How the Economy Affects Gold Prices

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Gold is a material that is notorious for its constantly-fluctuating prices and the seemingly random rates at which that price changes. Former Federal Reserve Chairman Ben Bernanke once famously told Congress that, “nobody really understands gold prices, and I don’t pretend to really understand them either.” The average resident of Orange can’t be expected to comprehend the complicated logistics of pricing gold and the minutiae of economics that affect it. That being said, understanding some of the basic factors that affect the value of gold is beneficial when you want to buy or sell. 

Value of the US Dollar

The value of gold around the world is priced in US dollars, so the value of the dollar has a considerable impact on the price of gold. The stronger the US dollar is, the lower the price of gold will be. When the US economy is weaker and the value of the dollar goes down, the price of gold will generally increase. Everyone falls on hard times, and an economic downturn likely affects you in a way that makes it difficult to hold off on selling your gold for cash if it’s needed. However, if you do want to ensure that you’re receiving the most value for your gold jewelry, it’s ideal to wait for a time when the US dollar is especially strong.

Central Banks’ Gold Reserves

Countries’ central banks, or reserve banks, are the banks that manage the country’s currency, money supply, and interest rates. These banks hold large gold reserves in order to strengthen the nation’s currency, since having tangible assets tied to the currency makes it more reliable. When central banks purchase gold, it causes the value of gold to increase. Recently, Asian and European banks, especially China and Russia specifically, have begun purchasing small amounts of gold, which has resulted in an increase in gold’s value.

Inflation

Inflation, perhaps surprisingly, has a direct relationship with gold prices. When inflation rises, so does the value of gold. Inflation causes the value of that country’s currency to decrease, and so citizens tend to hold their money in the form of gold rather than a weakened currency. Therefore, when inflation remains high over a longer period of time, gold increases in demand and in price.

Commercial & Industrial Demand

Everyone knows the basic laws of supply and demand: when supply is low, demand will become higher and the value of that object goes up. When the demand for gold jewelry increases and the supply becomes more limited, the price of gold automatically rises in response. Once the demand for jewelry decreases, the price of gold will also decrease. Almost fifty percent of the world’s gold production is used in jewelry, so the values of these two items are very closely linked. If you have gold jewelry that you want to sell, wait for a time when gold prices are higher and the demand is increased in order to receive the best value for your items.

Watch & Wares has been buying and selling gold for more than twenty years, and we’ve established ourselves as the local experts. Orange residents know that when they visit Watch & Wares, they’re receiving a fair and competitive appraisal offer that directly reflects market prices. If you have gold jewelry that you would like to sell for quick cash, stop by Watch & Wares in Orange today or give us a call at (714) 633-2030 to schedule an appointment.

The Advantages of Buying a Pre-Owned Rolex

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If you invest in a pre-owned Rolex rather than a brand new one, you can save hundreds or thousands of dollars and secure a bigger return on investment while still proudly owning a piece of timeless luxury. Orange County residents trust Watch & Wares for authentic pre-owned Rolex watches that are in like-new condition. With significant discounts over current retail prices, the pre-loved route is one that an increasing number of shoppers are opting for as they realize that a big chunk of the retail price is just for the retail purchasing experience itself.

#1. Cost Savings

Although Rolex watches can increase in value over time, this is a gradual process that requires holding onto the piece for several years or decades. It also means that the value has increased to be greater than the original retail price at the time of purchase (whether that be last year or 30 years ago); it does not mean that the current value is greater than the current retail price. It takes an exceptionally rare Rolex to be able to sell it for above retail price while it’s still a current season item. Therefore, as a buyer, you are guaranteed to save money if you purchase your Rolex secondhand from a trustworthy luxury watch dealer such as Watch & Wares. If you want to splurge on a luxury item while still getting the best deal you can, choose a pre-owned Rolex in practically perfect condition from Watch & Wares.

#2. Timeless Style

Classic styles are classic for a reason. Unlike trendy, seasonal items, designer brands will continually make their classic models with little to no stylistic changes over time. Classic styles hold their value over time because they continue to look the same every season since their conception. Styles such as the Datejust or Submariner are examples of classic Rolex models that have stayed consistent in design since their introduction to the line. When you purchase a classic second hand Rolex, you can trust that it will continue to stay in style for years to come, making it a worthwhile purchase. No one will notice that you have “last year’s model” or an outdated version; they’ll just admire your beautiful, classic Rolex.

