Is it worth investing in gold, silver jewellery?
http://www.commodityonline.com/news/Is-it-worth-investing-in-gold-silver-jewellery-14836-3-1.html
Jewellery and diamonds attract VAT at very high levels. Before being fashioned into bracelets and necklaces, investment grade gold bullion (0.9999 or 24 carat) coins, bars and government gold certificates are stamp duty and VAT free. Jewellery is not. This is an added cost on top of an already large mark-up. Typically, 9 carat, 14 carat and 22 carat rings, bracelets and necklaces have mark ups of hundreds of percent over the real value of its component precious metals.
- Mark O’Byrne
Diamonds tend to go up and down with the value of the stock market.
- Lisa Hubbard
Useful links:
www.gold.ie
www.bundesbank.de
www.federalreserve.gov
www.sothebys.com
Mark, I completely agree with you. When it comes to selling the jewelry bought as an investment, the re-sale jewelry would not normally realise more than 30% of its original cost price. Most jewelers do not consider buying back items they have sold, forcing the owner to seek a new buyer in pawnshops.
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