What's the difference between 10K, 14K, 18K, and 24K gold?
The "K" stands for karat - a measure of how much pure gold is in a piece, out of 24 parts. The higher the karat, the more gold content and the more valuable it is by weight. Pure gold (24K) is too soft for most jewelry, so it is mixed with other metals like copper or silver to add durability. Most jewelry sold and worn in the United States is 10K or 14K.
| Karat | Gold Content | Common Use |
|---|---|---|
| 24K | 99.9% Pure Gold | Bullion, investment gold |
| 18K | 75.0% Pure Gold | Fine jewelry, luxury pieces |
| 14K | 58.3% Pure Gold | Everyday jewelry, wedding bands |
| 10K | 41.7% Pure Gold | Fashion jewelry, durable daily wear |
If you are not sure what karat your piece is, the next question covers exactly how to find out.
How do I find out what karat my gold jewelry is?
Most gold jewelry is stamped with a hallmark - a small engraved mark that tells you the karat directly. Look on the inside of a ring band, the clasp of a necklace or bracelet, or the post of an earring. These stamps are small but readable under good light.
| Stamp | What It Means |
|---|---|
| 999 or 24K | 24 karat - 99.9% pure gold |
| 750 or 18K | 18 karat - 75% pure gold |
| 585 or 14K | 14 karat - 58.3% pure gold |
| 417 or 10K | 10 karat - 41.7% pure gold |
If your piece has no visible stamp, that does not automatically mean it is not gold. Older estate pieces, heavily worn jewelry, and some imported items may have faded or non-standard markings. When you send your items to Bivvy, our appraiser will identify the metal content as part of the evaluation - no guesswork required on your end.
What is spot price and why does it change?
The spot price of gold is the current market price for one troy ounce of pure gold, traded in real time on global commodity exchanges. It is the universal benchmark that all gold buyers - from large refineries to local jewelers - use as the starting point for valuing gold.
Spot price changes throughout every trading day based on a handful of forces: supply and demand, the strength of the U.S. dollar, inflation expectations, geopolitical events, and overall investor sentiment. When economic uncertainty rises, gold tends to go up. When markets stabilize, it often comes down.
The offer you receive is tied directly to the spot price on the day your jewelry is evaluated. Bivvy prices offers against the current market - not a stale daily rate - so you are always working from an accurate, up-to-date number.
How is the value of my gold jewelry calculated?
Gold jewelry is valued using three inputs: the weight of the piece, the karat purity, and the current spot price of gold. Those three factors multiplied together determine the raw metal value - what the gold itself is actually worth as a material.
A 14K gold necklace weighing 10 grams contains 58.3% pure gold, so the actual gold content is 5.83 grams. That amount of gold is then multiplied by the current spot price per gram to arrive at the metal value. That number is what drives your offer.
A few things that do not affect the metal value calculation: the original retail price you paid, the brand or designer of the piece, and the sentimental value attached to it. Gold buyers are purchasing the material - not the history.
If your piece contains significant gemstones, those are evaluated separately. See the gemstone question below for how that works.
Why is a gold buyer's offer lower than my insurance appraisal?
Your insurance appraisal and a gold buyer's offer are measuring two completely different things - and understanding that difference is the key to having accurate expectations before you sell.
| Type of Value | What It Means | Typical Relationship |
|---|---|---|
| Insurance Replacement Value | Cost to replace with a new piece at retail, including markup, labor, and overhead | Highest number |
| Fair Market Value | What a willing buyer pays a willing seller, neither under pressure | 20-50% below insurance value |
| Melt Value | What the actual gold content is worth as a raw material at spot price | What gold buyers base offers on |
So if you have a 14K gold ring with an insurance appraisal of $2,000, a gold buyer's offer based on melt value might be $300 to $600 - not because the offer is unfair, but because those two numbers were never meant to be the same thing. The appraisal was written to protect you with your insurer. The offer reflects what the gold market actually pays for the material.
This is the most important concept to understand before selling any gold jewelry, and we would rather explain it clearly upfront than have you feel surprised after you have shipped.
Does the condition of my jewelry affect the offer?
Yes - but probably not in the way you would expect. Broken clasps, bent prongs, missing stones, tangled chains, and scuffed surfaces do not meaningfully reduce the metal value of gold jewelry. Gold is gold regardless of what shape it is in. When it is purchased for melt value, condition is largely irrelevant because the piece will be refined regardless.
What does matter is the weight and the karat. A broken 14K gold necklace is worth the same as an identical intact one, based purely on how much gold is in it.
The one exception: pieces that might otherwise carry resale or collector value above melt - a signed designer piece, a rare vintage item, or a high-quality estate ring - may be worth more intact than melted. If that is relevant to your piece, we will flag it during the appraisal.
Do not let damaged or broken jewelry sit in a drawer because you assume it is not sellable. It almost certainly is.
What types of gold jewelry does Bivvy buy?
Bivvy buys most forms of solid gold jewelry regardless of style, age, or condition. If it is made of solid gold and you no longer want it, there is a good chance we can make you an offer.
- Rings - engagement rings, wedding bands, fashion rings, estate rings
- Necklaces and chains - all lengths and styles
- Bracelets and bangles
- Earrings - studs, hoops, drops, chandeliers
- Pendants and charms
- Broken or scrap gold pieces
- Estate and inherited jewelry
- Gold watches (case and band evaluated for metal content)
- Gold-plated jewelry - a base metal core with a thin gold surface layer
- Gold-filled jewelry - similar to plated, not solid gold
- Costume jewelry
- Gold coins and bullion (not our current focus)
Not sure if your piece qualifies? Send it anyway and we will evaluate it. If it does not meet our criteria, we return it to you at no cost.
Do you buy gemstones?
Our primary focus is precious metals, but diamonds and premium gemstones in pieces you are selling are evaluated as part of the appraisal - not ignored. Significant stones, including diamonds over 0.5 carats, are assessed and factored into your offer where applicable.
Smaller accent diamonds, melee stones, and synthetic gems are generally not included in the valuation. If you choose not to sell a piece after receiving your offer, your jewelry is returned to you in full.
Gemstone valuation is a secondary consideration at Bivvy right now. If you have a piece where the stones are the primary value driver - a loose diamond, a significant sapphire, a GIA-certified stone - reach out to us directly before sending and we can advise on whether we are the right fit for that item.