Having been in the Jewelry business.
I'm gonna pass along a few things.
Never ever buy jewelry at a mall. Or large store.
You gotta remember that normally businesses mark up items to make a profit. Keystone pricing.
However when it comes to jewelry many big stores will mark up the wholesale cost. Triple, quadruple keystone or even more is not unheard of.
Especially when a store needs to make up for expensive rent.
The store, for example, may purchase a ring for $500. Then mark the ring up to $2,999.
This gives them a nice profit. And then they can give you a discount even if they see you don't like the price.
They will say something like. "Normally this ring is $2,999 but I can give you 15% off."
And you'll be like wow I'll take it.
However in the end you come out losing. You just paid a premium price for something that's probably worth $250 bucks in material and workmanship.
To be safe always assume that you're paying at least 4 times the worth. More so if the store is extra nice.
Mom and pop stores tend to mark up less. Downside is that many smaller stores don't have as much in stock. But don't be afraid to order from a
catalog. You can end up saving money in the end.
If you live in a large city. There are jewelry centers that sell wholesale to jewelers. In miami we have the seybold building in downtown miami. Great
place to go and get some good prices. When I went wedding ring shopping I got the best bang for my buck. My wifes band was retail price for over 2K. I
end up spending under 1200.
Keep this in your mind. When you go to sell your gold to a store. They will buy it from you as scrap.
They will test it to determine whether it's 10k 14k or 18k.
Then they will weigh it and give you the scrap price in grams.
That price will be well under what you paid for said item.
I suggest in buying a cheap jewelry scale and weighing the gold yourself first.
Seperate your gold into the different gold types. 10k or 14k etc.
And figure out the price in grams for your scrap.
Here is something I posted a while ago on how to do exactly that.
Hope it helps.