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About the price of gold/jewellery?

(27 Posts)
Gossipmonster Thu 02-May-13 21:14:23

Has the price if gold gone down?

We got engaged 1 year ago and we bought my ring from a reputable website.

Today I notice the same ring is now nearly 1/2 the price OH paid for it.

AIBU to feel a bit pissed off about this?

I thought these things were supposed to hold their value? (obvs not the reason we bought the ring) but if for instance you spend £3000 on a ring (that isn't what we spent) to not expect it see it being sold for £1500 a year later?

I love my ring and I know it's about sentimental value etc but I want to know if this is normal?

TIA.

HollyBerryBush Thu 02-May-13 21:16:32

Its down 15% on 6 months ago but up 64% on 5 years ago, but yes the price is falling at the moment.

DrHolmes Thu 02-May-13 21:17:01

I don't know much about it but I do know gold has gone down in value recently.

Gossipmonster Thu 02-May-13 21:17:28

So it this ok then? confused

DrHolmes Thu 02-May-13 21:17:38

Holly ... are you Google?!

HollyBerryBush Thu 02-May-13 21:18:59

I knew it was falling, I googled how much, thingy on the radio this morning about gold reserves.

Gossipmonster Thu 02-May-13 21:19:50

What about stones confused

DrHolmes Thu 02-May-13 21:21:00

It's ok for shops to mark down their stock.

Holly - I meant are you actually just Google itself. You know everything!

HollyBerryBush Thu 02-May-13 21:22:39

Dunno, no interest in diamond prices, anything you buy on the high street isn't really worth that much in real terms.

But if you ever come to sell jewelry, through a pawn broker etc, they only pay you roughly 10% of the gold weight. I had a load valued for insurance, and was absolutely shocked at the margin they would take.

Gossipmonster Thu 02-May-13 21:22:39

Yes - I guess - Its just if you buy an expensive piece of jewellery you would kind of like it to hold its value. Makes me worry we paid over the odds now sad

LaGuardia Thu 02-May-13 21:22:52

Stones set in gold aren't even worth scrap value. Just enjoy your ring and stop worrying about the value.

Gossipmonster Thu 02-May-13 21:23:14

Really?!

DrHolmes Thu 02-May-13 21:23:16

Could it be that it's not so popular now? Maybe not to everyone's taste?
I would say your ring is worth what you paid for it. If someone went into the shop and paid half price for it then it is only worth half of your ring.

Gossipmonster Thu 02-May-13 21:23:35

That's ok then smile

Gossipmonster Thu 02-May-13 21:24:09

It's quite unusual so yes maybe not very popular.

StrangeGlue Thu 02-May-13 21:24:58

Isn't the mark down a reflection of it being a previous season's design/ discontinuing the line rather than directly related to the gold price (which is down but not 50%). The price you pay for rings and what they're worth in terms of the materials will be different due to the cost of the craftsman, their overheads and large profit margin.

You wouldn't be surprised to see a dress marked down three years later. This is the sane thing.

HollyBerryBush Thu 02-May-13 21:25:44

I do read every paper going >shhhh< and all the news sites and I only listen to 5live or talksport! All of which are quite political and no bloody music to annoy me grin

Gossipmonster Thu 02-May-13 21:26:58

I guess I saw jewellery a bit differently to clothes.

I don't mean to sound grabby btw.

StrangeGlue Thu 02-May-13 21:30:11

You don't sound grabby it is disappointing but I think it's something to put out of your mind.

Maybe it's the recession... It is worth what you paid but they've been forced to sell for less smile

Gossipmonster Thu 02-May-13 21:31:29

Hopefully I will never be in the position to need/want to sell it anyway grin.

minibmw2010 Thu 02-May-13 21:35:40

The price o gold has gone down drastically over the last few months. I watched a news programme that said lots of countries have huge gold stores and because countries like Cyprus and Spain who are struggling and so have been selling lots of gold it's brought the price down.

Either way, your jewellery was probably worth it at the time, it's unlikely you want to sell it surely?

HollyBerryBush Thu 02-May-13 21:38:02

Put it like this, I had some jewelry stolen, I claimed on the insurance. they gave me 3 grand to spend in a high street jeweller - I didn't want it replaced, it was sentimental and irreplaceable, however them's the rules! So I bought it and immediately tried to sell it to get the money at the next jewellers - clearly mine, had receipts etc - they offered me £140 for 3 grands worth. I declined.

I now have a pile of stuff I'll never wear

Gossipmonster Thu 02-May-13 21:39:12

Wow!! Can you not eBay it?

MVRC Thu 02-May-13 21:42:01

If its a plain gold band then I would say the ring in the window weighs a hell of a lot less than your one. Although they look the same, it would be considerably thinner. If it is stone set then I would say that, again, the weight of the gold would be different but the quality of the stones would probably be less too.

Gossipmonster Thu 02-May-13 21:46:32

Thank you all thanks

I am silly grin

And it is irreplaceable anyway isn't it smile

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