How Much is My 24K Gold Neck Tie Clip Worth? - Expert Appraisal

Question
I have a 24Kt neck tie clip and I want to sell it but I don't want to get ripped off either.  I'm afraid that may happen if I do not have an idea of how much it could be worth from someone who is honest. What do you think is a good price for it?  
     Thank you so much,
        Bekah

Answer
Hello Bekah,
    Rarely in manufacturered jewelry does anyone see pure 24k items due to the softness of the pure gold. In order to maintain stability and durability there must be some alloy mixed into the metal of choice for this purpose. So the 24k item usually will assay out to be 23 1/2 ct. With that said it would be your best avenue to take the item to a good jeweler, one who is affiliated with an organization like IJO, RJO or AGS. These type stores are high on integrity....Next have them test the item for its actual purity and get its weight in pennyweights. (there are 20 pennyweights per the ounce) If it is in fact the 23k multiply the daily spot price of gold x .022.     If 22k-.020    If 18k-.017      If 14k-.013....           This is a fair and reasonable price for your item based on its weight and purity. If you can negotiate more than that...great!     Good luck.

Steve Kretser