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Did I score on Kmart going out of biz sale?

ErrosionOfAccord

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#1
Was wasting time in a defunct Kmart and looked in the jewelry glass. Saw some cheap 10k 4mm men’s wedding bands for &49.99. Did a little looking online and couldn’t find the same ring for less than $180. Went ahead and bought the five that were marked $50. Asking the guys who know jewelry, was it a bargain, a bust or a breakeven?
 

Professur

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Naw, you're all set for marrying 5 guys now. Mozeltov.
 

DodgebyDave

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Muttons will be glad to see you!
 

newmisty

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Was wasting time in a defunct Kmart and looked in the jewelry glass. Saw some cheap 10k 4mm men’s wedding bands for &49.99. Did a little looking online and couldn’t find the same ring for less than $180. Went ahead and bought the five that were marked $50. Asking the guys who know jewelry, was it a bargain, a bust or a breakeven?
Only if you can sell them for a good bit more than $50 bucks each. I'd be surprised if that would be possible or worth the hassle of trying. Like FR asked, what do they weigh?
 

newmisty

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ErrosionOfAccord

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I’ll weigh em when I get home to the powder scale in a day or two.
 

oldgaranddad

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I have a 4mm 10k wedding band that I bought right before my wedding day in 1990 from Service Merchandise. (Still married.) Service Merchandise is long gone for many reasons, one I’ll mention here.

I occasionally help a friend teach coin and jewelry classes. We put my ring in the XRF analyzer and show that it is a solid 9k not 10K.

Lesson here is that suppliers for big discount stores often under carret in later deliveries. If they get caught they offer to replace the stock delivered. The upside for the supplier is when you are selling thousands of rings to a chain calculate how much money they save by only providing one carret less than stamped. Very few are prosecuted since they can claim a manufacturing error unless they get caught in a pattern of deception.

Hopefully @ErrosionOfAccord got true 10k rings. Fingers crossed.
 

newmisty

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I have a 4mm 10k wedding band that I bought right before my wedding day in 1990 from Service Merchandise. (Still married.) Service Merchandise is long gone for many reasons, one I’ll mention here.

I occasionally help a friend teach coin and jewelry classes. We put my ring in the XRF analyzer and show that it is a solid 9k not 10K.

Lesson here is that suppliers for big discount stores often under carret in later deliveries. If they get caught they offer to replace the stock delivered. The upside for the supplier is when you are selling thousands of rings to a chain calculate how much money they save by only providing one carret less than stamped. Very few are prosecuted since they can claim a manufacturing error unless they get caught in a pattern of deception.

Hopefully @ErrosionOfAccord got true 10k rings. Fingers crossed.
My mom still has a Service Merchandise front-end roto-tiller she got before I was born. Things a beast!
 

newmisty

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Service Merchandise was like Amazon, without the internet. Find the item you want in the catalog, pay for it, and a few minutes later it is delivered to you.
.
.
Loved breazing that catalog as a kid. Music gear and lingerie. :p
 

Hystckndle

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#14
Went to Kilimanjaro in late 80s.
I like to barter for stuff so I
wanted " trade goods " .
I went to two area Service Merchandise stores that had little wallet size solar calculators for something like 3.95 each.
Expensive at the time but a novelty they were. Desirable in the sticks too.
Ladies at each store said " how many do ypu want ? "
Never forget the look of the one lady, who had like 10 in the case , when I said
" all of them "...
Just tossed the last one a few weeks ago.
Thanks for bringing that up.
Good memories.

And yeah, an early Amazon.
Years ahead of the times.
Ours had a conveyor,
brought you anything you wanted from the back in 5 minutes.
Regards to all,
 

hammerhead

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Back when gold was high, I bought a engagement ring for $40.00. That was what I got for scraping it too but the scraper at the time had to cover his costs also.
 

Bottom Feeder

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#17
ring in the XRF analyzer and show that it is a solid 9k not 10K.
From what I understand all jewelry is slightly under-careted. After all the maker is allowed ± specs for marking but do you think they ever spec the caret on the minus side of what it really is?

The best markings on 'jewelry' is in fineness.

BF
 

newmisty

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#18
Went to Kilimanjaro in late 80s.
I like to barter for stuff so I
wanted " trade goods " .
I went to two area Service Merchandise stores that had little wallet size solar calculators for something like 3.95 each.
Expensive at the time but a novelty they were. Desirable in the sticks too.
Ladies at each store said " how many do ypu want ? "
Never forget the look of the one lady, who had like 10 in the case , when I said
" all of them "...
Just tossed the last one a few weeks ago.
Thanks for bringing that up.
Good memories.

