**..:The Official Jewelry Thread Vol. 11: You get a Jesus piece! You get a Jesus piece! Everybody gets a Jesus piece:..**

[ninjahood]

*shrugs* ya can act like dorks and be skeptical but i've done similar transaction in da past,

ya need to understand a couple of key points:

-fungible

-intrinsic value

intrinsic value is subjective

The subjective theory of value is a theory of value which advances the idea that the value of a good is not determined by any inherent property of the good, nor by the amount of labor required to produce the good, but instead value is determined by the importance an acting individual places on a good for the achievement of their desired ends.[sup][1][/sup]

a "jacob mold" jesus piece is subject to intrinsic value, once you buy it, not everyone is going to crown it as something they value

universally...da true value of that jacob piece is da gold content, even da diamonds on it is subject to WILD ambiguity.

jacob may look at you and deny you, but thats because he's operating on a platform that his "name" welds significant premium instrinic

value OVER material cost and labor of da product I.E. buying a jacob jesus piece because its from jacob and paying more then

going to a no name jeweler and paying way less for exactly da same piece with da same specs.

this is why that loon piece was SO much cheaper when i saw it in da corner back then, cuz once its out of that artifically controlled

environment its subjected to reasonable MARKET value, and not da intrinsic value jacob originally placed on it.

 

[eazye 804]

Come on brehs, yall been back & forth for hours now. This worst than the moissanite debate....

 

[bd0000]

best way to buy a heavy cuban = buy a gold bullion bar & barter it for da chain + money back

you'll basically be paying for da "transformation" of da gold from a bar to a chain and they'll take some percentage of da gold as payment.

This would only make sense if you were able to get gold more cheaply than the jeweler gets it. Unless the jeweler was able to avoid paying sales taxes by using gold that you pawned, I don't see how YOUR gold would be more desirable to the jeweler than the equivalent in cash. He can take your cash and go buy that same amount of gold with it.

If anything you'd end up spending more, because the transaction cost of you paying in gold (you say they would pay 83%-98%) would diminish the value. Say you have a brick of gold worth $10,000 spot price. So your $10,000 spot price brick of gold is only worth $9,000 off your jewelry bill if they give you 90% of spot price. And your jewelry bill  consists of prices that have labor factored into them. So your $10,000 jewelry bill might be for $7,500 (at spot price) worth of gold. 

So unless jewelers avoid sales taxes by buying gold off of pawners, I don't see why they would give better deals for gold than for cash.

 

[greatestgoliath]

Come on brehs, yall been back & forth for hours now. This worst than the moissanite debate....

Nothing will ever be Worse then the Mossianite Debate.

 

[freakydestroyer]

Come on brehs, yall been back & forth for hours now. This worst than the moissanite debate....

Nothing will ever be Worse then the Mossianite Debate.

The who popularized jesus piece debate was even worse IMO.

 

[ninjahood]

best way to buy a heavy cuban = buy a gold bullion bar & barter it for da chain + money back

you'll basically be paying for da "transformation" of da gold from a bar to a chain and they'll take some percentage of da gold as payment.

This would only make sense if you were able to get gold more cheaply than the jeweler gets it. Unless the jeweler was able to avoid paying sales taxes by using gold that you pawned, I don't see how YOUR gold would be more desirable to the jeweler than the equivalent in cash. He can take your cash and go buy that same amount of gold with it.

If anything you'd end up spending more, because the transaction cost of you paying in gold (you say they would pay 83%-98%) would diminish the value. Say you have a brick of gold worth $10,000 spot price. So your $10,000 spot price brick of gold is only worth $9,000 off your jewelry bill if they give you 90% of spot price. And your jewelry bill  consists of prices that have labor factored into them. So your $10,000 jewelry bill might be for $7,500 (at spot price) worth of gold. 

So unless jewelers avoid sales taxes by buying gold off of pawners, I don't see why they would give better deals for gold than for cash.

da value you gain by buying it wholesale is your taking da saving from da gold and transfering it to your jewelry.

NO jeweler is turning away buying gold at 98% of its spot price, some might even pay 97% or even if they try to jerk you for 96%

spot, you're STILL winning because you got da gold chain by bartering equal value exchange for gold in return, da jeweler doesn't

lose money in this exchange because gold is fungible.

 

[ohmygosher]

I hate when Ninja and JC start pyramid quoting.

 

[jchambers]

I hate when Ninja and JC start pyramid quoting.

We aren't really even arguing or talking about jewelry, it is all secret code.

