[Jewelry making - Article 00229] - Re: [Orchid] How to value customer's scrap on trade

[diamondeddy2]

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    First, make sure you know how much you can sell the scrap for. Then
    always, always, always pay less than what you can get out of it. The
    amount you pay for scrap has nothing to do whatsoever with the price
    of the item you are selling/trading. Or with the price that you would
    pay for new material. Currently, I am paying/trading, over the retail
    counter, at about $8/dwt for 14k, and $7/dwt for 10k. But I can sell
    currently to a major refinery, for a price in the neighborhood of
    $13/dwt. Also, the larger the lot of scrap that you sell to a
    refinery, the higher the $/dwt you will receive.Most major refineries
    pay maximum $/dwt for 1000 dwt or more batches. If the scrap has low
    end diamond melee, don't pay much for the diamonds because it takes a
    fair amount of time to remove it, and since time is money, the melee
    is worth less to you. I usually pay 1/2 or less than the wholesale
    price of equivelant melee, when I need to spend the time to remove it
    from the old mountings. Diamond melee that I might normally buy new
    for $15 each, I will pay $5 each in scrap purchases. Always remember
    that most people who inquire about selling their old scrap jewelry,
    have no idea what they should receive for it, and since we are
    supposed to be the pros, make sure you know what is profitable for
    YOU. If they refuse your offer, that's alright, because if you cant
    make a profit, you wont be in this business much longer. Run your
    business like a business, and you will still be in business next
    year. 

Ed in Kokomo

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