Selling jewellery can be a profitable endeavour. Instead of leaving gold to collect dust in the bottom of jewellery cabinets, you can get paid for your unwanted items. Selling gold doesn’t have to be stressful either. As long as you conduct research on current gold prices and work with only trustworthy gold buyers, you can rest assured you are getting fair market value on your jewellery pieces.
Benefits of Selling Jewellery
The price of gold is always very good. The current market trend shows that the value of gold will continue to steadily rise. Since jewellery buying is a competitive business, you can usually get a respectable price on your gold pieces. When you choose to sell gold jewellery, you can earn extra income quickly. Selling gold is perfect to help save up for holidays, weddings, or other special events. Selling gold jewellery is also useful if you’re attempting to raise funds for a down payment for a big-ticket item like an automobile. Many individuals also choose to sell gold as a way to add money to their savings and retirement accounts.
Selecting Jewellery Items to Sell
The condition of your unwanted gold jewellery does not impact your ability to sell. Although you may not want jewellery that is tangled, broken, or mismatched, gold buyers will be interested. The reason is that gold jewellery pieces in poor shape can always be melted down to create new pieces. To decide what gold items to sell, evaluate each item individually. If you have not worn the jewellery for an extended period of time and you don’t have an emotional attachment to it, there’s no reason not to sell the piece. Examples of gold jewellery many individuals choose to sell include:
- Class rings
- Gold chains
- Gold engagement or wedding rings
- Gold earrings
Keep in mind you can sell gold that isn’t jewellery. Examples include gold coins, bullion bars, gold rounds, and even gold fillings. It is very common for those looking to sell gold to be unsure of whether the jewellery is made from real gold or not. For instance, you may have inherited a gold ring from a relative who claims the ring is 18 karat gold. Until you get the ring appraised there is no guarantee of its value. When you’re unsure about the authenticity of any of your jewellery pieces, it is a good idea to secure an appraisal on the questionable items.
Selling Gold 101
Once you decide to sell your gold, research the current market prices. This helps you know what types of offers to expect on your gold jewellery. To properly research values, you should measure the gold with a kitchen or postal scale. The purity will also impact value. As an example, jewellery could be made up of 12 karat gold, which is 50 percent pure gold or 18 karat gold, which is 75 percent pure. The condition and designer of the gold jewellery could also cause price fluctuations. Most gold buyers will advise clients whether gold jewellery is better sold as-is or should be sold for scrap.
Selecting Gold Buyers
Learn more about gold buyers by looking through online reviews. See what other gold sellers are saying about the buyer and whether they had a positive experience to report. Beware of businesses that have a reputation for not paying a fair rate for jewellery and other gold items. Request quotes from the business before selling the gold and find out any terms of sale. If you’re unsure about the price offered for the gold, check with other vendors to compare. Local and online gold buyers will accept jewellery in exchange for money. If you do choose to sell gold jewellery through an online vendor, it is important to insure mailed items and use tracking to confirm delivery.
Selling unwanted gold is the perfect way to make money on items that are simply taking up space in your home. Choose reputable buyers who can offer you fair pricing and you will see a solid return on your gold pieces.