Headlines

High Gold Prices Bring Jewelry Sellers ‘Out of the Trenches’

Gold is at its highest price levels in years.

Published

5 years ago

July 1, 2019

INSTORE Staff

Recyclers and refiners of gold are seeing a surge in people looking to sell old jewelry, Bloomberg reports.

That’s the result of the recent uptick in gold prices, which had for several years stayed below $1,350 an ounce.

Gene Furman, CEO of refiner Empire Gold, told Bloomberg: “People are coming out of the trenches. Cartier, Rolexes, Tiffanys, Van Cleefs: We see an uptick in the luxury market because people need to raise money.”

Gold prices recently crossed $1,400 an ounce to hit their highest levels since 2013. On Monday afternoon, gold was trading at around $1,386 an ounce.

Analysts with Goldman Sachs Group Inc. have said prices count reach $1,600 an ounce.

Tobina Kahn, president of House of Kahn Estate Jewelers, told Bloomberg: “The tides are turning big time. As a gemologist, I’m a buyer, if I can see that gold is continuing to go up, I’m more confident about paying more for it than having it go down.”

Read more at Bloomberg

Looking for a Seamless Sale? Call Wilkerson

After almost 60 years in business, Breakiron Jewelers in Erie, Pennsylvania, was closing its doors. And the store’s owner, Linda Breakiron, was ready for it. She had run the store as its sole owner since the beginning of the millennium and was looking forward to a change. Of course, she called Wilkerson. Breakiron talked to other jewelers who had used Wilkerson and was satisfied with their response. “They always had positive feedback,” she recalls. With the sales, marketing and even additional inventory that Wilkerson provided, Breakiron insists she could never have accomplished her going-out-of-business sale without Wilkerson’s help. She’s now ready for the journey ahead, but looking back, she’d be sure to recommend Wilkerson. “They just made the whole process very seamless.”