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Re: Tonight's Auctions

By: Decomposed in 6TH POPE | Recommend this post (0)
Wed, 08 Nov 23 3:46 AM | 32 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 47253 of 58610
(This msg. is a reply to 46263 by Decomposed)
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Re: “I bought an 18" or 20" 14k gold chain for $140 + 15% Buyer's Premium.”The necklace was 7 grams. The scale wobbled between 7 and 8 but settled on 7 so that's what I'm using. At $1,967.90 per troy ounce of gold, the 14k necklace is worth $259.17. That ignores the jewelry aspect of it. I spent $140 plus a $28 seller's premium, so $168. I did okay, but it wasn't the extraordinary deal I hoped for. There's only so much you can do when you're forced to guess the weight of jewelry when given nothing but a photo and that it's either 18" or 20" long. (It turned out to be 20".)







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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months

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Re: Tonight's Auctions
By: Decomposed in 6TH POPE
Sat, 30 Sep 23 5:49 AM 		Msg. 46263 of 58610

re: "Sunday night's auction... I bought an 18" or 20" 14k gold chain for $140 + 15% Buyer's Premium. My wife thinks I paid too much. I don't think so. This is one of the few times when I wish there was a jewelry store nearby."

My wife and I stopped by a Macy's today to get a feel for what Sunday's auction necklace might be worth. We found an 18" 14K gold chain being sold for $650. But they had a 40% "sale" on jewelry, so I guess it would have been $390. Then they had another discount if we'd buy it using a Macy's credit card. That would have brought it to about $250. That makes my $161 ($140 + 15% Buyer's Premium) necklace seem like a good deal - but nothing to write home to mom about. Except . . .

The Macy's necklace was ½ mm wide. As shown below, the auction necklace is ⅛ inches wide. Inches, not millimeters. That's three mm. Six times wider than what Macy's was selling.

Beldin is right that until we weigh it (or sell it), we don't really know what it's worth. I don't have a milligram balance, so I can only conclude that we did all right. Probably better than all right. If I find more such necklaces in the future, I'll bid with a bit more confidence.

My wife's going out tomorrow to pick it up. I'll have my fingers crossed that it's really 3mm, but that's what it looks like when I futz around with the auction house's photo and lay the measuring tape across the chain.

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