 

[ninjahood]

i checked where those good prices of gold bars is coming from...get this

Precious Minerals Marketing Company

The company was established in 1963 as Ghana Diamond Marketing Board charged with the responsibility for the purchase and marketing of the country's diamonds. In 1965, by Legislative Instrument (LI) 401, the company was incorporated as a State Owned Enterprise (SOE). With the promulgation of the diamonds decree (NRCD 32) in 1972, LI 916 was enacted to change the company's name to Diamond Marketing Corporation. In 1989, PNDC Law 219 was enacted to yet again change the company's name to the Precious Minerals Marketing Corporation. Finally in year 2000, It was converted by Act 461 (statutory corporations conversion to companies Act) to a limited liability company to operate under the Ghana's companies code (Act 179 of 1963) as Precious Minerals Marketing Company Limited. The company's head office is located in its Diamond House building in Accra situated on the Kinbu Road opposite the Registrar-General's Department and adjacent to the Ministry of Foreign Affairs. The company operates in all the small-scale Gold and Diamond centres of the country namely: Accra, Kumasi, Tarkwa , Bolgatanga and Wa through its own offices and local Agencies. For its jewellery operations the company operates its own shops in Accra at Diamond House and on the Osu Oxford Street. In Kumasi its shop is in the Prime Plaza Building at Ahodwo.

they are basically a government backed agency in Ghana that deals with wholesale and smelting DIRECT from da mines.

this is literally da drug version of copping bricks straight from pablo from Bogota Columbia..

 

[cronicmolemolereturns]

i wish Ben Baller or if&co would end this debate

 

[Betonblck]

Wait so you mean to tell me if I cop a 500 gram gold bar and take it to jacob to get an 160 gram jesus done he'd basically trade it for the bar, make the jesus, give me cash back on top of that and I'd leave out making money off him then having to pay him?!?! and I thought jewelers were sharks...


I did not read the past 95 post...

Yep, that's exactly how it works. Jewelers don't actually make any money. They just like having a lot of gold around. They will actually lose money, if it means that they can obtain a tiny bit of gold. It isn't like they deal with gold every day or have access to a lot of gold bullion, so when someone like Ninjahood comes in there with a rare gold bar, it is like a deadstock pair of OG Jordans to them. They can't resist and will do anything to obtain it, because of its rarity.

This post really made me laugh out loud.

I just want a video of ninjahood telling the jeweler that the jeweler should give him a chain + cash back because of da fungibility of gold.

 

[ninjahood]

Wait so you mean to tell me if I cop a 500 gram gold bar and take it to jacob to get an 160 gram jesus done he'd basically trade it for the bar, make the jesus, give me cash back on top of that and I'd leave out making money off him then having to pay him?!?! and I thought jewelers were sharks...


I did not read the past 95 post...

Yep, that's exactly how it works. Jewelers don't actually make any money. They just like having a lot of gold around. They will actually lose money, if it means that they can obtain a tiny bit of gold.

It isn't like they deal with gold every day or have access to a lot of gold bullion, so when someone like Ninjahood comes in there with a rare gold bar, it is like a deadstock pair of OG Jordans to them. They can't resist and will do anything to obtain it, because of its rarity.

This post really made me laugh out loud.

I just want a video of ninjahood telling the jeweler that the jeweler should give him a chain + cash back because of da fungibility of gold.

im right though....

cam traded his older jewels for equal replacement value..watch him explain it, and this is FINISHED jewels, a solid bar of PURE gold

would even be easier. peep da 2:40 mark

 

[Belgium]

Ninja is it really that hard to write THE?

Just once

 

[antidope]

When Ninjahood posts articles, he replaces all the THEs with DAs

 

[ninjahood]

Ninja is it really that hard to write THE?

Just once

who gives a **** bout that, read da facts.

 

[ninjahood]

i got it.

 

[ninjahood]

 

[thecoldest343]

If it was just that simple,he could do just that right now and be looking like slick rick or making money.But it isn't soooo

 

[harmito]

I don't got him "working it out" for a regular Joe off the street  with a brick of gold...

He gave no details eithers ..

so yea ..

 

[harmito]

1st close up I ever seen of this piece from Big Boi 

 

[dwalk31]

lol norm I dont flat out agree with ninja, but honestly if you've ever bought or sold gold, it's pretty much like straight cash in a jewelry store. Especially a gold bar or coin or some other form of bullion. Of course the difficulty is obtaining a gold bar at fair market value, typically there is such an upcharge when purchasing bullion that you may lose that potential margin when going to a jewelry store to make a purchase. But yea you bring a bar, with a significant amount of gold left over to pay for the labor, you'll be good on a trade. Any day of the week

 

[ninjahood]

lol norm I dont flat out agree with ninja, but honestly if you've ever bought or sold gold, it's pretty much like straight cash in a jewelry store. Especially a gold bar or coin or some other form of bullion. Of course the difficulty is obtaining a gold bar at fair market value, typically there is such an upcharge when purchasing bullion that you may lose that potential margin when going to a jewelry store to make a purchase. But yea you bring a bar, with a significant amount of gold left over to pay for the labor, you'll be good on a trade. Any day of the week

yep, ive seen it done..i dunno why people up in here trippin thinkin it can't be done.

