Gold Sovereign Ring
This was an item that I already owned, a relic from my teenage years growing up in the 1980's...honestly they were fashionable then!. The ring itself was a present for my 16th birthday and as such technically didn't actually cost me anything, now the key to this item was the fact that the actual ring itself was broken.. the band had snapped and as such had been relegated to the back of a drawer as it was no longer wearable (not to mention, not quite the image I have now).
So when I stumbled across my old gold sovereign ring I decided that I would drop it onto Ebay and see what I could get for it, now I was faced with two choices..list it as it was or get it repaired. Ironically I went with a third choice, I did a quick search on Ebay for gold sovereign rings to see what they were selling for and I noticed that there was also a big market for the gold sovereigns on their own which gave me an idea. I split the gold sovereign from the ring, which was quite easy as its simply a means of folding back the gold shoulders to release the gold sovereign. I then cleaned up the gold sovereign itself by rubbing it with a cloth and some soap and water, nothing to technical there then.
I then listed on ebay with the following:
Title: 1982 Gold Sovereign.
The gold sovereign was listed for 7 days, with the auction starting at 8.14pm
Seven days later the auction ended, the final selling price was....£84.58. So taking off my total costs for selling it, which came to £4.86 (listing fee and final selling fees, no paypal fees as was paid by cheque, no original item cost as it was a gift), my total profit was: £79.72.
Not bad if I say so myself, needless to say that I am always on the look out for these rings (full sovereign rings and half sovereign rings) whenever I am at car boots, passing second hand jewellers/shops and reading the small ads in the papers.
Current Ebay marketplace (at time of writing) shows:
Total lisings for Gold Sovereign Ring = 136 entries with prices ranging from £270 to £60 (removing plated and newly listed items).
Total lisings for Gold Sovereign = 863 entries with prices ranging from £2500 to £48 (same limits apply).