Uncertainty in the financial market is encouraging numerous investors to hoard gold, the most cashable asset. For a large number of people, this is the best time for best place to sell unwanted jewellery that has lost its appeal.
However, selling gold is not easy. The availability of various selling options has made the task more complicated and riskier. You can easily find a buyer. However, it is your task to verify the buyer’s credibility.
Steps in Selling Gold Jewellery
Find a Buyer
There is significant variation in the prices of gold jewelries offered by different buyers. Apart from the quality of jewellery and its weight, the price also depends upon whom you are selling. Buyers in gold parties usually offer about 50 percent of the value of the gold. The gold dealer’s kiosks, located in malls or commercial premises, will give you about 60 to 70 percent of the actual market price of the jewellery. You can get a better price by selling your gold in a high street jewellery store. An online cash for gold business, working on a small margin, may offer the best price for your gold jewellery.
Check the Credentials
After selecting a buyer, verify the credentials. Avoid the temptation of selling your valuables to “pop-up” buyers. These rogue gold dealers run lucrative advertisement campaigns, luring owners of expensive gold to sell their precious belongings. In most cases, the sellers are underpaid, and in some cases, they do not receive any payment. Hence, sell your gold only to reliable buyers who have been in the trade for a long time. Moreover, a trustworthy online gold dealer has license to buy gold. To maintain their reputation, they take every effort to answer every query about their services.
Do you know the true worth of your gold jewellery? Gold dealers pay only for the gold content of a jewellery. Gold contains certain amount of base metal. The purity of the gold jewellery, determined by its carat value, is the key factor in determining the price of the item. If your gold jewellery is hallmarked, you will find the carat value stamped on the item. For assessing the purity of gold jewellery that is not hallmarked, take it to a reliable jewellery appraiser for evaluating its carat value. After assessing the carat value and weight of the jewellery, you can estimate its price.
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