Sell gold jewelry: The tricks of the trade

gold_img3In the last ten years gold has gone steadily upward in price from five hundred dollars in 2004 to eighteen hundred in 2012. It is safe to say that if you have purchased gold jewelry in the last ten years or longer then you may be able to sale your jewelry and in some cases make more then you paid for it. To sell gold jewelry affectively can be a difficult task with the price of gold rising and new gold buyers opening every day. The biggest obstacle you will need to overcome is to find. There are so many gold buyers to choose from but not all gold buyers pay the same amount. In fact most gold buyers only pay fifty percent of what your jewelry is worth to the smelter. This allows them to melt your gold and make a profit.

In the gold buying business there is a large window to make profit. Typically a gold buyer can make profit paying anywhere from fifty to eighty five percent of your jewelries value. The gold buyer must balance meeting your financial needs while remaining profitable. To find where to sell gold jewelry and get the most for it, you will need to first call around to all the gold buyers in your area. Explain to each gold buyer what type of item you have and what karat it is so that they can give you a vague quote. Remember the quote they give you and use it and the name of the gold buyer for your next call. You will find that gold buyers are very competitive with one another and will try to beat each other’s price. This will help you identify where to sell gold jewelry for the highest price.

Over the phone gold buyers tend to be quit conservative with the amount that they are willing to offer and can be very vague as far as the amount they will be able to pay you. The reason for this is that most people don’t know enough about gold to give an accurate description of what they have. When you sell gold jewelry, keep in mind that jewelry is rarely pure gold. Most jewelry is diluted with other medals such as clad, copper, and silver. Jewelry is diluted into karats to make it more durable than its pure form and not as heavy. The higher the karat and the more the item is worth. So finding the karat stamp on your item is important and will help you get a more accurate quote from a gold buyer. Almost all gold items have a karat stamp on them. Karat stamps are on parts of the jewelry that are not hidden but located where it would be hard to notice while wearing the item.

After you have determined the karat of your item and called gold buyers in your area to find where to sell gold jewelry for the highest price. You are now ready to sell jewelry for some extra cash. Try to visit more than one gold buyer and use all the information that you have gained about your item. Mention to each gold buyer who offered you the most and who seemed the most qualified to buy your jewelry. Gold buying is a very competitive business and a gold buyer will give a more aggressive quote if you mention somewhere else that you would like to sell gold jewelry to. Gold buyers look for people who sell gold jewelry and they know that if you leave to go to a competitor, it is unlikely that you will return.

Sell gold jewelry: Tricks of the Trade

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