Reputable place to sell silver dinnerware

upthecreek said:

I have some old sterling silver dinnerware I'd like to unload.  I've been to a few places hoping to get 70-80% of the silver value of the items.  When I ask the dealer what they offer, they say 80% but then offer 40-50% hoping I can't do math.  Should I just forget math and take what they offer?  Anyone have success with this anywhere?  

The dealer needs to make some margin when they resell the silverware. If they give you 80% of the value, there is little room for them to make a sufficient return. Did you try to negotiate something in between 80% and 50%?

How many troy ounces of actual silver weight do you have?

Dinnerware, or flatware? I have used Braunschweiger Jewelers in New Providence for decades. But they are not the “end guy,” aka the refinery, so I can’t imagine they offer anywhere near the 80 percent you seek. If it’s flatware, and you have the time and ability, grab a place setting and take it a couple of places to get weighed, then compare your offers. (Unless there are refineries that will deal directly with the public, which I don’t know.)

yahooyahoo said:

upthecreek said:

I have some old sterling silver dinnerware I'd like to unload.  I've been to a few places hoping to get 70-80% of the silver value of the items.  When I ask the dealer what they offer, they say 80% but then offer 40-50% hoping I can't do math.  Should I just forget math and take what they offer?  Anyone have success with this anywhere?  

The dealer needs to make some margin when they resell the silverware. If they give you 80% of the value, there is little room for them to make a sufficient return. Did you try to negotiate something in between 80% and 50%?

this is all understood.  I have a dish that weighs 20.32 ounces. Knowing that sterling silver is 92.5% pure means there are 18.8 ounces of silver in the dish.  So 18.8 ounces at today’s price is 18x.  I go in knowing what 60/70/80% of that number is.  I ask them what % they pay and have been told 70 and 80.  Those two buyers then offered me 50 and 40% respectively.  

I understand they need to make money.  But when they lie to me like this right off the bat- assuming I can’t do math- that’s the end of the conversation.  

If they were to say- there’s a glut in the market and I can only give you 45%- I would respect that and probably make the deal.