#3. Long-Lasting Quality

Rolex watches are built to last. Part of their luxury appeal is the incredible craftsmanship and high-quality parts that are used to create each timepiece. When you purchase a second-hand Rolex, you don’t have to worry about the wear and tear taking a toll on the device’s ability to function. With reasonable use, a Rolex should last for decades. Like any device, it will require a bit of servicing to keep it in top shape, but every pre-owned Rolex is repaired and restored to full working order before you purchase it, so you can enjoy the watch for years to come. 

#4. Return on Investment

We all know the danger of purchasing a new car: as soon as you drive it off the lot, the value depreciates greatly. The same rule applies to luxury accessories such as Rolex watches. The vast majority of the time, the value of a Rolex will decrease significantly as soon as it’s purchased from the store and becomes a “used” watch. Although some models can continue to depreciate slightly in value over the years, by far the biggest depreciation occurs immediately after purchase. When you purchase a second hand Rolex, therefore, you’re allowing the original owner of the item to take that financial hit for you. By avoiding this immediate depreciation, you’re guaranteeing yourself a better return on investment over time than if you purchase a Rolex brand new. If you invest in a classic model, its value will likely hold or increase over time and you can quite often sell it for even more than you purchased it for, especially if you purchased it at a discounted rate from a reputable dealer such as Watch & Wares.

If you’re looking to purchase a Rolex in the Orange County area, consider a pre-owned timepiece from Watch & Wares. All of our Rolexes are guaranteed authentic and are restored to like-new condition before resale. Be a smart consumer and maximize your return on investment by choosing a pre-owned Rolex today. To view our inventory or find out more about our pre-owned items, give us a call today at (714) 633-2030.

Which Stones and Precious Metals Are the Most Valuable

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Whether you’re buying jewelry or selling it secondhand, the value of your piece will largely be dictated by whether it includes precious metal or gemstones. Luxury accessories almost always include precious metals and stones because they elevate the price of the piece and add to its rarity. While many consider gold and diamonds to be the most desirable materials to own in a jewelry piece, they’re actually oftentimes not the most expensive. We’ve compiled a list of some of the most valuable stones and precious metals on the market, so when you stop by Watch & Wares Tustin, you’ll know exactly why your piece is valued at its listed price.

Platinum

There are four precious metals used in jewelry: platinum, gold, silver, and palladium. Of the four, platinum is often the most expensive and definitely the most exclusive. It’s 30 times rarer than gold and used in a purer form. It’s the densest, strongest, and most non-corrosive of the precious metals, which makes it an ideal choice for those who want a low-maintenance metal whose beauty will stand the test of time.

Gold 

Because of its desirability, durability, and malleability, gold is the most popular precious metal option. It’s a traditional precious metal choice that has been coveted for thousands of years as both a jewelry base and a currency. Its value fluctuates daily and is measured by the purity of the gold used, with 24 karat gold being the most valuable with 100% gold.

Silver

Silver is the most popular jewelry base option after gold. Sterling silver is often considered the standard for high-quality silver jewelry since it’s over 90% pure silver. Silver is more affordable than gold, making it a great options for those on a budget, but its price is also much more volatile than gold. If you’re selling silver jewelry, be sure to monitor the market price before you sell to ensure you’re getting the best value possible for your piece.

Palladium

The fourth and least common precious metal option is palladium. Palladium is used to create white gold alloys in jewelry. It is combined with one or more other white metals such as nickel, platinum, manganese, zinc, or silver in order to create a stronger material than silver that replicates the same desirable silver color.

When it comes to gemstones in jewelry, many consumers value colorless diamonds for their classic appearance and high desirability. However, they’re far from the most valuable gemstone available. From colored diamonds to rare gemstones, here are some of the most valuable stones on the market.

Blue Diamond

The most expensive gemstone in the world is a diamond, but it’s not just any diamond. The ultra-rare blue diamond is valued at $3.93 million per carat. Blue diamonds consistently sell for millions of dollars at auction to some of the world’s top collectors. The world’s biggest blue diamond, – a 14.62-carat emerald-cut – was sold at auction for $57.5 million in 2016. While it’s not the most expensive jewel ever sold, it does take home the prize for the most valuable price per carat.

