Generating a profit from wholesale gold chains is very similar to traditional investing in gold bullion. Gold has been the primary measure of wealth for virtually every society on earth since currency, trade, and commodities valuation has been in existence. The most outstanding quality of gold in the financial realm is that it has never experienced a period where it has been worthless.
This intrinsic quality is what gives gold its allure, and makes trade items based on its attraction so valuable. Trading in gold bullion is a long-term investment that has a high degree of security. Like bullion, gold jewelry possesses the same potential for profit. The difference between pure gold trading and making a profit from gold jewelry is the consideration of numismatic and artist valuation.
Determining Gold Chain Values
So, how much does gold sell for? What is the price of gold jewelry per ounce? Near pure gold is presently selling for around $1,400 per troy ounce (based on market values as of August, 2016). When a person buys an ounce of pure gold they pay the market price, plus a spot commission afforded to the seller.
As bid market prices for gold fluctuates, each ounce rises in value according to daily trade values. The same is true for gold chain value, but other considerations are calculated. Gold chain is considered to be a craft item. Differing purity and types of gold are used to make gold chain, so market values only reflect general gold prices.
Just as bullion investors buy gold ounces at low prices, and sell when the values rise, gold chain sellers can make a profit by stocking chains and selling them during a period of higher valuation.Gold chains are made from 12 karat, 24 karat, and other purity weights of gold. 12 karat chains are roughly 58 percent pure, while 24 karat chains are nearly 100 percent pure. Combined with artistic value and certified appraisals, both types of gold chain can produce profits for sellers.
The key is to buy gold chains at a period when gold valuation is at a low point, or poised to increase significantly. Buying wholesale gold chains at a cyclical low point in overall gold valuation allows sellers to bolster their stock of salable items. When overall gold prices increase, the selling prices of these gold chains also increase. The difference between pure gold bullion sales and gold chain sales is appraised valuation.
Here at Personal Income, we recommend trading in gold that comes in standardized forms, and only from reputable sellers. But ultimately, regardless of what form of gold you trade in, it helps to be aware of the current spot price, as this would help you settle on a baseline rate for any transaction you may enter in.
The Value Of Gold Chain Appraisal
How much does a gold necklace worth? Well the value of the gold itself may be a tad lower than the price of a gold necklace. The first job of an appraiser in setting gold chain value is determining the purity of gold used in each chain. High-quality gold chains will be stamped with a number that describes the type of gold used in its construction. A “750” stamp indicates 75 percent purity. A “999” stamp indicates pure gold etc.The next step of appraisal is setting an auxiliary artistic value to the gold chain. Chains designed by exclusive and well-known metal artists carry far higher values than items generically produced. Beauty and rarity also play a role in determining the true value of a chain.
Making A Profit From Wholesale Gold Chains
Many buyers of gold chain are aware of how the market for gold works. This is why it is best to plan profits from gold chains using the same system that bullion buyers use. The steps are simple, but can require patience. As the price of gold bullion increases, so does the value of items made from gold.
6 Steps to Profit from Buying and Selling Gold Chains
1. Always be curious about how much gold is selling for.
2. Using daily trackers of gold prices, buy wholesale gold chains at low troughs in the market.
3. Have each gold chain appraised for both precious metal weight and artistic value.
4. Use daily gold market increases and appraisal details to determine a selling price.
5. Sell gold chains when the gold market indicates a modest-to-high increase over purchase price.
6. Use the profit from a high sale to purchase more gold chain when the market dips again.
Making money from the purchase and sale of wholesale gold chain is a worthwhile venture if a person is willing to diligently monitor the influence of gold on the world market. Gold chain is attractive to buyers who use it for everything from esoteric forms of currency to personal showpieces and gifts.
Stock up on wholesale gold chains when market values are low according to recent market activity on how much does gold sell for, and sell them when gold values begin to trend upward. As long as the chains sold have quality vetting from an accredited appraiser, gold chains can produce as much relative profit as gold bullion.
Learn from Minesh Bhindi's decades-long experience as a gold investor and wealth planner. He offers this free webinar that teaches you techniques on how to maximize the returns on your gold investment. His methods have been proven to yield 12 to 26.4 percent annually. This is such a great learning opportunity for anyone who invests in precious metals.