Gold is an investment you can wear, enjoy, and resell. Selling unwanted gold can be easy; getting the best deal may not always be easy. Equipping yourself with desired knowledge will see you getting value for your gold.
If you are trying to sell gold jewelry, below are a few tips that will help you get the most value. Take note of how to value gold jewelry, what to be careful about when selling, and the traders.
Know how many Karats the Gold jewelry has
Gold is a soft metal that makes it more ideal for jewelry combined with an alloy metal such as copper, nickel, or silver. This ratio of pure gold to alloy metal is the gold’s karat.
Karat is the measure of gold’s purity. The karat number is how many parts pure gold are there in 24 regions of the gold alloy. The price of your jewelry is valued based on the number of karats. This information gets stamped on the inside of the jewelry as a percentage or parts of thousands.
If you do not have this information, have the jewelry valued before you opt to sell it. You can visit at least three gold valuers to ensure you get the right estimate.
Know the Current Gold prices
You can use the current gold prices to estimate the price as well. Use the estimated amount multiplied by the weight of pure gold in your jewelry.
You expect to sell your gold between 60-80% of the market price at a gold dealer, depending on your negotiation skills. It is advisable not to use the value price as this will make it virtually impossible to get a buyer.
The resell value of gold jewelry is also pegged on its condition, brand, rarity, age, and market demand. Research for the market value to ensure you have a good clue.
Offer Antique pieces to auctioneers
Check if the piece is vintage or made by famous designers. This process could fetch a better price at an auction than what a gold jeweler could pay.
You can check with various auctioneers and compare the price with gold jewelers before making a decision. Get an appraisal.
Trade-in Deals with Jewellers
Gold buyers in Sydney have realized that you get better deals when you trade in your old gold. You get store credit you could use on your next purchase resulting in a better deal than a cash purchase. If it’s time to upgrade your jewelry, then this direction is cheaper.
Check Buyers Reputation
Before selling your jewelry, check the reputation of Gold buyers in Sydney to ensure you are dealing with an honest buyer. Vet their status by going through their online page and asking around.This act will save you from burning your fingers, and it can also influence your negotiating skills as it grants you information on the kind of buyer they are.
You can also check online gold buyers. Do not be afraid to haggle if you feel you are not getting a good deal. Check how many gold buyers are there in Sydney. The higher the number of buyers, the greater the amount when well negotiated.
Clean Gold jewelry before Selling
An easy way to make gold buyers in Sydney more interested in your gold is by cleaning it and restoring its shine. The process entails:
- Add 2 cups of warm water to a bowl
- Add drops of dishwashing liquid to a bowl
- Soak the gold pieces in the solution for 15 minutes
- Gently scrub the jewelry with a soft toothbrush to remove dirt
- Dry the jewelry with a soft cloth
If the gold has other components, you should instead take it to a jeweler for deep cleaning, to avoid rusting. The newer your gold looks, the higher the price it will fetch.
You can also take the opportunity to check out the price of the item separately. That is, if you were to sell the gold separately and other stones, how much will it fetch. This way, you make an informed choice of whether selling it whole will make more money or separating them.
Selling gold jewelry is a process that needs you to be patient. Take your time in researching gold buyers and knowing how many karats the gold you have contains.
This act will help you not over-price or under-price. Ask the buyer how much your gold is valued and insist on seeing the exact calculation.