 

[jchambers]

lol norm I dont flat out agree with ninja, but honestly if you've ever bought or sold gold, it's pretty much like straight cash in a jewelry store. Especially a gold bar or coin or some other form of bullion. Of course the difficulty is obtaining a gold bar at fair market value, typically there is such an upcharge when purchasing bullion that you may lose that potential margin when going to a jewelry store to make a purchase. But yea you bring a bar, with a significant amount of gold left over to pay for the labor, you'll be good on a trade. Any day of the week

This is what Ninja doesn't understand. Anyways, here is the response from Daniel Jewelry which proves Ninja doesn't know what he is talking about and that I was right all along:



On May 9, 2013, at 1:18 AM, wrote:

> Hello,
>
> My name is Ninjas Hoodsta. I am interested in purchasing a 300 gram cuban link chain from your store. I am currently in possession of a 1000 gram 24 carat gold bullion bar. If I were to bring the gold into your store, would it be possible to trade the equal amount of gold for a cuban in your shop, and have you buy the rest of the bullion from me at 98% of current spot gold price? Would there be any extra charges, or could we do a straight up trade for equal weight? Thanks.
>
>
> Ninjas




DanielJewelryInc

1:35 PM (44 minutes ago)

to me
Hi,
I been checking in on Nike talk from time to time maybe once every 2 weeks and last time I checked on it was yesterday and I saw you guys had this discussion.
Well to get everything straighten out it would be more money to bring in the gold since as as dealers buy gold at a better price or buy in bulk to receive a better price than a walk in customer would.
However since gold has dropped it would be a couple hundred less if you buy the gold at spot price at $1,470 since I have not changed my prices and have gold bought in the higher gold prices. So a 300g chain would cost $2,300-2,400 to make a 300g chain to cover the cost of labor. If you were to buy it from me, my online price is at $11,550 ($38.50 a gram). So in 300g you have $8,295 of gold value (in todays price) so you would be paying $3,255 for labor vs. $2400 if you send us your gold. For cash buyers I sell 300g for $11,000 putting you at $2,705 in labor if your comparing it at today's price. So roughly is $300 more if your buying it in my store than buying your own gold if you do that today at today's prices. If the market is at the normal rate of $1550-1650 it does not make any sence to bring your own gold since we will sell the finished chain for a lot cheaper.
As for the left over grams in pure gold we are a buyer at 96-97% of the spot price.
So your answer is no we do not do straight up trades for gold since unfortunately jewelers like myself or my team of jewelers that work for me do not work for free and need to charge labor cost for the time, quality, and alloys mixed into the gold.
I hope this answers all your questions and get that straighten out.
Any other questions let me know.
Thank you.

David/Manager
Daniel Jewelry Inc.
Tel: (305)558-7446
Email: info@danieljewelryinc.com
Web: DanielJewelryInc.com

Facebook







Goodnight.

 

[graz]

 

[jchambers]

This is what Ninja doesn't understand. Anyways, here is the response from Daniel Jewelry which proves Ninja doesn't know what he is talking about and that I was right all along:



On May 9, 2013, at 1:18 AM, wrote:

> Hello,
>
> My name is Ninjas Hoodsta. I am interested in purchasing a 300 gram cuban link chain from your store. I am currently in possession of a 1000 gram 24 carat gold bullion bar. If I were to bring the gold into your store, would it be possible to trade the equal amount of gold for a cuban in your shop, and have you buy the rest of the bullion from me at 98% of current spot gold price? Would there be any extra charges, or could we do a straight up trade for equal weight? Thanks.
>
>
> Ninjas




DanielJewelryInc

1:35 PM (44 minutes ago)

to me
Hi,
I been checking in on Nike talk from time to time maybe once every 2 weeks and last time I checked on it was yesterday and I saw you guys had this discussion.
Well to get everything straighten out it would be more money to bring in the gold since as as dealers buy gold at a better price or buy in bulk to receive a better price than a walk in customer would.
However since gold has dropped it would be a couple hundred less if you buy the gold at spot price at $1,470 since I have not changed my prices and have gold bought in the higher gold prices. So a 300g chain would cost $2,300-2,400 to make a 300g chain to cover the cost of labor. If you were to buy it from me, my online price is at $11,550 ($38.50 a gram). So in 300g you have $8,295 of gold value (in todays price) so you would be paying $3,255 for labor vs. $2400 if you send us your gold. For cash buyers I sell 300g for $11,000 putting you at $2,705 in labor if your comparing it at today's price. So roughly is $300 more if your buying it in my store than buying your own gold if you do that today at today's prices. If the market is at the normal rate of $1550-1650 it does not make any sence to bring your own gold since we will sell the finished chain for a lot cheaper.
As for the left over grams in pure gold we are a buyer at 96-97% of the spot price.
So your answer is no we do not do straight up trades for gold since unfortunately jewelers like myself or my team of jewelers that work for me do not work for free and need to charge labor cost for the time, quality, and alloys mixed into the gold.
I hope this answers all your questions and get that straighten out.
Any other questions let me know.
Thank you.

David/Manager
Daniel Jewelry Inc.
Tel: (305)558-7446
Email: info@danieljewelryinc.com
Web: DanielJewelryInc.com

Facebook







Goodnight.

I don't even see how hard that was to understand in the first place.

It wasn't hard for anyone in here, except for Ninja.