when buying jewelry?

me and a friend were at one of those jewelery stores where you can get your gold jewelry weighed/exchanged.
so anyway, my curiosity perked as to how a final price is determined, and he answers in the affirmative i.e it is $/per gram. okay khair, but as I done some further "probing" into the price determination, he suddenly turned around and said "nah i'll give it to you for $x" (i.e a lower amount as was originally stipulated) which made me think that he was telling me porkies to begin with and that he wasn't really sticking to the "$/per gram rule." ^o)

Also i find it weird though that there is no set standard when it comes to gold exchanging, meaning 6 months ago my friend bought 3 bangles from his store for $x and this time when she wanted them exchanged again, they were $y (i.e abit more expensive).

he also said that the final price is determined by whether or not the item is second hand then they lose value (obviously). but i find that odd when dealing with gold, becuase well its gold and there should be a standard for somethign that valuable, no?

and oh yeah when there is a gem included in the item of gold, it adds on to the price? i understand that, but not; becuase if we are weighing the gold (and yes it is only the gold that is being weighed not the gem), so why should it have an effect?


is anyone more knowledge with this stuff than me that can help out?

The prices of gold change according to how good the economy is, I think.

I'm not sure if this will help but when you buy gold jewellery you are paying for the labour as well. But when it comes to selling/exchanging, you only get the value of the scrap. Tiny gem stones, even diamonds, don't hold much value either.

Greetings and peace be with you Umm ul-Shaheed;

I worked in a jewellers shop about forty years ago, they worked on the principle of buying for the lowest possible price and selling for the highest. We did not put selling prices on second hand goods, rather we put a code price of what the item cost,

based on HONEST LADY,

H=1
O=2
N=3
E=4
S=5
T=6

So if someone wanted a ring for a hundred pounds we looked for anything we had that costs less that £50, or even £20, the ticket might read OS, which means we paid £25

I never really witnessed fairness and honesty in the second hand jewellery market.

There is a more tragic side to gold watch this video, gold for bread.

http://www.youtube.com/watch?v=7ubJp6rmUYM&feature=featured

In the spirit of praying for justice for all people

Eric

The price of gold keeps changing everyday like the stock market. Gold and Petrol and other commodities have their prices listed wherever you can see financial indices. So when buying Gold you can see the price online or in your local newspaper in the business section.

Second hand sale and purchase is completely between the buyer and the seller and there can't be any official rule affixed to its practice, I think.