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Now I'm wondering what the markup is on a plain gold band compared to the spot price of gold. There's a business idea, figure out how to sell jewelry at a mark
by colechristensen 3y ago
Now I'm wondering what the markup is on a plain gold band compared to the spot price of gold.
There's a business idea, figure out how to sell jewelry at a markup low enough that it makes sense as a store of value and then actually participate in both buying and selling.
- dylan604 3y agojewelry is rarely pure gold. so you'd have to take that into consideration of your spot price. the person you sell that jewelry to later will also incur an expense at melting and separating the gold of the lesser metals. so not really sure how jewelry is a good way to store gold value
- jerf 3y agoIf you just stroll into a standard jewelry store looking for gold, markup over spot is disastrous. I've heard of people making that sort of thing on a limited basis, but the market isn't there. There aren't enough people aware enough of the issue, and the temptation to just go ahead and charge the jewelry premium as a result is pretty overwhelming.