Jadeite

Jadeite comes in at a close second for most valuable at $3 million per carat. Jadeite is the purest, rarest, and most vivid form of jade in the world. Despite being known for its vibrant green color, jadeite can actually come in a variety of colors such as red, yellow, and black. Jadeite plays a significant role in Chinese culture, symbolizing prestige and status. 

Ruby

Ruby is one of the most sought-after gemstones due to its range of stand-out fiery red hues. The ruby is often referred to as the “King of Gemstones” and it’s become a symbol of passion and life due to its blood-like color. The most expensive ruby ever sold, a 26-carat stone named the Sunrise Ruby, was sold for $30 million in 2015, making it worth $1.18 million per carat.

Emerald

Emeralds, known for their unique green tones, are some of the most popular gemstones in the world. Most emeralds are found with flaws, so those that are found to not have any often fetch enormous figures at auction. The most expensive emerald per carat ever sold was the Rockefeller Emerald, an 18-carat gemstone that was sold for $5.5 million, or $305,000 per carat.

If you’re looking to buy or sell jewelry with precious metals or stones, stop by Watch & Wares Tustin for a free appraisal. We buy gold jewelry and offer jewelry loans if you’re not ready to part with your piece permanently. Our expert appraisers have years, if not decades, in the fine jewelry industry, and we consistently offer the most competitive rates in the area. To find out what the value of your gold jewelry is, stop by Watch & Wares today.

The Jewelry Loan Process with Watch & Wares

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If you need cash quickly for unexpected expenses and you have valuable jewelry that you’re able to trade, collateral loans can be a great option. With a collateral loan, you don’t need a credit check to qualify, and failing to repay doesn’t hurt your credit score. You can capitalize on the value of your valuable jewelry pieces without permanently losing them when you choose jewelry loans through Watch & Wares in Tustin. 

The Appraisal Process

In order to determine the value of the loan, we appraise your jewelry and estimate its approximate value on the secondhand market. Our expert gemologists will assess your pieces based on the precious metals and stones they contain as well as brand and condition.

If your jewelry contains diamonds, our gemologists will value each diamond in order to calculate the item’s worth. They will evaluate the cut, clarity, color, weight, and condition. When assessing color, we’ll assign each diamond a letter on the GIA color scale, with D being the whitest in color and Z being the most color tinted. Clarity will also be assessed according to GIA standards. After we’ve determined its clarity grade, we’ll weigh the diamonds in carats. This is arguably one of the most important factors since diamond prices are largely based on the weight of the diamond in carats. Once we’ve determined the value of a diamond in your weight bracket, we’ll assess the condition of the diamond and calculate the exact market value of the diamonds in your jewelry piece. We can then use this to offer you a fair and honest loan value for your diamond jewelry.

If you have gold jewelry to pawn, we calculate the value of your gold based on the weight in troy ounces, the purity in carats, and the current gold spot price. Once we’ve determined the weight and purity of your gold, we can apply a formula that calculates the exact value of the gold present in your jewelry piece. This will help us more accurately determine the value of the piece overall. 

Our Collateral Loan Terms

Once we’ve appraised your piece and established its approximate resale value, we’ll offer you a collateral loan for that amount. Should you choose to accept the loan terms, you’ll be issued a loan ticket clearly stating all of the terms so that the process is completely transparent. All of our loans are four-month terms with a generous ten-day grace period. Our interest rates are state-regulated, and paying back the full interest rate enables you to renew your loan if needed. We’ll hold on to your jewelry until you repay the loan within the agreed-upon timeframe. If you fail to pay back or renew your loan in time, we’ll keep your jewelry as repayment. This makes collateral loans a great option for those with poor credit or those who fear damaging their credit score, as failure to repay collateral loans will never affect your credit in any way. If you do repay your loan on time, then you can come collection your jewelry from our Tustin location at your earliest convenience.

Collateral loans are a wonderful tool to have if you need cash to last you until the next pay period. They allow you to cash in on the remarkable value of your fine jewelry pieces without having to permanently part with them. If you have diamond or gold jewelry that you would like to have evaluated for a loan, stop by our Tustin location today. Our expert team members have decades of experience in the fine jewelry industry and can quickly and accurately appraise your items with no hassle. We have served the Tustin and surrounding Orange County area for more than 25 years, so you can trust us to consistently offer fair loan values in a comfortable setting with exceptional customer service.

