Sell or keep gold necklass?

nibs

Hi, my DD was given a huge gold necklass when she was born (12 years ago) but its so old fashioned I dont think she would ever wear it or even like it! Im now thinking of giving her the choice to sell it and save the money or would she be better to keep it as an investment, after all it cost her nothing. I looked on hatton garden metals and its value today is 654.00.
Any advice greatly appreciated.

alanq

Gold prices go up and down. They are high at present but who knows how high they will go?

Don't send via post to folks advertising "best" prices. There have been many reports of firms offering much less than even the scrap value of jewellery and then delaying returning te item sent to them for valuation.

Get a number of offers from High Street jewellers. That way you will get a more competitive offer and not have a struggle getting the necklace back. It may not be to her taste but it may have more than a scrap value.

LEJC

Whoever gave your daughter the necklace as a gift for her birth must have thought a lot of her to give an expensive piece of jewellery.
whilst it is not to your taste and you wish to dispose of it now,tastes and fashions do change and your daughter at the age of 12 is possibly not in the best position to decide if she wants the necklace or £600 in cash...IMO ask any 12 year old and they will probably go for the cash rather than an item of jewellery which may have been given to them as a birth right
as I said fashions change and so do the prices of gold and whats to say in 15 years time your daughter will appreciate the necklace for what it is....if you sell the necklace what do you plan to do with the money...with interest rates as they are you will get very little return by way of interest on £600...whereas I believe gold prices are perfoming better...
If it were me and I did not have a specific use for the money I would leave the necklace as it is...at least at the moment it is a generous gift from someone to your daughter.

nibs

LEJC wrote: »

Whoever gave your daughter the necklace as a gift for her birth must have thought a lot of her to give an expensive piece of jewellery.
whilst it is not to your taste and you wish to dispose of it now,tastes and fashions do change and your daughter at the age of 12 is possibly not in the best position to decide if she wants the necklace or £600 in cash...IMO ask any 12 year old and they will probably go for the cash rather than an item of jewellery which may have been given to them as a birth right
as I said fashions change and so do the prices of gold and whats to say in 15 years time your daughter will appreciate the necklace for what it is....if you sell the necklace what do you plan to do with the money...with interest rates as they are you will get very little return by way of interest on £600...whereas I believe gold prices are perfoming better...
If it were me and I did not have a specific use for the money I would leave the necklace as it is...at least at the moment it is a generous gift from someone to your daughter.

It was given by her very violent/volatile grandfather. However, 3 years ago whilst visiting him in italy he smashed our room and all the photos of our children and threatened to shoot us.She was 9. We spent the night baracaded in our room and flew home the following day. All because DD didnt say good morning/afternoon with 'enthusiasm'
So no, it holds no sentimental value at all.
I haven't asked her if she wants to sell it as, like you say, she would just want the money, thats why im asking for peoples thoughts.
I s'pose I could leave it for a few years and give her a choice when she's older, just that I hear gold is a good price atm hence my thoughts.

bendix

What a bizarre thread.

purch

What a bizarre thread

Bit like Eastenders on MDMA :eek:

bendix

Anyway, the necklass [sic] is not the OP's to sell and it would be irresponsible parenting to influence a 12 year old to sell it for what seem like questionable motives.

Is this a question for an IFA or a family therapist?

[Deleted User]

Hi,

sell it, as you say, it means nothing to you.

Buy her a lappy for Christmas, keep the change.

middlepuss

What would you do with the money if you sell it? And do you regard the necklace as an investment, a keepsake or is it just a reminder of bad things?

If you invest the proceeds in a cash account that could well do worse over the long term than gold - though who knows what might happen to the gold price. Cash will probably just about keep pace with inflation if you're lucky.

If you invest it in a low-charges unit trust the money should do relatively well over the long term (10 years plus) - though nobody knows for certain - and be a nice little nest egg.

theoretica

Only you know your daughter well enough to know if she will understand and be able to make a sensible decision (and not want to spend the money on things which are not an equally good investment). I don't think there is going to be a clear answer as to which would give her more money at 18- cash is fairly stable, gold may go up or down. I would suggest you show the necklace to a jeweller as it might be worth more than the gold.

Smooshh

I think i would hold onto the necklace until your daughter is of a better age to make a decision. Any gift passed down through a family is priceless after all. Both me an my sister were allowed to choose something of my grandmas. I chose a bear an my sister a porcelain tortoise. At the time i didn't feel a connection it was just choosing something! (I was young) but now I like the fact i have that bear, worth nothing but means a whole bunch.