Gold is a precious metal that will always be valuable. When you buy gold bars or jewellery, you know that it can save you when you find yourself in a tight spot. After all, selling gold is one of the easiest ways to get instant cash. Because of this, you must know how you make the most of your gold items.
To make sure you get only the best deal when you sell your old jewellery or gold coins in London, here are five vital points that you must consider:
1. Know the Value of Your Gold
One way to know your gold item’s value is to take it to various jewellers in your area to get it valued. They will be able to tell you how much you can get from it based on its weight and carat.
They may also look at the craftsmanship when considering the gold price, but it’s likely that they won’t tell you the actual value of your jewellery if they’re planning to buy it. You must let them know you’ll have other jewellers check the item, so they’ll know they have competition.
If you are in Hatton Garden, UK, you can check your gold price using the gold price calculator at London Gold Centre.
2. Don’t Go With the First Offer You Get
It’s easy to get tempted to sell to the first person who gives you an offer. Yet, there’s always a possibility that you’ll get better offers from other people, so don’t commit until you have shopped around and found the best price!
3. Learn the Art of Haggling
If you believe your item is more valuable than what is offered, you can try negotiating with the jeweller. There’s always a chance that you can get higher than what’s initially offered, and even if they don’t give in, you won’t lose anything!
Before you do any negotiations, make sure you know all your options. Suppose there are several competing jewellers or cash-for-gold companies in your area. In that case, you are more likely to find someone willing to raise their price for your gold, especially if you are selling several pieces of jewellery!
4. Know the Best Time to Sell
Keep in mind that the rule of supply and demand also applies to gold. In general, gold becomes more in demand and given higher value when there is uncertainty in the market as gold is regarded as safer than other investment types. Unless you are in dire need, it’s best to wait for a stable economy before you cash in your gold.
5. Have the Whole Item Valued, Not Just the Gold
If what you have is a gold encased diamond ring, make sure that your item is valued as a whole and not just specifically for the gold. Beware of those buyers who would go as far as removing the precious stone to get the metal’s value only. When this happens, you won’t be able to cash the actual value of your item!
Selling gold items is indeed an easy way to quickly earn some cash but getting the best price for your items is not as easy as you might have expected. Of course, cash-for-gold companies offer convenience, but you have to be careful to only transact with a reputable business with good reviews from their previous clients!
London Gold Centre is one of the top metal buyers in London that can buy gold coins, jewellery, and watches at the market’s highest price. Check out our price for gold per gram and calculate your item’s value using our calculator today!