What You Need to Know Before Selling Gold

What You Need to Know Before Selling Gold

Selling unwanted gold products can be a quick way to make some extra cash; however, getting the best deal for your gig isn’t easy.  There are plenty of authority cash-for-gold companies with dependable gold price calculator, you can pick from, but these may not provide you with the best price. Selling gold to a high street jeweler or through an online trading website, like, eBay may require more time, but it increases your chances of getting the best deal.

Before you set out to sell gold London, follow these tips to make sure what you get back in cash is worth parting with jewelry that often represents cherished memories.

Don’t act on impulse

Carefully evaluate every piece of gold that you are looking forward to selling. Most pieces of gold jewelry hold some degree of emotional value for the seller. Ensure that emotional value does not offset the price that you will get. Ideal pieces of jewelry to consider are earrings with a missing pair, broken items, or outdated items with no emotional attachment.

Get an appraisal

Have intricate or antique jewelry appraised before selling it to a buyer that buys by weight. Antique or designer or jewelry could be worth more to sell as a treasured piece than for its gold metal price. Learn more online about sell gold bars to the right buyers.

Know what you have

Gold jewelry is hardly made from pure gold. Most of the jewelry in the United States is 10-, 14- or 18-karat gold that is comprised of gold and other alloys. When selling your jewelry, you will only get paid for the parts that are pure gold. However, that is not the case with gold bars, and they are purely manufactured from gold metal. Make sure your buyer makes the distinction.

Find a reputable purchaser

Make sure that the business has a license to purchase gold jewelry in your state. To ensure a company is reputable, ask if they are a member of a jewelry trade association, such as Jewelers of America, that needs high ethical standards of its members. Check with the Better Business Bureau. See if the company has any customer complaints having to do with buying or selling gold jewelry.

Look around

Get bids from different companies before you settle on a purchase. The offers you get might vary significantly depending on where you sell it.

Protect yourself  

Before shipping your jewelry to – or leaving your jewelry with – a possible buyer, document and photograph the pieces. Check the company’s refund policy in the event of a loss. In case the value is significant, make sure to get an appraisal first!

Get realistic

For the majority of people, selling gold jewelry will not make you rich. It might, though, put some extra cash in your pocket. Keep in mind that you will only be getting paid for the amount of gold in your jewelry, minus fees the company has to charge for refining.

Know the right timings

According to the rules of supply and demand, if more people want to invest in a product or service, its prices will increase. When the market is looking rocky gold tends to be in more demand, as it’s seen as a safer bet than other types of investment, such as shares and stocks. It’s therefore worth considering the state of the market when selling gold. However, as with any kind of investment, it’s very challenging to predict the future rises or falls in value accurately.

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