shortcomings, the client may not always get the result he expected.

What not to do when exchanging

Trust your gold to strangers. Let's say you come to a jeweler who works from home. Even if he was recommended by a friend, this does not stop the master from slightly deceiving you.

He can take your jewelry and exchange old gold for new. But how do you know that it is gold without impurities and the required purity?

Another important caution: do not leave your jewelry as collateral. If you are offered to leave an item for the evening to be examined, be careful and beware of small private shops, since in the morning your item may no longer be there.

Requirements for decorations

Most often, most exchange points do not impose any requirements on jewelry. However, there are certain nuances that you should pay attention to:

often items of 350-850 samples are taken for exchange;
There may not be a sample on the item, the main thing is that the authenticity must be confirmed by examination;
Only adults who are financially responsible can participate in the exchange;
when exchanging, it does not matter what style and design the jewelry has;
in most cases, the exchange of gold jewelry for new ones occurs on a “weight for weight” basis, however, additional payment for work may be charged;
if there are inserts of any precious stones, then only the weight of the metal will be accepted for exchange, so it is best to use precious stones separately, for example, there are points for exchanging precious stones.

Jewelry factories, workshops

All jewelry is produced somewhere, and as a rule, in specialized factories where all the necessary equipment is available for this purpose. So you can go straight there. Factories are very willing to accept gold items, but they do not deal with issues of exchange and purchase/sale, so it depends on your luck. But you can still try.

Most likely, you will make a good exchange, and right at the factory, for a small fee, they will quickly remake your product into something new that is interesting to you.

To summarize, the conclusion suggests itself - go to a jewelry store. It's honest, profitable and reliable. In second place, perhaps, are jewelry workshops (roughly speaking, factories). One thing is definitely correct - it is better to sell gold jewelry that you do not like or exchange it, because it should give aesthetic joy and pleasure!

Option 2. Order from a private jeweler.

After what I write, all the jewelers will sue me.

If you are not the Queen of England, the President of the country or a simple oligarch, think three times before ordering jewelry from private jewelers. It would seem there are no tricks. A friend of yours recommends a jeweler who once did something for him or a friend of his, and very well. You give him the old gold, pay for the work, and in a couple of weeks he makes a completely new exclusive product from your gold. And you go around, proudly telling everyone that it was made to order by a jeweler you know. Everyone oohs and ahhs with envy, boosting your self-esteem until...

True stories retold by pawn shop appraisers and jewelry store salespeople. A man comes to hand over a piece of jewelry. The conversation goes something like this:

– I want to pawn/change/surrender this 585-carat gold chain.

– Sorry, but there is no hallmark on it, and we accept such products according to the 500th hallmark.

– But there’s a mark there, isn’t there?

– Yes, it’s unclear what manufacturer there is, but there is no sample. In addition, we must test the gold with a reagent.

- What is there to check? My friend (sometimes they even say family) jeweler made this for me to order. Okay, check it out.

– Sorry, but testing with reagents showed that the gold is not 585-grade gold / not 500-grade gold / not even 375-grade gold / not gold at all.

– ???

I'm not saying that all jewelers are liars and scammers. The absolute majority are honest and talented people. But such stories are not uncommon.

Ask the jeweler how he will set the sample . I don’t know how it is in Russia and other countries, but in Ukraine only the Assay Office can test gold items. The manufacturer has the right to put only his mark, but not the sample. There is an exception: some large manufacturers have the appropriate license and put the test on their products themselves. And one of them, by the way, is abusing this. Some products from this company do not pass the 585 test.

But this is also an exception. Everyone else takes gold products to the assay office, which checks the consistency of the sample and puts a hallmark on the product. It costs a little, but it takes time. And it is not profitable for a jeweler to spend time on one product. That's why some people are cunning: instead of the sample they use something vaguely reminiscent of it. And the client is satisfied, thinking that the sample is worth it, and the jeweler does not fall under the article.

So, only order from a jeweler you completely trust.

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