Guide to Understanding Gold Prices: Cuban Links, Calculating 10k & 14k, and Market Price Breakdown
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- Опубліковано 20 жов 2024
- In this comprehensive guide, we break down the current gold market prices, how they work, and how to calculate the value of 10k and 14k gold. Learn how to determine the price per ounce, calculate scrap gold value, and understand how much pawn shops and jewelry stores should be offering for your pieces. We also dive into the manufacturing costs, labor, and profit margins for different types of gold chains, including Miami Cuban Links, machine-made Cuban links, and hollow ropes.
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Thanks for sharing this information!
That costume bracelet looked pretty cool, would love you if you featured more pieces on the channel in the future.
Informative video, appreciate it 🔥 Transparency keeps everyone happy.
Thank you!
Do you think the price of gold will go down after the elections?
C’mon bro. You were doing good until you started to talk about profit margin being thin. There’s no other business like the jewelry business where profits are at least fifty percent.
Good job regarding explaining the cost of gold versus politics/economics and supply/demand.
Hey there!
I absolutely love the depth and detail in your video on breaking down current gold market prices and calculating the value of 10k and 14k gold. Your insights into determining the price per ounce, scrap gold value, and what pawn shops and jewelry stores should offer are incredibly informative. The way you dive into manufacturing costs, labor, and profit margins for different types of gold chains like Miami Cuban Links, machine-made Cuban links, and hollow ropes is truly impressive.
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C’mon bro. You were doing good until you started to talk about profit margin being thin. There’s no other business like the jewelry business where profits are at least fifty percent.
Good job regarding explaining the cost of gold versus politics/economics and supply/demand.
Hey there, tbh it all really depends on the item. and this translate to a lot of the other industries as well, usually the lower the value of the item the bigger the margin is since the profit is overall small in $. But for bigger items the profit margins will change in general. Take a look at the price of gold and add a few dollars for labor and import charges you'll notice profit is not that much and also take out credit card and finance charges if the customer decides to finance. Is not as great as we would like it to be. Is hard now days for anyone to be overcharged, unless you've been living under a rock and have no clue whats going on.
Hope this helps. thanks for your comment
@@GOLDZENNJWL I have been in the tobacco business almost as long as your age. Big ticket items have the largest profits for us and we import from DR, Nicaragua, and Mexico. We are afflicted with customs duties because we have a product called, Grabba which has a barcode and subjected to additional taxes. We still eek out a good living because I am a wholesaler and sell by the containers (20/40 foot). Tobacco is the most expensive agricultural product.
I have friends in the jewelry business and they are all doing well, especially on these high ticketed items like Miami Cuban links that are busted down. Jewelry is different than my tobacco company where one can actually escape with adding up to double the C-line and the customer would still pay.
I purchase from farmers where labor increases every year. You purchase from wholesalers and receive your gold and diamonds at a discount and you mark up according to your operation. That is the capitalist system at play. No harm there!
If for example, gold prices go up to say,$2,900.00 USD next month, October. You’re already locked into a lower price per kilo from your suppliers and that additional increase of about $400 dollars is just additional profit you pass on because your labor cost didn’t increase.
I see you got a tad personal with your reference regarding being under a rock. I take that as youthful exuberance and forgave you. To the untrained person, you can be convincing. To the trained ear, it’s subject to scrutiny.
The average person might be au fait of gold prices, however, diamond pricing is trickier and that’s where the bulk of the mark up lies. Do we consumers really know the difference between VS2 E and SI2 H? C’mon bro…