Which Luxury Watch Brands Hold Their Value Best?

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Many Tustin residents believe that purchasing material items could never be an investment because they will immediately depreciate in value once they’re no longer new, much like purchasing a car. For the most part, this is true. However, when it comes to the luxury goods market, there are several brands and styles that will consistently hold their value, or even increase in value! There are several luxury watch brands that are considered wise purchases because they are virtually guaranteed to hold their value, or even increase in value over time. These are the luxury watch brands that are most likely to hold their retail value over time.

Rolex

Rolex is arguably the most famous watch brand in the world. It doesn’t take a watch connoisseur to know that Rolex watches are a premium product that boasts superior quality. Rolex has been around since 1905, and they create some of the best investment watches on the market. This history and premier reputation are what contribute to the fact that their watches can often be sold for a premium on the secondhand market. The key to purchasing any investment piece is to ensure that you’re not only buying the right brand, but also that you’re buying the right style. Each luxury brand, no matter how reputable, will only have a small selection of models that reliably hold their value. If you’re looking to purchase a Rolex that will maintain its retail value over time, the best choices are the Deepsea and the Submariner. Their resale value is often higher than their original purchase price, making them a wise luxury investment.

Patek Philippe

Founded in 1839, Patek Philippe is a Swiss luxury watch manufacturer that creates some of the most complicated and unique mechanical watches on the market. They are widely considered to be the most prestigious watch manufacturers in the world, with notable wearers including Queen Victoria, Queen Elizabeth II, Albert Einstein, John F. Kennedy, Nelson Mandela, Pablo Picasso, and more. Of the top ten most expensive watches ever sold at auctions, seven are Patek Philippe watches, proving that their resale value can be astronomical in extraordinary cases. They are brand that is entirely intertwined with luxury, history, and prestige, which is why many of their watch models hold their value extremely well. The most notable models in terms of reliable resale value are the Calatrava, Chronograph, and Nautilus.

TAG Heuer

TAG Heuer, although more closely associated with modern fashion than the other listed brands, is a Swiss luxury watchmaker whose founding dates back to 1860. They have the same history and prestige as other luxury watchmakers, but their modern marketing is what has set them apart. The keep a vintage appearance while upgrading the internal mechanics, associating their watches with heritage. They boast an impressive list of celebrity wearers, both historical and modern, such as Elvis Presley, Steve McQueen, Cristiano Ronaldo, Brad Pitt, and Chris Hemsworth. While they don’t have as many models that are likely to hold their value as Rolex or Patek Philippe, investing in flagship models such as the Carrera and Monaco will increase the likelihood of profit. 

If you have a luxury watch that you’d like to pawn in order to make money fast, Watch & Wares Tustin can coordinate a flexible loan program for you. You may even qualify for a loan of equal or greater value than you originally purchased the watch for! A Rolex loan is a great way to earn money fast without permanently losing your luxury watch, so you can hold onto it even longer and see it appreciate further in value. If you’d like to bring in your Rolex or other luxury watches for appraisal and get started with a Rolex loan today, stop by our Tustin location or give us a call at (714) 731-9600. Our expert team members would be happy to help you with no appointment necessary.

How to Ensure You’re Receiving a Fair Value for Your Diamond Jewelry

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When you’re selling something as valuable and sentimental as beautiful diamond jewelry, you want to make sure that you are receiving a fair offer for it. However, it can be difficult to approximate the value of your own diamond pieces, as it can be largely dependant on the setting, age, and condition as well as the quality of the diamond itself. Your knowledge of the value can often be reliant on the jewelry buyer you are trying to sell to; but how do you know if they’re offering you a fair amount? Here at Watch & Wares in Orange, we are always honest and transparent in our evaluations of diamond jewelry pieces. Next time you’re looking to sell diamond jewelry, consider these points to ensure that you’re receiving a fair value for your valuables.

Know what your diamond jewelry is worth

Before you speak to a diamond jewelry buyer about the piece you want to sell, you should have a clear idea of what your diamond jewelry is worth. Untrustworthy buyers may try to offer you far less than is fair in order to clear the largest profit margin possible. In order to ensure that you are receiving a fair value for your diamond jewelry, speak to a jewelry appraiser or gemologist who does not buy or sell diamond jewelry at all. Speaking to a third party with no financial interest will guarantee an objective and fair evaluation of your pieces. Knowing this value going in will help you ensure that you get the fairest value. Although all diamond jewelry buyers will offer slightly less than this value due to the costs and fees associated with re-selling your piece, you will be able to determine who is offering you the fairest and most competitive rate for your valuables.

