the essential
Jeweler, associate manager of eight businesses in towns in the South-West, Jean Guy Djaballah is offended that heritage treasures can be melted down under the pretext that the price of gold has never been so high.
“As prices rise, more and more people are selling and buying gold.” Loyal reader of the titles of the Dépêche group, and although on vacation, Jean Guy Djaballah was quick to react.
You are the managing partner of eight “Les 3 Ors” businesses in the South West (Tarbes, Lourdes, Muret, Pamiers, Agen, Villeneuve-sur-Lot, Auch, Dax). Is this the reason that pushes you to react?
What bothers me (and many colleagues will share my position) is that gold is too often presented as an investment value.
Which is the case, right, at more than €81 per gram?
No. Except the ingots. But for the rest, with my colleagues, we are above all jewelers. We do not weigh gold: we estimate its heritage value.
Yes, but: at 81 g per gram…
And then, what will remain once negotiated in front of the counters? We will talk to you about negotiation fees, tax depending on the value, and a commission of 20% to 30%. In the end, the customer ends up with a purchase offer at €30 to €50 per gram for a piece of jewelry: the margin is enormous.
You and your colleagues also offer gold buybacks, right?
The difference lies in the fact that we are first and foremost jewelers; not vegetable sellers. We are committed to preserving heritage. National: despite presenting an identity document, we are naturally suspicious when an object seems suspicious to us. Family: old family jewelry, coins or ingot molds, even a simple bracelet, it would be a shame to part with them. Our know-how is essential, and at this stage it is important to advise these people to make new, updated jewelry: they are worn again and remain in the family. The value is completely different, right?
Yes but…
Yes but what? Influenced, people rush to the first proposals that come along. The cautious invest in bars or coins, telling themselves that this will always be better than real estate, in these times. Speculators sold without waiting for the result of the presidential election in the United States. The only good advice is this: go find jewelers, preserve your old family jewels, even if it means having them transformed. You will be winners.
