How To Sell Gold Jewelry
Selling your gold jewelry can be easy, but selling without being ripped off is another story. Buying and selling gold can be intimidating at first, but some offers can be worthwhile once you get the hang of it.
Gold jewelry can be sold to jewelry stores, pawnshops, professional gold buyers, online platforms like Gold & Silver Buyers In Houston, and other similar precious metal buyers. But before you sell, consider the following tips to ensure you get the best deals worth disposing of your precious gold jewelry.
Be Sure Which Items To Sell
Always think about what you need to sell before you set out to do it. Gold jewelry often carries emotional and sentimental value and precious memories that you may not want to let go of easily.
However, once you’ve made up your mind, check out and evaluate each piece you want to sell. The emotional value must never outweigh the price you’re likely to get for the jewelry. People typically sell gold jewelry that’s broken, has missing pairs, or is outdated.
At times it’s best to have your gold jewelry appraised before you sell to buyers who simply weigh and pay by weight. If you’re looking to sell designer jewelry or antiques, it may be best to sell them as finished pieces than for their gold. An appraisal is the only way to get expert advice on which option fetches more. Just remember to go to a reputable appraiser.
Know What You’ve Got
Because gold jewelry is not always made from pure gold, you must know that you’ll most likely get paid only for the parts that are pure gold. Most gold jewelry will probably be 10-, 14- or 18-karats, made of gold and other metals. It’s therefore essential to know what you’ve got; otherwise, you might get ripped off.
Find The Right Buyer
Before you strike your deal, make sure you’re dealing with a reputable buyer. Ensure that their business is licensed to buy gold jewelry. If you’re in the United States, you can ask if they belong to a jewelry trade association. Most associations uphold some high ethical standards. You could further check with the Better Business Bureau to ensure you’re dealing with the right buyer. You could also check out some reviews if there are any. It will help shed some light on who you’re working with.
Before you settle for a buyer, get as many bids as possible from different companies. You’ll likely have various offers to choose from. If all the other security checks are clear, you can pick the one that works best for you.
Always protect yourself and your jewelry before leaving it with a potential buyer. One way to protect yourself is to take photos of the pieces and itemize each one. Also, check the buyer’s reimbursement policy in case of loss. If your jewelry is worth a lot, you must ensure that an appraisal accompanies it.
Know The Gold Price
Knowing the current gold trends and prices is an advantage that could come in handy when selling your gold jewelry. Of course, the listed prices may not be the actual price you’ll get, but this knowledge will be a great reference point when you’re negotiating. For information on gold trends, you could check out reliable online sites.
Have Realistic Expectations
When you get down to the negotiating table, try to be as realistic as possible. Remember that you’ll get paid only for the parts of your jewelry that are gold. Like most people, you’re therefore not going to become a millionaire from your old gold jewelry. Be mindful of the terms and conditions of the sale. Some companies will charge some fees for refining the gold in your jewelry.
Options For Selling
When you’ve done your homework, you can now go and sell your gold jewelry. Here are some options to sell to:
The best place to start is your local jewelry store. A quick and easy way is to strike a deal in person and get cash. It’s worth noting that you may not get as much from a jewelry store as you might if you sell to a gold buyer.
Some jewelers may also not have calibrated scales certified by the Weights and Measures Division, which means they may not give an accurate weight for your gold. Also, a jeweler might try to convince you to buy other pieces in their store.
For fast cash, you could go to a pawnshop. In ten minutes, you could walk out with some in your pocket. The disadvantage with a pawnshop is that they may not have the right equipment to weigh your gold. As a result, you may not get a fair price in a pawnshop.
You could sell to a gold buyer for one of the best prices. They have scales calibrated by officials, so you’ll get the correct weight for your gold jewelry. Most gold buyers are also licensed to buy gold, so if you do your checks, you’ll be alright.
Reputable Gold-buying Website
You could also sell to a reputable gold-buying website for a seamless transaction. They’ll typically pay by check or wire transfer. Once finished with your negotiations, you only have to ship your jewelry through insured agents and wait for your payment. Some sites pay within 24 hours. Remember to read reviews and do your security checks before sending your jewelry.
Selling your gold jewelry can seem intimidating, but it’s easy if you research and perform price comparisons. If you follow the suggestions discussed here, you should be alright. Good luck with your sale.