How much is an 18K gold necklace worth? Asked Kelly
How much is an 18K gold necklace worth? – Our answer
This question drives many people who have serious plans to sell their gold jewelry. We have answered this question for a young lady from San Francisco wondering about her own jewelry. Unfortunately there is no general answer to this question that applies to all inquiries. An old 18K gold necklace showing significant damage or signs of wear can be described as scrap gold. For this type of jewelry, the stock market value of 18K gold is the most important factor for the value estimation.
Stock market value of 18K gold per gram: $30.72
reDollar purchase price for 18K gold per gram: $27.68
The value estimation becomes more complicated if you have an 18K gold necklace from a famous brand like Tiffany & Co. or Cartier. Then the material value plays a secondary role, and the necklace’s value is significantly higher because of the famous jeweler who produced it.
The most complicated value estimations we perform are for jewelry with colored gemstones and/or diamonds. The more stones are set, the more intensive and time-consuming the appraisal process is. Each stone has to be checked with different testing methods to find out more about the quality and the value. To determine how much an 18K gold necklace is worth, each case must be evaluated individually. As any reliable gold and jewelry buyer will confirm each jewelry piece requires a different appraisal method.
Sell 18K gold jewelry with us
If you want to sell your gold jewelry, the most important decision is to sell to the right buyer: a buyer who pays you top prices. reDollar pays 90% of the stock market value for your gold, plus premiums for diamond and gemstone jewelry or jewelry from famous brands. With us, a top deal is guaranteed.
Market price for 18K gold per gram: $30.72
reDollar price for 18K gold per gram: $27.68
Find out how much an 18K gold necklace is worth
Kelly asked, How much is an 18K gold necklace is worth?
Good morning, guys! I just found your website and I’m very excited about getting a free appraisal for my 18K gold necklace. I don’t know the current value, but I would like to sell it. I read that it’s recommended to know the value before starting a comparison, which is why I need your help. Please let me know how much an 18K gold necklace is worth. Thank you!
Kelly from San Francisco, California
Hi Kelly! Thank you very much for contacting us. My name is Maria Tait and I’m responsible for our company’s jewelry appraisals. I will investigate how much your 18 karat gold necklace is worth. With your assistance, the appraisal can be done in just a few minutes. Let’s get started right now to see how valuable your gold necklace is.
reDollar appraiser Maria Tait
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Kelly wants to know, how much is an 18K gold necklace worth?
Kelly: Hi Maria! How are you?
Maria: Hello Kelly! I’m fine, thank you. How are you? I just received your email with the nice photos of your 18 karat gold necklace. It looks really beautiful and solid. I also noticed the diamonds, so it’s really a diamond and gold necklace.
Kelly: Yes, you’re right. I’m happy that you like the necklace.
Maria: I do like it! Could you tell me a bit more about the necklace? Do you know where it was bought, how old it is, or any other details that might be useful? If you have a jewelry certificate handy, please let me know what it says.
Kelly: Unfortunately I have no certificate or appraisal available. My ex-boyfriend gave me this gold necklace as a gift. He worked in finance in New York, so he might have bought the necklace there, but I’m not sure. I think he gave me the necklace in 2009, so six years ago. I’m a ballet dancer and at the moment I don’t have many performances which is why I would like to sell this necklace. Furthermore, I doesn’t really bother me to get rid of these old and painful memories. The relationship was very challenging for me, and I don’t need to keep jewelry to remind me of it.
Maria: Oh, I’m sorry for you, Kelly. Based on your information, I assume that your 18K gold and diamond necklace was bought approximately six years ago in New York, right?
Kelly: Yes, that should be the case.
Maria: OK, thank you. Can you find any hallmarks or engravings on your necklace? In most cases, you should be able to find markings or stamps, often on the closure of the necklace.
Kelly: Yes, I can see an 18. That’s why I’m pretty sure the necklace is made of 18 karat gold. I also see a name, but I’m not sure what it means.
Maria: If you have a magnifier handy, try to inspect your necklace with that. A 10 power magnifier should help you to read the hallmarks and engravings.
Kelly: That’s a fantastic idea. Thank you! The name I see is Webb. Do you have an idea who this could be?
Maria: Yes, I do. Your 18K gold necklace was made by the famous New York jeweler David Webb. David Webb is a big name in the jewelry industry: it stands for luxury and high-end jewelry. Famous clients of David Webb have included Liz Taylor, Helen Mirren, Jennifer Garner, Jacqueline Kennedy-Onassis, and Beyoncé, just to name a few. David Webb passed away in 1975, but during his lifetime he was very famous for his animal motifs, Maltese cross brooches, and dragon bracelets. Webb was a self-taught jeweler, but as we can see, a very talented one.
Kelly: Oh! That’s amazing. I wasn’t aware that this necklace was manufactured by such a famous jeweler.
Maria: Yes, Kelly, good news for you. Let’s go ahead with the evaluation of your 18K gold necklace and answer the question of how much is your 18K gold necklace is worth. I think in this special case, it’s much more than you expected.
Kelly: Oh yes, I think the value will surprise me. I hope so, at least – it seems promising!
Maria: I’m very optimistic, Kelly. When we talk about scrap gold, which includes old gold, broken or damaged jewelry, and gold that isn’t used anymore, we calculate a piece of jewelry’s value by its weight. In your case, weight does not play the primary role. The condition of your diamond and gold necklace seems to be very good, and more importantly, it’s a designer piece from a famous jeweler. Since both of these are factors that affect the necklace’s value. We don’t calculate the value solely by weight. Nevertheless, the weight is useful for determining the material value. Could you please weigh your David Webb necklace?
Kelly: Yes, I can. I only have a basic kitchen scale, so I hope it’s acceptable for weighing my necklace. It shows a weight of 43.08 grams.
Maria: A kitchen scale is fine. Thank you! 43.08 grams of 18 karat gold reflect a current (melt) value of $1,323.58. This is only the material value of the 18 karat gold, not the final value of the necklace itself. I was also able to find out that your necklace contains platinum. The 18 karat gold link chain also has a chevron-shaped-circular-cut diamond plaque with 40 diamonds. This plaque is mounted in platinum. The platinum content is very low, but it raises the total value of your David Webb diamond and gold necklace. Also, the diamonds have a certain value. When you sell jewelry, never sell it below the material value, no matter what stories potential buyers may tell you.
Kelly: Thank you, Maria. I will follow this useful advice! What do you think? How much is my 18K gold necklace worth?
Maria: In your case, I would estimate a fair market value of circa $8,000. But your example is not a standard example. The majority of pre-owned jewelry is calculated like scrap gold, meaning only the material value is calculated for an evaluation. But you own a special designer piece from a famous jeweler, that contains 40 diamonds, which changes the situation significantly. That’s why your gold necklace is worth much more than just the scrap value.
Kelly: So if my necklace were from a no-name goldsmith and did not have these nice diamonds, the value would be significantly lower?
Maria: Yes, exactly! If that were the case, the current value would be $1,323.58.
Kelly: Wow, that’s an amazing difference! Thank you for the accurate appraisal. I’m very happy with it.
Maria: Thank you, Kelly! Now you know what your 18K gold necklace is worth, but please be aware when you sell it that a potential buyer can’t pay that price: there is always a profit that needs to be calculated too. We say a fair buyer’s profit should never exceed 10- 25%. The lower the profit, the higher your payout amount.
Kelly: I will compare options in my area, and if there is nobody who will pay me a decent amount of money, I will definitely come back to make a deal with you.
Maria: Thank you. That sounds like a great plan. I’m happy that I could help you!