Compare your jewelry buyer options

Don’t just speak to one seller and accept the first offer given. With any reputable diamond jewelry buyer, there is never pressure to sell and your offer will stand if you decide to leave the store and return. Make sure that you take the time to compare offers and investigate multiple options before committing to selling. Much like receiving estimates for construction work, you should collect offers and choose the fairest option. With something as important as selling diamond jewelry, you should take your time and choose an offer that you feel is fair from a company that is trustworthy. Here at Watch & Wares, we consistently offer the most competitive rates in the Orange County area. We believe in the value of your diamond jewelry; not just the stones and materials, but the value of the piece as a whole. Our expert appraisers will thoroughly assess your item and offer the best price possible based on the current market value.

Research your diamond buyer

When it comes to something as sentimental and valuable as diamond jewelry, you need to know that you’re working with someone who is trustworthy and reputable. Before selling to anyone, do your research on the diamond buyer and their reputation. Search for reviews on Yelp, check their rating with the Better Business Bureau, and ensure that they are licensed and insured. Another good way to gauge trustworthiness and expertise is to see how long the company has been in business and whether they have certified jewelers and gemologists on staff. Here at Watch & Wares, we have curated a team of expert jewelry appraisers and gemologists with decades of experience working with some of the biggest names in the diamond jewelry industry. With almost 30 years of business under our belts, Watch & Wares is a name you can trust.

Here at Watch & Wares, we treat all of our residents of Orange with respect and courtesy. We would never try to offer unfairly low prices or pressure you into selling before you’re ready. Customer satisfaction is our top priority, so we always strive to create an in-store experience that makes you comfortable and confident in your decision to sell diamond jewelry. We consistently offer the most competitive prices in the area, and our customer service speaks for itself. To schedule a diamond jewelry appraisal or for any inquiries regarding sales, give us a call at (714) 633-2030 or stop by our store in Orange.

How to Buy, Sell, and Loan Your Jewelry & Watches

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If you’re looking to sell or loan your valuable accessories for cash, or if you’d like to buy fine jewelry and watches for a reasonable price, stop by Watch & Wares Tustin. We’re Orange County’s premium destination for all things luxury, including diamond and gold jewelry and watches. Whether you want to buy a secondhand Rolex, sell your family’s estate jewelry, or arrange a collateral loan, we will assist you while making the experience as convenient and stress-free as possible. We strive to create a warm and welcoming environment that will make you comfortable and confident in your experience with us.

The Buying Process

Established in 1991, Watch & Wares Tustin is a full-service jewelry store. We boast an extensive and varied inventory of fine jewelry and designer watches for competitive prices. We specialize in jewelry from the Victoria, Edwardian, Art Nouveau, Art Deco, Mid-Century Modern, and Contemporary periods. No matter what time period or style you’re seeking, we can match you with a piece that you love. We also repair and restore all jewelry and watches before selling them, so you can rest assured that you are buying jewelry or any luxury piece in the best condition possible. 

The Selling Process

We have purchased jewelry and watches from Orange County residents for over 25 years, and all of our appraisers have decades of experience in fine jewelry sales and appraisal. We don’t just offer you the value of the gold or stones in your jewelry like many other buyers; we appreciate beautiful jewelry pieces and want to find them a new, loving home completely intact. We offer top dollar for your jewelry, gold, and watches and give you your money same-day in cash. When you bring in your piece, one of our expert team members will take time to evaluate it and determine its market value. For gold items, this includes determining the value of the gold based on weight and purity. All of our scales are certified by Orange County Field of Weight & Measure to ensure that all measurements are accurate to the industry standard and you are receiving the fairest offer possible. Once we’ve appraised the item, we’ll quote you the best possible price with no obligation to sell. If you do choose to sell the piece, we’ll give you your money right away. We are a fully licensed and certified buyer with extensive experience and the trust of Southern California.

