Gold jewelry has always been valuable, but that doesn't mean it will automatically exceed the price of the gold material or be close to the price you'd pay to buy gold jewelry retail. The fact is, gold jewelry is often marked up well above the true value of the precious metal, and would require significant appreciation to meet or cover the retail premium. Very old pieces of collectible or rare jewelry can fetch more than spot gold prices, although the price of gold jewelry is usually based on the amount of gold alone when sold in the antique jewelry market.
Why Sell Gold Jewellery
Selling unwanted, old, worn or unfashionable gold is always a good move. What good is that possession if it's gathering dust in the back of a cabinet drawer? Not much. Instead, by liquidating it for the value of the precious metal contained, the cash obtained can be used for all kinds of wants and needs now or for the future. This could include help with a home down payment, school tuition or books, car repairs, medical needs, a new home entertainment system, a trip, a new hobby, or the like. Selling old gold is worth a lot, and it's up to you to decide how much, as well as how that payment will be used to improve your life.
3 tips to sell gold jewelery at a good price
Watch the market before selling
Understanding gold prices in the spot market has a big impact on when to sell old gold jewelry. Precious metals that make up jewelery for sale fluctuate in price depending on the prevailing market. The actual price offered by an individual seller will be a percentage of the market spot price, including the quality/purity of gold involved, the type of metal, the total weight of gold, trade overheads, and associated refining. expenses
However, even with all these factors involved, when the gold market increases, the price of all gold, whether new or used, increases. However, when the value of gold falls, so does everything associated with it. Ideally, an individual buyer would want to sell at a time when the market is rising or the jewelry is at a much higher price than it was originally purchased.
Don't take the first price offered
Some experienced private sellers know that the first price offered for used jewelry will be the lowest possible. People should always settle for the best price, even if it means shopping around a bit. Remember, gold buyers routinely have many people selling gold, so the world won't end if one person's sales drop. However, when demand for gold is high, buyers may make a lower offer at first, but then make another offer to politely say "no" if the sale represents a large holding. Individual sellers should always try to do some professional haggling to get the best possible price for their gold jewelry.
Not all gold jewelry is the same
If you need to know where to sell gold jewelry that includes various items such as gold coins set in pendants or rings, you may want to take a look at the coins or sets first. Sometimes the collectible value of gold coins can exceed the net precious metal value for old gold in a sale. Collectables, gold bullion coins, special sets or pieces made by a special person all trigger a collection value that can sometimes be worth more with the right dealer and channel. Again, take note of what you have for sale and do your homework on it before you sell. You might be surprised that it is worth a lot more than just selling it for gold.