A Few Tips For Getting The Most When You Sell Gold Jewelry

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A Few Tips For Getting The Most When You Sell Gold Jewelry

21 May 2019
 Categories: Finance & Money, Blog

Selling jewelry is usually done for one of two reasons. Either you have no desire to keep a piece or you need cash quick. When the reason is that you need the cash, you can be tempted to go with the first offer you receive. While you may think that everyone is going to offer you the most or be very close in the amount, this is not always true. If you need money, it would be best to make sure that you receive the most possible for anything that you sell. Here are a few tips to make sure this happens.

Know the Current Price of Gold

The first thing you need to do is to find out how much gold is selling for that day. There are a number of sites that will give you this information. Be sure to use a reputable site that is not trying to buy gold, just giving the facts. While you will not get the full going price because the person you sell it to needs to make money too, you should get something close to this amount. 

Know What You Have 

It is also important for you to know what you have in gold. Look at the piece to see the amount of gold it contains. The karat mark will give you this information. Fourteen karat contains 58.5 percent gold whereas 24 karat is 100 percent gold. If you have more than one piece you are selling, be sure to separate it into different piles with regards to their gold content. This way, the buyer will not give you an average price but will pay you based on the actual gold you have.

Get More Than One Offer

It is always best to contact more than one buyer when you sell gold jewelry. You can let them know that you will be talking with others and will get back to them by the end of the day. This way, you can be sure that you will get the most possible. You should also take the pieces to a pawn shop or jewelry store to see how much they will give you.

Even though it may be an emergency and you need the money now, take a few hours to decide where to sell your jewelry. Even broken pieces or single earrings can bring you a decent amount of cash. If the buyer is not really interested in any gems in the piece, take them out and save them. You can have them reset or sell them elsewhere. Quite often, gold buyers are only interested in the gold.