And yeah, an early Amazon.
Years ahead of the times.
Ours had a conveyor,
brought you anything you wanted from the back in 5 minutes.
Regards to all,
Yeah, order at one end of the store and kinda like the airport you'd wait for your goods to come through those doors. Fond mammaries. :blond:
 

newmisty

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#19
1543161683520.png


1543162101905.png


Service Merchandise Catalog circa 76/77
1543161834530.png

1543161783579.png


1543162049961.png
 

ErrosionOfAccord

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#20
My home town had a Kendrick’s instead of a Service Merchandise. Same concept
 

Rollie Free

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#21
Correct me if I am wrong but isn't jewelry about the most overpriced nonsense on earth? Outside of the raw metal value it is worthless. Unless of course you can find a gullible woman or gullible man under the spell of a woman. Retail jewelry is a thing unto itself. One expects to pay a bit more for anything retail but jewelry exists in lala land. Once out of the store the metal is scrap and the diamonds (unless significant) are worthless.
Retail jewelry depends on soul-less, BS spewing, pathological lying salesman and ignorant customers.
 

ErrosionOfAccord

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#22
Retail on the rings was $499 as a perfect example. Even in Kmart land that’s ridiculous.
 

DodgebyDave

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#23
Diamonds are neither "rare" nor are they
Forever

I love how in the cop teevee show some guy is trading diamonds for something of value.

LoL

Nobody trades anything for diamonds. A real criminal would laugh and then bury your corpse in the desert
 

Bottom Feeder

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#24
A few years ago I was buyin gold jewelry from people I knew at work. I'd take it home, test it and usually offer them 80% melt. I acquired some nice 18 to 24 caret jewelry that way. We had engineers from India that had 22 caret and Chinese and Vietnamese that had 24. Those guys were a little harder to bargain down much because they knew they could get better than 80% at their own gold stores. But the white people — sometimes they thought they was rippin me off, what with them buying it ten years before for about as much as I was offering them.

ah, the good days...

BF
 

ErrosionOfAccord

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#25
The Rings come in at about 39.5 grains/2.56 grams.
At 9k my break even is about $1600 an ounce scrap.
At 10k my breakeven is about $1450 an ounce scrap.

Guess I'll just throw the damned things in the garbage cause we all know those prices will never happen.
 

ErrosionOfAccord

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#27
Nah, I'll sit on em. It was a gamble I was willing to take. It's still metal I didn't have before. If the shit ever does really hit the fan they might be good for barter. As of today they are worth $41.87. Only a $45 loss with all five of them.
 

newmisty

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#28
A few years ago I was buyin gold jewelry from people I knew at work. I'd take it home, test it and usually offer them 80% melt. I acquired some nice 18 to 24 caret jewelry that way. We had engineers from India that had 22 caret and Chinese and Vietnamese that had 24. Those guys were a little harder to bargain down much because they knew they could get better than 80% at their own gold stores. But the white people — sometimes they thought they was rippin me off, what with them buying it ten years before for about as much as I was offering them.

ah, the good days...

BF
Did you send them off to a refiner or lose em in the lake?
 

newmisty

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The Rings come in at about 39.5 grains/2.56 grams.
At 9k my break even is about $1600 an ounce scrap.
At 10k my breakeven is about $1450 an ounce scrap.

Guess I'll just throw the damned things in the garbage cause we all know those prices will never happen.
Outta curiosity I checked ebay sold listings and one of the first few hits is a similar band a gram less and sold for $41

https://www.ebay.com/itm/10k-Yellow...853480?hash=item4b557dc6e8:g:zfUAAOSwgdBb8Y5-
 

Irons

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#30
Correct me if I am wrong but isn't jewelry about the most overpriced nonsense on earth? Outside of the raw metal value it is worthless. Unless of course you can find a gullible woman or gullible man under the spell of a woman. Retail jewelry is a thing unto itself. One expects to pay a bit more for anything retail but jewelry exists in lala land. Once out of the store the metal is scrap and the diamonds (unless significant) are worthless.
Retail jewelry depends on soul-less, BS spewing, pathological lying salesman and ignorant customers.
Yep, I have scrapped over 200 Gold rings. Jewelry is worth the metal's scrap value and that's it.
"But it has diamonds!" Diamonds are worthless, Gold is King. Tell people that and they refuse to believe it.
Big fat wedding bands are $$$ because they are solid Gold with no stones or other crap to pad the actual weight.
Big school class rings you pinch with pliers until the stone falls out or shatters and weigh the rest.


.
 
Last edited:

DodgebyDave

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Diamonds are great for machine tools and a source for ghost stories
 

Bottom Feeder

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Did you send them off to a refiner or lose em in the lake?
<heh> for a while there it was the source of great reward from the wife unit — she wound up with a good portion of them. I didn't bother with a refinery, I took the ugly ones to my LCS where he usually gave me about melt for them (which I usually spent there on that dog, silver). I did wind up with about a quarter pound of wedding rings that I kept for barter if TSHTF.

BF
 

TomD

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#34