Trying to sell gold jewelry is similar to hiring an electrician, except that there is an overwhelming stigma surrounding gold buyers that has grown from years of hidden prices, clandestine weighing practices and unscrupulous business owners. We at Alexandria Gold and Silver are here to change that, and we actually already have.
Alexandria Gold and Silver was founded on the 90% payout model. Before us, public payouts were anywhere from 50-70%. My friends in the business told me that there was no way I could pay the 90% and make a profit and honestly…… it took awhile.
But I was right.
I knew that while paying 90% would mean razor thin margins we would eventually grow in market share and make the money on client retention and acquisition. Basically, we would be the best and people would find us. That is exactly what happened! Volume is key.
Now, Back to selling gold compared to hiring an electrician:
When you hire an electrician it is hard to find his profit margin ( these wires cost X and those lights cost Y and his time is Z ), and therefore its tough to figure out if you are getting a good deal or not. With gold buyers you can figure out EXACTLY what you are getting and what their margins are, which is how we at AGS are destroying the stigma associated with the industry. There are three numbers you need to know when shopping your jewelry around:
The updated spot gold price Found here: http://www.bulliondesk.com/
The karat of your gold Explained here: http://en.wikipedia.org/wiki/Fineness
The weight of your gold Found here: Any food, postal or jewelry scale and convert to grams or pennyweight here: http://www.onlineconversion.com/weight_common.htm
With these three numbers you can shop around and figure out exactly what different gold dealer’s margins are and if you are getting a good deal or not. Much easier than pricing out most tradesman, you have the exact value of your product which is the ammo you need to find the best deal.
You have the tools to figure out precisely what your goods are worth, it is up to you to find the dealer with the best margins. There are currently 12 gold buyers within a 30 mile radius of our office, and if you are willing to drive farther the options are almost endless. Take some time and call around and have some fun with it. Believe me, in your quest you will talk to some interesting characters. Please give us a call too.
Jarrod and Alexandria Gold and silver
6911 Richmond Hwy Ste 310
Alexandria, VA 22306