RSSAll Entries Tagged With: "real gold"

Selling Gold Jewelry

Selling Gold Jewelry

sell gold jewelryYour dwindling bank account may have you thinking about selling gold jewelry. The high value of gold tempts many people to sell scrap gold. That old ring in the jewelry box starts looking like a million bucks. You can rest assured that the old ring in your jewelry box is not worth a million bucks. So don’t assume you’ll get rich by selling scrap gold.

You have to decide if you want to sell your gold jewelry as jewelry or scrap gold. Selling jewelry for its weight in gold probably won’t get you a lot of money. Consider the price you paid for the piece. A $500 ring might bring in $100 or less as scrap gold.

This is because the ring will be valued based only on its gold content. The craftsmanship or antique value of the ring is unimportant. The ring could have a diamond in it, but it doesn’t matter.

When you realize the small amount of money you’ll get, you might decide selling your gold item is not a good idea. If you ring has a high resale value as a piece of jewelry, sell it that way. It’s possible that you can get more by selling the ring than by selling it for scrap gold. This is certainly true if the ring is an antique.

You should also keep in mind that some jewelry has absolutely no resale value. Class rings, plain wedding bands and rings that are in bad shape are difficult to sell. Those items are probably best used for a scrap gold sale.

You’ll probably want to get your jewelry appraised first. Search online and in your local phone books for appraisers. Most of them charge a fee for their services, so be prepared to part with some money. 

Find an appraiser you can afford and make an appointment. When you go to the appointment, make sure to take all the gold you want to sell.

The following items can be sold if they are made from real gold:

– Bracelets
– Rings
– Earrings
– Necklaces
– Cufflinks
– Charms
– Miscellaneous Knickknacks

If you don’t want to visit an appraiser, ask a jeweler for help. They can weigh your gold and give you a value based on its weight. However, that’s not the actual amount you’ll get for scraping the gold item.

Whoever buys your gold will take at least 10 percent or more off its true value. This is so they can resell the piece and make a profit.

When you’re selling gold jewelry, a collector is the only person who might pay the actual value of your jewelry. However, you’d have to have a rare or valuable piece to attract a collector’s attention. You should try to find a local buyer before looking outside of your city.

If you can’t find a local buyer, carefully research nonlocal buyers before doing business with them. There are people who will scam you out of your gold. Taking time to perform research will pay off in the end.

How to Sell Gold Jewelry – Just the Facts

How to Sell Gold Jewelry

sell gold jewelryLearning how to sell gold jewelry is easy. You will have to do some research. Nothing so hard though that you won’t be able to do it. You will do things like make a few phone calls, visit some websites, and talk to people and a few other steps. Here are some questions you might have and the answers.

1. What can I sell? You can sell any type of gold jewelry. Watches, rings, bracelets, and earrings are fine. Any type of gold jewelry is acceptable. Just make sure it’s real gold and not gold-plated. You can even sell damaged jewelry as scrap gold.

2. How much money will I make? The answer to this depends on a lot of things. First of all, the value of your jewelry determines its worth. An old plain wedding ring won’t bring a large price. You’d probably be better off selling it for scrap metal. An antique wedding ring with intricate designs would bring a larger price.

The monetary value is judged differently when you’re selling gold jewelry as scrap metal. A valuable piece will bring in more money than a piece sold for scrap. The buyer will base the amount they offer you on the weight of the gold. When it’s being sold as scrap gold, the condition or antiquity of the piece is irrelevant.

3. How do I know I’m getting a good deal? You can never be 100 percent sure. You can get an appraiser to appraise your items to see what they’re worth. It would also be a good idea to find out the current price of gold. Then you’d have an idea about what’s a good offer.

4. Where do I sell my gold jewelry? There are a number of places you can try. If your jewelry is valuable, you should try a collector first. A collector is more likely to give you an amount close to what your item is actually worth. This is because most collectors care more about getting the piece than getting a deal.

A pawn shop will also buy your gold jewelry. However, you should remember the pawn shop will try to get your items at a discount. They have to turn around and sell it for a profit. If they pay you top dollar for it, they might not be able to get their money back. 

Pawn shops are usually good if you need quick money. Perhaps you don’t want to wait to find a collector. If that’s the case, a pawn shop will buy your jewelry if you’re anxious to sell your gold in a hurry.

There are also companies that buy gold jewelry as scrap metal. They pay based on the weight of the gold. In this situation, the uniqueness of your jewelry is totally unimportant. All the scrapper wants is the gold so they can melt it down.

Learn more about how to sell gold jewelry online. Try to learn all you can before you actually sell anything. You will know how to negotiate better if you know what to expect.