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Passing shop equipment & metals on

Jewelry Discussion
#1

I have closed my walk in trade and am focusing on design, consulting and a few other things. My clients seem to like my style. I am in SW Michigan. Here are my questions:

  1. I have a rolling mill that is about 3 years old. I bought it new from Pepe. It does flat, square wire from round and half round from square or round. Perfect condition. Can’t find anyone local (within 25 miles) that is interested. Either they have one or can’t afford 50% off list price. It comes with a great stable stand.

  2. I have not sold all my sterling silver, Argentium, or Sterlium sheet, wire, or findings. What are my best options here to sell it or turn it into cash?

#2

For the rolling mill, If your local smiths aren’t biting, there are a ton of facebook groups for jewelers’ destash and tool sales. For your metal, I would contact the original source for your metals, and see if they offer a buy back price that’s better than the scrap price. If not, I would offer the metal to the FB groups for slightly less than would be on otto, contenti or rio. With the way metal prices have gone up, you will probably still make a profit.

#3

Hi Ginger,

Go into your kitchen and put all the silver onto your kitchen scales.
One has to know what the total weight is!!
Ill pay you cash per gram 50% of what you paid for it By bank
transfer.,assuming theres a reasonable amount like half a kilo,or more.

Once agreed ill get DHL to collect, ill pay shipping.
Ted.frater@gmail.com.

#4

I’m inclined to think that may not necessarily be a good deal, depending on when it was purchased.
It may be less than 50% of spot in a high value time.
Then again if that is the offer you get, that is what you get,
Will the one you purchased it from, buy it back at a reasonable price?

1 Like
#5

Where are you located?

#6

I would think a base price would what a refiner would give you for it as scrap…so check with one of them. I think they would be at around 90% of spot or more. Then I would look at what the suppliers are selling various sheet and wire for…there is, as you know, a mill fee added to spot. This is pretty much what the rest of us are paying unless we are making ingots and rolling out sheet and wire. If we are casting ingots, we are valuing our silver at spot or at whatever casting grain is costing. The yearly low for silver was about $21.50 and it’s been up somewhat since the Ukranian situation, and that will probably keep it up above $24 for a while…at least that’s my prediction. So there are some benchmarks. If you were to list some of what you had, someone here might want the particular stuff you have and pay at a slight discount from what it would cost them to buy from one of the suppliers.

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#7

Do a search on the text “Precious Metal Scrap Calculator”. Here is an example:

All you need to know is the weight and what it is. Then you will know what it likely is worth on any particular day, what to sell it for that day or if an offer that day is reasonable.

Regarding the mill: someone should want it. Open your search area, look for a local rock and mineral and/or jewelry club, look for people doing jewelry classes in your area, look at the jewelry tools for sale FB groups. A mill like this should move quickly. Good luck…Rob

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#8

After nearly 50 years, I have acquired a lot of “stuff” in my shop. The question has come up more than once, “What is to be done with your shop should you fall over dead”? I am nearly 73 and, while I hope to live and make jewelry for another 20 years, it is a fair question for my wife and kids to ask me. To that end, I have recently done a complete and, I hope, helpful inventory of my shop to include pictures, descriptions, and estimate of the original price and some idea what the current price should be for many of my tools and larger pieces of equipment. This inventory also recognizes that many tools are only valuable to me because of how I use them or have modified them. Other tools like my mills, presses and lapidary equipment have general value. I have included in my inventory suggestions on how and to whom various pieces should be disposed of. In the end, the most valuable things in our shops are our hands and head. Since they can’t be sold unless we write books, there is no way to capitalize on what we know other than to pass it on to others. I currently have no one interested in being my apprentice. Just a thought…Rob

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#9

Hi,
after you make an inventory list of your metals, you can:

  1. use this scrap calculator from Rio Grande to estimate your total used/ new recyle scrap value. This would give you an idea of the low value you would be likely to get.
  1. look up the current price/ value for each piece/ weight of your fresh unused metals. This would give you an idea of the highest price you would be likely to get.

this may help you to determine what prices you want to sell your metals for.

perhaps do:
one box of all the scrap pieces
one box of sheet
one box of wire
one box of chains
one box of bails…

or

one box of sterlium
one box of argentium
one box of regular sterling silver
etc

julie

1 Like
#10

Hi Ginger,

Go into your kitchen and put all the silver onto your kitchen scales.
One has to know what the total weight is!!
Ill pay you cash per gram 50% of what you paid for it By bank
transfer.,assuming theres a reasonable amount like half a kilo,or more.

Once agreed ill get DHL to collect, ill pay shipping.
vladimir.frater@gmail.com.

Please note correct email address

#11

Thank you all so much. I am in the Kalamazoo, Michigan area. Don, I will be 77 soon. Still love my Jewelry designing. Family health takes priority or I would never quit. I have already sold the scrap at almost Rio price.

I will check out each of the suggestions. I will even check on rolling mill.

Ginger

1 Like
#12

If you take pics and list what you’re selling with a fair price in the “Metalsmith Destash” group on FB, you’d sell your stuff in a heartbeat. I’d list the silver at a price in between Rio’s scrap price and the current silver stock price. Good luck!

1 Like
#13

Thanks. The only thing to adopt out now is the excellent condition Pepe Rolling mill. Lots of gravity included.

1 Like
#14

Hi Ginger,
I’m in Grand Rapids and would be interested in your rolling mill. Which mill is it?
Tod

#15

I can so relate! I’m 76 and have a lot of equipment to dispose of (central London UK), now that I no longer have a workshop. An issue I’m still grappling with.

#16

Hi Paul,

Ted frater here, im in Dorset Nr. CorfeCastle, and still working!!
aminterested in whatkit/tools/etc you have. Cancollect.
Contact me off list at vladimirdotfrateratgmaildotcom.
Await your reply.
Ted.

2/04/2022 10:45, Paul Jelley via Ganoksin Orchid Jewelry Forum Community
for Jewelers and Metalsmiths wrote: