Price growth, inflation and interest rate increases mean that many people are now looking through drawers and cupboards for valuables that can be sold. There may be unused silver cutlery, heirloom jewelery or gifts from previous partners. But also objects that people would rather keep are now being sold to make ends meet. – They come with items they don’t really want to sell, like the jewelery left by their mother. It has happened that people have shed tears, and that does not give a good feeling, says buyer Haakon Sivertsen. Haakon Sivertsen at Gullmannen learns that more people now feel compelled to sell jewelery and silverware. Photo: Gry Eirin Skjelbred / news He is running the shop “Gullmannen” in Tønsberg in his second year, and is now experiencing great success. Although this may be due to several factors, Sivertsen notes that bad advice is among the causes. news has seen the accounting figures which show that this autumn he has bought three times as much silver and gold as at this time last year. Just while we are present in the shop, a customer comes in and sells silverware that is left over. Two other potential customers on the phone will inquire about sales and prices for silverware and jewellery. One says he is “struggling with bills and such”, and needs to sell to get money to buy a car. Everyone is recommended to try to sell the items privately first, but on Finn.no there are already over 42,000 hits under the Jewelery and storage category. – Be skeptical In the store, all silver and gold that comes in is weighed, assessed and registered. To check that they are genuine goods, he examines with acid. – The profit is anywhere from 10 to 100 per cent, but the market determines the prices. The item determines what it is worth. A second-hand license from the police is required to sell silver and gold. – You should generally be skeptical, and preferably consult with several actors to check that you have not been deceived. You should not jump at the first and best advertisement that appears. He wants to preserve the jewelery he buys and sell it on. But something also goes into remelting. – It is a buyer’s market. There are many sellers, few buyers. Some of the jewelery that comes in are items that the owners would have preferred to keep. Photo: Gry Eirin Skjelbred / news – Change in autumn That there have been changes in autumn is confirmed by several other places online that buy gold. At the “Gold Bank”, there has been an increasing influx of people who want to sell gold since August. – There was a noticeable change after the summer holidays, says chairman Espen Johansen. He believes it is due to the high price of gold and general economic conditions. Espen Johansen in Gullfunn says there has been a clear increase in people wanting to sell gold since August. Photo: Gullbanken People don’t say it outright, and they can’t give figures, but he has the feeling that it’s due to bad times. – There has been a high rise in prices in society, and it seems as if people are freeing up money by selling rings, jewelery and gold. At “Gullvekten”, it is estimated that they have now bought 20 to 30 per cent more than in the whole of last year. – Our customers are more price conscious than they need money on the day, and we usually recommend that they do not sell the gold if they don’t have to, says John Hannerfalk. – Be careful The price of gold has risen a lot, and especially in the last three years. In 2018, the price for one gram of gold was around NOK 310. When the corona came in 2020, the price skyrocketed to almost NOK 600. On this December day, the price is NOK 573, according to the Goldprice online exchange. Olav Chen, head of allocation and global interest at Storebrand Kapitalforvaltning, says it may be a good idea to sell silverware and jewelery to cover bills as a result of high inflation, lower purchasing power and rising interest rates. – It may be necessary to cover it, but in relation to timing and whether gold prices will rise, the question is much more open. Olav Chen at Storebrand Kapitalforvaltning believes that people must be careful about who they sell the gold to. Photo: Lise Eide Risanger He says gold is a very special investment beyond having it as jewellery. Some claim it is insurance against high inflation, but the connection is less in modern times, Chen believes. He says gold does not give dividends like shares or interest like bonds, but has a value because the metal only exists in a limited quantity. – What do you have to watch out for if you want to sell your gold? – You have to be careful to get the right price. I think there is a big difference depending on which dealer you go to. You must be very careful that the person or persons you sell the gold to gives you the market price. SILVERWARE IN QUANTITIES: Most of what is sold is used silverware. Photo: Gry Eirin Skjelbred / news
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– People shed tears – news Vestfold and Telemark – Local news, TV and radio
