Category Archives: Gold Smart Blog

Latest news and articles from the world of Goldsmart.

Sell Jewellery

Christmas time is upon us and it’s a great time for giving and spending time with loved ones. If you are looking for extra cash these holidays, remember you may be sitting on a gold-mine in your jewellery box.

The gold prices when selling jewellery depend on the carat and weight of the items. The heavier in grams or ounces and the higher the carat, the greater the value. Jewellery that’s 18ct/750, 22ct/916 and 24ct/999 will provide the greatest gold content and therefore the most return on your items.

Examples may be necklaces made in Hong Kong by Chow Tai Fook, bracelets by Tiffany & Co., high-class jewellery from London, New York, Saudi Arabia, Dubai, Thailand, India, China and others will have higher gold percentages and therefore scrap gold value. As gold buyers it’s always interesting to hear the stories behind your favourite accessories.

If you are looking for excellent prices and fantastic service, sell jewellery to Gold Smart today.

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Create a Christmas spending plan to save money

Christmas is the time of year to celebrate and enjoy time with family and loved ones. On the other hand this can easily become a time of stress, due to financial commitments and pressures. Even though there are only a couple of weeks to go it’s never too late to save money this year, start by creating a spending plan for Christmas. (We prefer to call it a spending plan rather than a budget!)

Always make a list of Christmas gifts to offer

There’s nothing like having a list of Christmas gifts to work with: in addition to being practical and avoid overspending, it allows you to define at the beginning how much you want to spend with each recipient. Once you have compiled this list of names, group names according to spending amounts – we already know that we always have a few more expensive gifts than others, and everything becomes easier as you have an immediate picture of upcoming expenses. In addition, these initial accounts will also allow you to make adjustments in the value of a gift if you think it is beyond your budget and you can work out if you have some room to manoeuvre in case you wish to get some extra money for Christmas presents.

Make a list of other Christmas expenses

Remember to make a list of all expenses, without forgetting important aspects such as:

  • Christmas decorations
  • Christmas tree (including whether to buy a real pine or not)
  • Wrapping paper, ribbons, bows
  • Labels, adhesive tape
  • Christmas cards, envelopes, stamps
  • Shipping fees for gifts that will be send by mail
  • Food for the festive season (Christmas dinners, Christmas Eve night,
  • Christmas Day, chocolates, sweets, etc)
  • Clothing/footwear for the Christmas holidays
  • Travel expenses in case you will be spending Christmas away from home.

Examine your budget

Now that you know your costs, you need to check your funds available for Christmas and analyse your savings. It involves answering one or both of these questions: How much money do you have to spend this Christmas? How much money do you want to save this Christmas? From there, and knowing what is the final value you have to spend during the month of December, establish how much you want to spend on each area of Christmas expenses, correcting the values that you may have already outlined in the preparation of lists of Christmas gifts and expenditure.

In order to “stretch” their available funds, many kiwis are selling their unwanted gold and silver jewellery to Gold Smart. With the high price of gold and silver you would be surprised with how much you can earn to make your Christmas even more exciting.

Think and research before you buy

A Christmas spending plan is not just a piece of paper with names and numbers. It implies action and, if you want to save money (or at least avoid debt), you must research before buying. Once you know you have a certain amount to spend per person, work out an idea of what you will buy for each person. By knowing in advance what you want to give to each person in your list, it will be easier to search the best place to purchase each gift, whether online or in a physical store. In addition, you should keep an eye on brochures and discount coupons to save you money on everything you need for Christmas.

Follow the Christmas spending plan no matter what

Once you’ve created a spending plan for Christmas, now comes the most important part: Follow it! Although this is not always easy, it is crucial if you want to avoid unnecessary debt and even save some money. Some tips to help fulfill the Christmas budget:

  • Always take the list with you!
  • If possible, bring the exact amount of money in cash you wish to spend. This will avoid overspending on eftpos and credit cards and unnecessary purchases.
  • Avoid shopping in the hours/days that you know it will be very crowded because in these environments shoppers are prone to impulse and/or unnecessary buying. The earlier you start the better.
  • Try Christmas shopping all in one day or at least concentrating shopping in large blocks, thus avoiding extra costs of fuel, parking, etc.
  • If you shop online, avoid the credit card as much as possible, opting instead to pay via ATM, bank transfer or PayPal. In addition, try to group as many items to avoid multiple shipping charges.
  • Keep a record of all expenditures carefully and follow your Christmas spending plan to not to exceed your limit. When you finish your Christmas shopping, keep the budget to review, and to use it next year.

