Tips for Selling your Gold Jewelry : How to sell your Gold Jewelry at the highest price
People buy jewelry not just for the pleasure of owning but also as an investment. Last year, the price of gold increased by 20%, with per ounce priced as much as $1,900. With the price soaring up, your gold jewelry is one of your greatest assets. Some gold experts have given several tips on how to sell your gold jewelry at the best price. Here are some helpful tips for you to sell your gold jewelry at a good price.
People buy jewelry not just for the pleasure of owning but also as an investment. Last year, the price of gold increased by 20%, with per ounce priced as much as $1,900. With the price soaring up, your gold jewelry is one of your greatest assets. Some gold experts have given several tips on how to sell your gold jewelry at the best price. Here are some helpful tips for you to sell your gold jewelry at a good price.
1. Have a good knowledge of the weight and karats of your gold jewelry.
There are 31.1 grams of gold per Troy ounce. Determine the karats of your gold jewelry. The weight of 1/24 of pure gold is equivalent to one karat.
2. Find the real value of your jewelry by visiting a local jewelry store or using an online source. Your purpose is to determine the latest market value of gold before the sales. A reliable jeweler outlet can tell you the karat and weight of your gold to determine a fair price.
3. Visit several gold buyers and jewelry stores which are registered with the BBB as reputable. Take your time looking for price quotes. It appears that city shops do not offer as high as the price quoted by suburban stores. Gold price fluctuates with the market so if the market price is low, you may have to wait until it goes up. You don’t have to sell at the first offer, wait for good bids.
4. Just because a jewelry store has an expensive façade and luxurious surrounding does not mean that they will offer you the highest price. For all you know, other less elaborate facilities can give you a higher bid. If your item is not assessed as solid gold, a jewelry store would not buy it. Your best option is a pawnshop but make sure to ask for a good price.
5. If you want to get a high price; then you will have to haggle regarding your price. Knowing the value of your gold piece, you will feel confident in convincing buyer that it is worth more than its asking price. Don’t feel embarrass to insist on the price you expect with the knowledge that your article is a good buy.
6. The law requires gold buyers to ask sellers for government-issued identification. The purpose is to protect the consumers by helping police discover stolen property and prevent money laundering. So have your ID with you all the time.
Gold is gold and you can sell your gold jewelry at the highest price by following these tips. Also check