Platinum appraisals can be a difficult thing to get a read on because like most other types of jewelry, these items are worth more to the seller than to the buyer. Therefore, you might have trouble getting an appraisal that you agree with, as the platinum appraiser will have his or her own ideas on what the item is worth. In addition, this appraisal will be the retail value of the item, rather than the actual value of the material that was used to make the item, which is why a great deal of confusion arises.
If you are attempting to sell platinum to a place like Cash4Gold, you will have to be aware of the difference between the retail value of the platinum and the melt value. Basically, platinum appraisers will give you a rather high estimate for your platinum if they believe that you will turn around and spend it at their store or use it as a trade-in. That way, they are still coming out ahead in the deal because their goal is to make money. What people do not realize is that platinum that is purchased from a jeweler has been marked up considerably and that the actual material that is being used is only worth a fraction of what you are paying. Therefore, there will always be a major difference between what your platinum is appraised at and what its actual value is.
Many people will get a platinum appraisal done for insurance purposes, but that amount is roughly equal to the retail replacement amount. This means that is it not the actual amount that the item is worth, but rather what it would cost you to replace it at jewelry store. Therefore, you should not expect to get that amount for your platinum jewelry because no one will give you the full amount you paid for it, unless of course it has risen in value significantly.
This retail value, obviously, differs considerably from the melt value that you can expect to get from a place like Cash4Gold. Basically, Cash4Gold will give you fair value for the actual platinum that is found in your jewelry because that is all they are using. They are not going to resell your actual ring or necklace to a jewelry store, but will melt the actual material down to make something new. Unfortunately, this is something that some customers fail to realize, as they believe that they should get the advertised value of the platinum that they have purchased.
These high prices that jewelry stores charge is based on much more than the actual material that is being used. First of all, the material must be crafted into its current form, which costs money to do. Also, the jewelry store must make money to pay its employees and cover overhead charges. The end result is that you are paying up to 20 times what the platinum is actually worth. Platinum jewelry appraisals will not show you this because they are based on the retail value.
Another thing that you will not to be aware of is the resale value of your jewelry. You must know what type of platinum jewelry appraisal you are receiving because it will alter the end result for you. Cash4Gold will give you an accurate melt value when you get a platinum appraisal through the company, which will ensure that you get the right amount for your jewelry. Make sure that you are not fooled by pawn shops and jewelers who are giving you a high appraisal rate, while making you agree to a trade-in because you will end up losing money on this type of a deal. What they will do is simply sell your jewelry for more than what they bought it from you, which means that the resale value was more than what the jewelry was appraised at.
Platinum appraisals are a tricky business, so you must know exactly what you are getting yourself into. If you can get a great deal from a jeweler or pawnshop, then, by all means, take it. Just make sure that you are aware of what these businesses are doing to you and how they plan on making money from this transaction. If your platinum item is broken, it will have almost no resale value, which is one of the reasons why people visit companies like Cash4Gold.
When Selling Platinum
When you go through Cash4Gold, the platinum appraiser will give you a legitimate melt value, which is what the material is actually worth. You will not have to deal with the inflated numbers that other platinum appraisers will give you because Cash4Gold will simply tell it to you straight. Once you have received confirmation of the platinum jewelry appraisal, it will be up to you whether or not you wish to accept the offer.
Even if you do not take the final offer from Cash4Gold, it is always good to know exactly what the material in your ring, bracelet, or earrings is worth. With no fake and inflated numbers, you will have a clear idea of exactly how much you should get for your item. In addition, Cash4Gold is committed to educating our customers on the hidden problems that arise with platinum jewelry appraisals, so that each customer is aware of what is happening and how these numbers are decided. Make sure that you know what each appraisal that you get entails and make sure that you are aware of what your potential buyer plans on doing with your platinum in order to get the full value when you decide to sell.