The Loan Process

If you have valuable jewelry or watches that you don’t want to part with permanently, collateral loans are an excellent option for those who need quick cash. All of our collateral loans are four-month loans with a generous ten-day grace period. Our interest rates are all state regulated and based on the value of the loan. Once we’ve appraised your item, we’ll offer you a fair and non-negotiable value. If you choose to accept the loan terms, we’ll issue you a loan ticket with all of your loan term information so that the process is fully transparent. Once you’ve repaid the loan in full, we will return your items to you right away. If you fail to repay the loan within the four-month timeframe, we will keep your item as repayment for the loan. We also offer the option to renew your loan, which can be done by paying the interest owed on it. 

Watches & Wares Tustin is proud to offer a variety of services for those looking to buy, sell, or loan their valuable jewelry and watches. We are always honest and fully transparent, with unparalleled customer service standards. If you are looking to buy or sell one of your items, stop by our store to receive a free appraisal and browse our extensive selection of designer pieces. Our 25 years of success in Orange County is proof that you can trust us to provide you with a premium experience, no matter what you need.

Buy & Sell Luxury Handbags with Watch & Wares

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If you live in or near the city of Orange and you’re looking for a trustworthy place to buy or sell luxury handbags, look no further than Watch & Wares. We have been a reliable reseller of authentic designer handbags and other luxury goods since 1991. From Chanel classic flaps to Hermes Birkins, we boast an impressive collection of pre-loved designer handbags listed for sale at a reasonable price. We are always looking to buy your designer bags, and our thorough appraisal process results in some of the most competitive offer prices in the area. Here’s what to expect if you come into Watch & Wares for an appraisal on your luxury handbag.

Brand Value

The first thing we’ll consider is the designer brand name. Certain luxury brands are worth more than others, so bags by designers such as Chanel and Hermes are going to be worth more than those by brands such as Gucci and Louis Vuitton. Legacy, demand, and retail value are all considerations when assessing brand value and resale market price. Although we only purchase luxury brands, we’ll still consider the brand’s value within the luxury market hierarchy to gauge value.

Classic & Permanent Styles

Each designer brand has certain bags within its line that are considered classics and are part of their permanent collections. These classic styles never go on sale and, in fact, consistently increase in value over time. For example, the Chanel classic flap used to cost just $2,700 in 2009, and it now retails for more than $6,200 – that’s a 230% increase in value in the last ten years alone. Other classic styles include the Hermes Birkin, Hermes Kelly, and Louis Vuitton Speedy. Bags in classic styles can be resold for much more than trend pieces, and they are often even sold for more than their purchase price. If the luxury handbag you’d like to sell is a classic style, we will be able to offer you more for your item.

Color, Material, & Packaging

Details such as the color, material, and accompanying packaging are also factors in a bag’s resale value. Neutral colors such as black and nude tend to be worth more due to their wide appeal and versatility. Colored bags require a more specific customer and will have a lower demand; therefore they will be worth less on the resale market. The material is also a factor, with rare leathers such as alligator and ostrich skin being worth far more than lambskin or calfskin. Non-leather materials such as canvas and velvet are often worth the least and have the lowest resale value. The inclusion of original packaging and proof of authenticity can also increase the purchase value. If you have the accompanying box, dust bag, purchase receipt, and authenticity card, we can offer you more for your luxury bag than if you have the bag alone to provide.

Although many buyers know that a bag’s condition and level of wear & tear will be a factor in its secondhand value, many may not realize that several other factors must be taken into consideration. It all depends on a variety of factors that our expert appraisers will carefully assess. The combination of these will result in the offer price that we can provide following your appraisal. Bags can be worth virtually nothing, slightly less than their purchase price, or even double their purchase price. Our offers are always highly competitive and often unrivaled. We consistently offer more for your luxury items than other pawn shops and consignment stores in the city of Orange and the surrounding area. To schedule an appraisal or find out more about the inventory we have available, call Watch & Wares – Handbags & Couture at (714) 633-2030 today.

How is Gold Tested?

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Before approaching your local reseller or gold buyer with gold and jewelry wares, it’s important to know exactly how the value of your items will be calculated. Becoming a more informed buyer will prevent you from being ripped off by untrustworthy businesses and ensure that you get the best price for your items. While it’s hard to attain the same knowledge as an experienced gemologist or appraiser, this article will give you some insight into how gold is tested and valued on the resale market so that you can get the maximum cash for your gold.

