[Jewelry making - Article 00169] - Re: [Orchid] Sharing scrap gold buying prices

[Neilthejeweler]

========[ Invite a Friend - http://www.ganoksin.com/invite.htm  ]========

    Take the current market price, divide by 20 (in the case of troy),
    multiply by fineness, multiply by 90-95%. This gives you an
    approximation of what a reputable refiner will pay you per dwt. Then
    factor in your profit(which is up to you) 

    Example.. 

    Bullion is $904 and your using dwts instead of grams, the article in
    question is 18K 

    $904 X.05 X.750 X.95 = $32.20 Then factor in your profit. if you pay
    2/3 of what you sell it for then multiply by.666 and you pay $21.45
    over the counter for 18K scrap. Paying 2/3 is basically making 50% on
    your money, not bad for a quick turn around. But the rate is up to
    you. You might feel making 10% is good enough. 

    A good refiner will pay out about 90-95% of market then deduct
    refining charges, so if your lots are too small and frequent it will
    cut into your margin. Wait longer to build up the lot and market may
    go up or down in the meantime.
____________________________________________________________________
T h e   O r c h i d   L i s t
Open Electronic Forum for Jewelry Manufacturing Methods and Procedures
____________________________________________________________________
Orchid FAQ:
~ http://www.ganoksin.com/orchid/faq.htm
Orchid Archives:
~ http://www.ganoksin.com/orchid/archive
Orchid Galleries:
~ http://www.ganoksin.com/orchid/gallery.htm
Invite a Friend:
~ http://www.ganoksin.com/invite.htm
____________________________________________________________________
Tips From The Jeweler's Bench - Article Archive
~ http://www.ganoksin.com/borisat/tip_sear.htm
The Jeweler's Selected Bibliography List
~ http://www.ganoksin.com/jewelry-books
Buy Orchid Jewelry:
~ http://www.ganoksin.com/shop
____________________________________________________________________
-Unsubscribe:
-Email: orchid-request AT ganoksin.com Body=unsubscribe subject=blank
____________________________________________________________________