Good savings and Merry Christmas, from Gold Smart!

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World’s first ever gold jewellery car

MUMBAI: The Tata Group unveiled a Nano car made with gold and silver, and studded with precious stones worth an astronomical 22 crore (that’s over $5,675,123 New Zealand dollars).

Gold CarBut, it’s not for sale – the valuable and fully functional car is a unique branding and promotional initiative by Goldplus Jewellery, part of Titan Industries, a Tata Group company, an official said.

The Goldplus Nano Car is billed as the world’s first ever gold jewellery car and celebrates the 5,000 years of jewellery manufacturing industry in India.

The car’s body is made with 80 kg 22 carat solid gold, 15 kg silver, precious stones – including diamonds, rubies – and other expensive gemstones.

“As many as 14 techniques of jewellery making have gone behind the effort — from the intricate filigree work to the delicate and colourful meenakari work, the stunning kundan to the traditional naqashi…marking the convergence of diverse and culturally distinct jewellery making techniques from around India,” the official told IANS.

Titan Industries managing director Bhaskar Bhat said that since eternity, jewellery made with gold and precious stones has been an integral part of the Indian woman’s life.

“Indian jewellery has been an epitome of innovation and creativity, and carved a niche worldwide for itself for the intricacy of the designs crafted out of the precious metals and stones,” said C.K. Venkataraman, COO, jewellery division.

Nano car made with gold and silver, and studded with precious stones

After its glittering launch in Mumbai, the Goldplus Nano Car will travel to all the Goldplus showrooms at 29 locations around the country.

The car incorporates beautiful designs, made with the precious stones of different colours, set on the gold and silver body of the car.

Original Source:  Times of India

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Gold, its colours and applications in jewellery

Demystifying the Gold Colour

It is very common to hear expressions such as “this jewel is from this or that region” or “this jewel is from this origin” because of its colour.

Others can often say “Gold with this colour??? No, this is not gold!” or “18 carat gold from that place is better”. However this couldn’t be further from the truth. Gold is a metal, therefore it is the same anywhere in the world.

Pure gold is 24 carat. 75% of 24 equals 18. Thus, a piece of jewellery that has 75% of pure gold is 18 carat (750/1000). The other 25% corresponds to the metal alloy that is combined with the gold. The colour of the jewellery is defined by the selection and composition of these alloys.

Colours of Gold

Gold remains always pure, even when connected to other metals. To be turned into jewellery, for being soft, gold requires the addition of other metals. This union with other metals is called league, which is also responsible for the colour of gold. Depending on the percentage of each of the metals that make up the alloy, the colour of gold can vary:

Gold + silver and copper = YELLOW GOLD

Gold + nickel or silver and palladium = WHITE GOLD

Gold + copper, silver and zinc = RED GOLD

18 Carat White Gold

Based on these facts 18 carat white gold would comprise 75% gold (Au) plus a mixture of palladium (Pd) and silver (Ag) or Nickel (Ni)

White gold is as valuable as the other colours. Usually it is made with a mixture of nickel or silver and palladium, and for this reason, the final appearance is dull and grey. In order to add shine, it is necessary to go through a technical process of finishing, popularly known as “rhodium plating.” Basically this process consists of immersing the jewel in a specific device which is placed another metal in solid state (usually platinum) that causes the rhodium in its liquid state to set in the jewellery. For this reason it is common that after a long period of usage, white gold jewellery require new rhodium plating, since the frequent use of the piece can wear off its shininess (but never the gold). Unlike plated gold, which has the noble metal only on the surface, white gold has gold as the main component.

For helpful advice on selling your jewellery, and a friendly and professional service, call GoldSmart and book an appointment with us today.

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National plans loan shark clampdown

From the NZ Herald, November 6th 2011.

National will change the law to clamp down on dodgy loans by forcing lenders not to give loans to people who would face significant hardship in repaying them.

A proposed change to consumer credit laws would set up a code of ethical lending, and require lenders to be open and transparent with borrowers. Any lenders who breached the code, such as by charging exorbitant interest, would be struck off if they did not heed warnings.

Mr Key said it would undoubtedly put some money lenders out of business. About one third of current lenders would not comply, and although some could clean up their game others would be forced out.

