A Complete Guide on Selling Gold Jewelry

The recent upswing in gold prices has prompted many for selling gold jewelry. The price is at its best in the last 30 years. So now is the perfect time to sell your damaged, broken or unwanted gold jewelry and get some good profit.

There are several options to sell the scrap, unwanted gold. But before selling gold jewelry, you should have a thorough idea about gold price estimation. Generally 24karat gold is the purest form and 100 percent gold. Similarly 18karat gold is 75%, 14k is 58% gold and so on.  However old scrapped gold jewelry mightn’t fetch you the maximum value. But if you are selling gold bars or coins, there is a good chance of getting the maximum value.

Gold refineries are one of the best options for selling gold jewelry. As no middle man is involved, you can maximize your profit. Many online buyers provide free manual kits through which you can send your scrap gold for estimation. And due to low overheads, the online retailers much offer better price as compared to the local jewelry stores or pawn shops.

Here are some points you need to consider while selling gold jewelry. The gold karat type, its weight, the price of gold in the market, refinery or assessing fee if any; all these factors you need to consider at the time of trading your gold jewelry. It’s also recommended to check the buyer’s profit margin. If the profit margin is within 15% of your profit margin, then it’s a genuine deal. But if the buyer wants more than 40% of the amount, then you got to be careful as you might get ripped off your profit amount.

Due to competitive pricing, many online gold buyers don’t even hesitate to offer more than the general market offering. The lower overhead costs also add up for its higher payout. Hence, it’s a good option for selling gold jewelry where you can get good profit even without leaving your home. And the best thing, by selling jewelry online, you are eliminating the middleman who otherwise would have taken a share of your profits.

The Basics on How to Sell Gold

Knowing the basics of how to sell gold is the key factor to get the maximum value of your gold items. If you have old-designed jewelry collection, then reputed jewelry stores are a good option to sell them. They offer good value against the old jewelry. However, for broken jewelry, you won’t get good value of your items here.

Once you find how to sell gold, the rest is like walk in the air. However, there is a difference of selling gold to your local jeweler store and online retailer. While the local jeweler gives more consideration on the appearance of gold jewelry, the online retailer will accept the scrap gold items in any condition.  This is because unlike the local jewelry shop, the online retailer generally takes the scrap gold and melts them to its purest form. The price is also decided based on the purity of gold. While 24karat gold fetches the maximum of its value, 18k and 14k also gets good resale value. Not only jewelry, most online retailers also accept gold coins and other gold items.

Cash for gold brings another unique way on how to sell gold that too from the comfort of your home. All you need to do is to fill up and submit an online form. You will receive a manual kit shortly. Put your scrap gold items inside the kit and post them to the concerned authority. They will estimate your gold items’ value based on the purity of gold and then send you the estimated price. Considering the maximum value they offer, cash for gold is the best option to sell scrap gold items today.

Checking out how to sell gold item is pretty easy. You can do some research, go through Internet or ask friends and acquaintances. But the real tactic lies in being a little patient while choosing the option for selling. Perseverance is what will lead to the best deal. But remember, gold price is subjected to fluctuation. So it’s better to go ahead with the deal when you get more than your estimated return. Waiting for more might lead you to a less profitable deal.

Cash for Gold- Get the Most Out of Your Old Jewelry!

Wondering what to do with your old jewelry? Well, cash for gold brings a unique way to get rid of old jewelry and get some easy cash without any hassle. With gold rates steadily increasing, there can’t be a better time to get the best deal for your old scrap gold items.

However, you need to be an informed consumer while opting for cash for gold. Else you might end up getting duped. Often people in financial crisis are in a hurry for urgent cash and don’t wait to double check while selling their old jewelry. But a little informative and patience can get them the best deal for their gold value. Here are some few tips discussed as follows:

Know the varieties of gold:

Before selling, you need to know what type of gold your jewelry belongs to. Gold can be of 10k, 14k, 18k and 24k types. Depending upon the purity of gold, the price rate varies in each of the gold type. 24k is the purest form of gold, and the hence the price also is higher as compared to other gold karats.

Search for a reputed gold buyer:

A reliable gold buyer can be the best option to sell gold jewelry. Unlike some “middle man” who buys your gold in low process and then sells them at higher price, reputed cash for gold buyer offers you the accurate price of your gold jewelry. Many refiners even gives you a clear details about what they are doing to do with your gold like reusing them for new jewelry or selling them to dental laboratories etc.

Don’t wait for long:

Although it’s advisable to double check before investing in cash for gold, but too much waiting for the best bargain can lead you towards a less profitable deal. Once you find a genuine buyer who offers you more than what you had estimated, it makes sense to go ahead with the deal. The gold price is at its best now, so make the best out of it.

Cash for gold is no doubt the best scheme to reuse outdated gold jewelry. But do you know by reusing your gold jewelry, you are in a way contributing towards ecological harmony? That’s right; as reprocessing of old jewelry involves less harmful metals abstracts, it’s in a way good for our environment.