Figures to Know

There are three figures you need to know in order to calculate the value of your gold accurately: the weight of the gold in troy ounces, the purity of the gold in karats, and the current gold spot price. The gold spot price is the price for one troy ounce of pure, 24-karat gold at that time. The spot price can vary day to day, and minute to minute.

Troy Ounces

Precious metals like gold are weighed in ounces. However, they are not weighed by the standard ounce (28.3 grams). Instead, they are weighed in a unit of mass used in the precious metals industry called the troy ounce. The troy ounce is equal to 31.1 grams, 9% more than a standard ounce. When weighing gold, it is essential that it is weighed as accurately as possible in order to get the best estimate of value. Our scales at Watch & Wares are certified by Orange County Field of Weight & Measure to ensure that all measurements are accurate to the industry standard.

Purity

Everyone’s heard the phrase 24-karat gold. But what exactly does that mean? 24-karat gold is the purest form of gold available on the market. Gold, especially in jewelry, is rarely 100% pure gold because it would be too soft to shape. Instead, it is often mixed with other metals such as zinc that result in a lower karat alloy more suitable for making jewelry. To calculate the purity of your gold for market value, first find out how many karats your piece is and divide that number by 24. If your item is 14-karat gold, for example, you would divide that number by 24 to get the figure 0.583. That means that your jewelry piece is 58.3% pure gold. The higher the percentage of gold in your item, the higher the value of your piece will be.

The Formula

Although gold jewelry and accessories will vary in price based on style, brand, condition, and a number of other factors, a formula can generally be used to calculate the price of the raw gold itself. This formula is (spot price / 31.1) x purity in decimals x weight of the item in grams. So, for example, if you had 1 gram of 14-karat gold, and the current spot price was $1300, you could calculate the value of that gold by doing the following calculation: (1300 / 31.1) x 0.583 x 1 = $24.37.

However, as stated, this value only applies to the gold itself, not the overall item or piece of jewelry. For full appraisals, visit a reputable jeweler or pawnbroker and have your item evaluated. Here at Watch & Wares, we always offer a fair and honest price to customers. Call us at (714) 633-2030 or come into one of our stores to get cash for your gold today!

 

The Process of Selling Gold and Jewelry

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For anyone who is thinking about selling their gold or jewelry, it’s important to find a pawnbroker who will give you a quote equal to what your item is worth. Here at Watch & Wares, we ensure our customers feel valued and are happy with their selling experience. Established in 1991, we are a full-service jewelry store, and if you’re looking for the best place to sell your jewelry or gold near Irvine, look no further!

SELLING YOUR GOLD OR JEWELRY

When you walk into Watch & Wares, you will meet with one of our highly trained evaluators, and we’ll take about 5-10 minutes to asses the jewelry piece or gold. The appraisal will be based on karat, weight, and the inclusion of precious stones. If you have a certificate to prove the stones’ authenticity, bring it as well, as it will help increase the value of our offer. If there is no certificate available, our gemologist will assess its value. Once we’ve completed the evaluation, we will give you the best offer possible. Although our estimates require no obligation to sell, we do offer the best and most competitive rates in Irvine. If you like our offer, you can walk out the door with your money the same day, as we buy gold and jewelry for cash!

THINGS TO LOOK OUT FOR WITH PAWN SHOPS

We, like all other legitimate pawn shops, will ask for your ID when you pawn your items, as required by law. Any government-issued form of photo ID will work to confirm your identity. If a pawn shop does not ask for your ID, be wary of their legitimacy because they may not be licensed. Watch & Wares is a certified cash buyer and licensed pawnbroker, so you can feel secure selling your items to us.

Additionally, our scales here at Watch & Wares are certified by the Orange County Field of Weight and Measure to ensure the most accurate measurements. The more precise the weight measurements are, the better price you will get for your item! A scale that is certified by the Orange County field of Weight and Measure is crucial in selling your gold or jewelry, as an uncertified scale allows pawnbrokers to falsify the actual weight of your items.

Watch & Wares is proud to offer accurate and no obligation estimates, top-tier customer service, and a sense of security and comfortability that other pawn shops lack. With over 25 years of service and a 5-star Yelp rating, our reputation speaks for itself! Watch & Wares is here to provide you the best experience possible. For questions about pawning jewelry near Irvine, call us at (714) 731-9600.