Mr Key said they were preying on the vulnerable. Read more

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How to set goals with focus and clarity

Many people lead their lives setting goals and making promises. It helps them to keep on their right track. In most cases, these promises and goals last about one week, if not less. Then, everything goes back to the way it was in the first place. To avoid falling into this trap, here is a basic plan to set goals with objectivity and clarity from GoldSmart:

Step 1: Differentiate a dream from a goal

Some times we can get confused establishing our dreams as if they were goals to be accomplished. Try not make this mistake, understand the difference between a dream and a goal. The dream is something you want, while a goal is your dream with a deadline to happen. In this context, the New Year promises can be good because they bring a dead-line by itself.

Step 2: Be precise

“Lose Weight” can be a dream for many people. For example: “Lose Weight in 2011″. It starts to resemble a goal. “Lose 5 kilos by December 31st 2011″ is now something much more specific.

When you are precise determining a target, you know exactly when you can have it as a goal fulfilled. For example, if you think only of “Losing Weight”, would you considered a goal achieved by losing 100 grams?

Step 3: Register the target

Thinking about goals is very interesting, but writing them is even better. Put your precise goals on piece of paper, or in any electronic device that you trust. Create a routine reviewing them constantly so they do not get lost in the course of the year.

Step 4: Set an action plan

Okay, you already know you want to lose 5 kilos by December 31, 2011. Now what? What will you do to achieve this goal? Probably will have to sleep more, eat better, exercise and drink plenty of water. The action plan should also be recorded and reviewed and, of course, be followed by you.

Step 5: Take action and follow

There is no logic to defining targets if you do not act to fulfill them. Having an action plan in hand, you should know what has to be done. So do not procrastinate, just do it. Regularly monitor your plan and actions during the year to see if you are going toward your goals or away from them.

Thus, when the deadline is approaching, you will be able to review the list and managed to see what you have achieved and what you could not. If you learn from your mistakes, you’ll be excited to try once again until you get what you want.

Finally, a slogan that I found very helpful: Do not do tomorrow what you can do today.

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Why is gold so valuable?

110 kilos of pure gold

King Tut's mask was made of more than 110 kilos of pure gold!

In human society we have developed various systems and methods for trading goods and services. Over time most cultures have come to use paper money as the preferred method to exchange value. Paper money is light, portable, uniform and generally non-degradable.

In some places in Africa, shells were used as currency. Ancient Roman soldiers were at times paid in salt (“worth their salt”). There were also societies that had used a type of seed as a symbol of value. The difficulty with all those items was that once they have turned into a symbol of value, it may have been easy for people to find, make, steal or collect more.  Normally what gives things value is how scarce, unique or rare they are and if the unit of currency is in plentiful supply (or becomes so) then inflation may occur. Meaning two carts full of shells (or paper currency) are now required to trade for a wagon of wheat.

Precious metals are different – it’s hard to get more. This creates a control over how much is available to everyone (supply and demand). Value is influenced by how much can be mined every year and how much is coming onto the market for sale. Gold’s excellent properties and aesthetic appeal have made it highly popular in jewellery and electronics.

Gold is the most malleable of all metals, it does not corrode and it’s virtually indestructible. Almost always found in pure form in nature it calls attention to the beauty of its colour and brightness. For these reasons, gold in ancient Egypt was already the favourite material for the manufacture of jewellery and other ornaments – and since then has never ceased to be associated with symbols of prestige and power. Their rarity also makes it extremely valuable. If these metals were in abundance, this would not happen. Gold was only adopted by England in 1821 – before then silver was the monetary metal. About 40% of the world’s gold came to be reserved by central banks of the richest nations, to guarantee their money’s worth.

Good time to sell gold

With prices up again now is a great time to make extra money from selling your old unwanted jewellery. The New Zealand dollar has also been showing signs of weakness, pushing the price of gold and silver even higher.

Call Gold Smart today and book an appointment with us. Our friendly and professional team will be ready to assist you selling your items in an easy and transparent way.

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Balazs Kiss and Suspect Emails

It’s frustrating when competitors email and call us trying to find out what makes Gold Smart unique and successful. We posted recently about Balazs Kiss appropriating content, design, ideas, images and other intellectual property from our website. The copyright infringement was so blatant and obvious due to them duplicating large parts of our original copy and even leaving our name in the text.

A few days after making this post we received a call from the marketing manager at Weta Digital. They were concerned that their name was mentioned in our blog post yet avoided challenging us on any of the information presented in the article. They also confirmed that Balazs was working for Weta in Wellington. Their approach was friendly and they mentioned that the post had caught their attention. Naturally our intention was to present the facts and let others decide what they thought of the details.

