Do you have some gold jewelry you'd like to sell? If so, you probably want to get the highest value possible for your gold pieces. However, if you've never sold gold before, you may not know exactly where to go or how to make sure you're getting a good deal. Fortunately, selling gold isn't complicated. With a little research and preparation, you can make sure you get full value for your jewelry pieces and walk away with as much cash as possible. Here are a few tips to keep in mind:
Go to an expert. There are lots of places where you can sell gold these days, like Rocky Mountain Gold & Silver Exchange. That doesn't mean that all buyers know what they're talking about. To get full value, you want to make sure you're talking to someone who fully understands your pieces and can give you an accurate estimate. In most instances, that person is going to be a reputable jeweler or another gold buyer who handles jewelry on a regular basis.
One of the biggest reasons to see an expert is that you'll want someone who can recognize whether the piece is worth more as a piece of jewelry or if it's worth more melted down into gold. Many gold buyers may not know that. They may price your piece strictly based on the value of the gold, without considering its resale value as a piece of jewelry. An experienced handler of gold jewelry can evaluate not only the gold, but also the stones and any other components to give you the most accurate estimate.
Do your research. Being as informed as possible will help you get full value. There are a few steps you can take to prepare yourself. First, have your jewelry analyzed to get the exact karats of the piece. Also, weigh it with a kitchen scale. Once you know the karats and the weight, you have two of the three biggest variables involved in calculating the value.
The third is the spot value of gold. This is a number that fluctuates on a daily basis. A buyer will often use this price to determine your jewelry's value. That doesn't mean they will pay you the spot price, though. Many buyers will offer you something less than spot price so they can later sell at spot price and turn a profit. However, knowing generally what spot price is will help you determine an appropriate value for your piece.
Prepare your list of questions. Finally, you'll want to understand the basis for your buyer's offer. Have a list of questions available to ask so you can negotiate the best possible price. Ask whether they're basing their price off the value of the gold or the gold plus the stones. Ask them to itemize the value for the gold and the stones separately. Experienced gold jewelry buyers should be able to do this. Also, ask what percentage of the spot price they are offering. Ask these questions to multiple buyers and then compare your answers. By shopping around, you may be able to get a better price.
For more information, visit a jeweler, pawn shop, or other gold jewelry buyer. They can help you estimate the best price for your jewelry.