Flynrider
Phoenix,#2Consumer Comment
Sat, December 10, 2011
Are you seriously trying to compare the retail value of jewelry to the spot price of gold bullion? Even more absurd is then comparing it to the melt value you'll get from a gold scrapper (which is about 10% of spot price). I've seen some ridiculous complaints on this site before, but this one is right up near the top.
Let me give you a quick example. I bought a $40,000 Mercedes. I immediately took it to the auto scrap yard to have it recycled and the most they would give me was $800. The Mercedes dealer obviously ripped me off because the steel in my car wasn't worth anywhere near the $40K I paid for it.
patti
United States of America#3Consumer Comment
Fri, December 09, 2011
No retailer is going to sell gold jewelry for spot prices. The average markup on any jewelry is 300%.