Weta Digital are known for their amazing Oscar winning visual effects pioneered on Lord of the Rings, King Kong, Avatar and others. We mentioned to Dave that emails and contacts were made from Weta Digital IP addresses, domains and email address. In our minds this would be concerning for any company as the employee had time enough to be sending such contact and doing so while on the company network.

Orginating IP Address from the Weta Digital domain

After talking with the marketing manager we felt it reasonable to remove their name from the post as they assured us he would be forwarding the information to his superiors and someone would be talking with Peter Kiss about the matter. This was nearly a month ago and despite a follow up call and email we have received no further reply from them.

Given the response to the copyright infringement we received when we first became aware that content had been taken, we felt that it important enough to make a blog post about the details.

We’ll keep you updated on further developments.

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Up to 50% off what?

Michael Hill

Michael Hill jewellery auction - Queen Street, AKL

It’s that time of year again when shopping stores around town start to put out Christmas decorations to entice customers. Retailers want to make sure those who like to start buying gifts early get what they want at a good price. Stickers with the word “sale” start to appear at the stores windows, but what does it mean?

A store is a business like any other – it relies on profits in order to pay for overheads including manufacturing, materials, shipping, insurance, retail shops, staff, commissions, and so on. Naturally profits have to be high to cover the various costs associated with running a retail business.

Many people when they see the word “sale” immediately assume that purchasing then they will be saving lots of money, not contemplating that the original mark-up may be very high and it doesn’t make sense to spend-money to save-money!

One of the Gold Smart team was walking along Queen Street this morning and came across an unusual sight. At first he thought there was someone famous inside Michael Hill Jeweller due to the number of people gathered outside, however soon noticed that what was happening was an AUCTION. That’s right! An auction for jewellery was happening in the middle of the street. He talked with one of the organisers to see what was happening and the staff member confirmed the street auction.

The Michael Hill staff were yelling, “$320…who gives more?” and people appeared excited about the “good deals” they thought they were making. Asking the staff for a little more information, she mentioned their store is currently selling gold and silver at half price, and that now is a great time to buy. Our colleague was thinking, 50% off what, retail prices?

Interestingly, the value of a jewellery in New Zealand is not sold or marketed on the inherent metal value (unlike many other countries around the World), but the aesthetic design, branding, manufacturing and sense of value to society. When people buy jewellery they normally pay much more than the metal price. Some items can go over 1,000% above the actual gold and/or silver value. This is especially true with certain brands and how well known they may be.

The price carries the workmanship, the brand, the design, overheads and you will be paying much more than the actual material costs. Jewellery may be considered like a work of art for it’s aesthetic value. Those aware of gold and silver metal value will be naturally more aware of the true worth of such items and will avoid spending too much money.

Next time you hear someone screaming they have a half price gold and silver jewellery sale – be aware. You might be getting a deal compared to normal retail mark-ups, however in most cases you will still end up spending much more than perhaps you should. If you want to know what something is worth, take it back to the shop the next day and see what they will pay you for it!

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Biting Gold Coins

Champion biting his gold medal

Many people are curious to know why in the old days it was common to bite gold coins – or other kinds of items made of gold – to confirm whether or not they were real. This practical and crude method was used for the authentication of gold, since this metal is very malleable. Thus, it was easily recognized if certain objects, especially the coins as payment or compensation for any service, were made ​​with this metal or just looked like it was. If a person bit a coin and verified that the bite mark was printed in the currency, this meant that the money was real (or soft enough to be gold).

Today the practice of biting gold coins seems unhygienic and imprecise. However centuries ago the technology and processes to accurately determine gold purity was not available to the average person – making identification of real gold a genuine concern.

Modern methods to confirm if jewellery is real gold or fool’s gold is by checking for hallmarks and gold stamps. These are required by law in most countries and will show the gold purity, for example 18k means that the piece has 75% of gold. Gold is also non-magnetic meaning if you put a strong magnet close to the item it won’t be attracted to it.

Another test some people perform is rubbing the gold item in a smooth white wall. If it is real gold the wall will have a dark mark. But who wants to risk damaging their wall or even their jewellery?

Our specialized team at Gold Smart will confirm your jewelry is authentic by checking the stamps on the items, performing a magnet test, making acid tests and several other methods as required.

It’s best not to damage your walls rubbing jewellery on them or biting coins risking getting a broken tooth. If you have some gold or silver pieces you want to sell, bring it to us. We will test it for you and make sure you get a great price for your valuable gold and silver items.

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