San Diego Estate Buyers at 861 Sixth Avenue, San Diego, CA 92101

Contacts

Address:
861 Sixth Avenue, San Diego, CA 92101
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Phone number:
+1 619-239-2500

Website:
sandiegoestatebuyers.com

Categories:
Establishment   Finance   Jewelry store  

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Reviews

• A Google User
  ★ ★ ★ ★ ★
  After spending much time looking for information on where to sell my gold on the web, I found most of the material to be confusing and misleading. Visiting various retailers wasn't that much more helpful as most of them were less than transparent on how they were valuing the gold. I received a quote of $370 at Fashion Valley, where they did a test to claim that what I thought was 24K gold is actually 18K. When I told them the price seemed low (even at 18K) they just said that there is a processing commission (turns out that's another word for profit) and they can't explain how they quote gold. It doesn't take a much to realize that if gold is selling at $950 an oz and that even accounting for the 18K gold that there is about an oz of pure gold that $370 is almost a 200% profit margin. A jeweler by the San Diego UTC said it was 22K and offered $590 and Carl who buys and sells gold all the time, told me it is actually 24K and paid $980. Carl was very honest and upfront about how he valued the gold. In fact, he is the only one I met who actually allowed me to double check his calculations. I strongly recommend trying this so you can see how much of a profit margin you are giving to other jewelers.
  
  Once you have the weight of your gold in grams you can convert it to troy ounces (1 troy ounce = 31.1g) to see how much it is worth using today's gold prices which are always reported in troy ounces. Pure gold 24K is 99.9%. Anything lower than 24K is simply a fraction of that, so 18K is 18K/24K=75% gold. Carl's 15% commission is easily calculated and is very fair. You will also find that other places (as I found) actually charge as much as 100% to 300% commission.
  
  Don't get robbed, get an estimate from Carl and ask him to explain the process. If you have any doubts Carl's store is at the Jewlery Exchange where there are like 20 other jewelers buying and selling gold. It is easy enough to go and get a few competing quotes.
  
  I have not found anyone who is more easy to deal with and who explained the process and the various things to look out for. For example, Carl is the first person to alert me to the refinery scam, where most refineries aren't really refineries. It turns out that for pure gold a refinery isn't even needed as most jewelers can work with pure gold. He also told me that when gold is not properly stamped, many places will tell you its of a lower quality than it is. I saw this first hand. Be careful of some of the tests, for they may not be accurate (especially for 24K) or they can be doctored. If it looks and feels like 24K get additional opinions and validation before you believe it isn't. I would highly recommend getting a quote from Carl, before selling your gold.

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