Gold craze seems to be doing rounds currently. Before selling your jewelry, it is important to understand and know what your gold is worth. This can be a treacherous route that requires caution to get what you deserve for the jewelry. Finding the best prices for the item, in this case being a gold jewelry, requires utmost consideration of several factors. So to say, there are two specific steps to take when undertaking this activity. The steps include:
- Knowing your options
There are numerous alternatives to selling your gold jewelry with the best prices. Some of the possible alternatives you can try out include:
- Try the jewelry stores. Jewelry stores are among the common and fast selling stores for any jewelry. People and jewelry aficionados flock such places in pursuit of several items they need. That said, this could be the best place to dispose of your gold jewelry.
- Pawn shops. Pawn shops are increasingly becoming popular for doing such businesses. Though they may not offer competitive prices, they are the most secure and reliable place to give off your gold jewelry. High-quality gold attracts better prices.
- Avoid gold buyers. As mentioned before, the gold craze is spreading like wildfire. Similarly, gold buyers get into the market preying on the unsuspecting gold sellers. Many gold companies pop up to take advantage of the rising business. Some of the companies are pure frauds and scams. They are known for unsavory practices and manipulative prices. Avoid them at all cost.
- Shop around. Getting multiple quotes before selling off your gold jewelry could be the other way of finding the best prices. Various stores could have different prices depending on their business terms.
Other crucial aspects of knowing your options include:
- Understanding what affects the price.
- Identifying what you have in your gold jewelry collection.
- Always check with the better business bureau before deciding where to sell the gold to.
- Selling to a dealer
This is the second and final step that will ascertain that you sell your gold for the best prices. Consider undertaking the following before paying a visit to the dealer.
- Organize your gold. Organizing your gold will save a lot of your time and gold dealer’s time. Time is money. Most gold dealers are known to pay more without a doubt if you present yourself organized. That said, begin by removing the imitation gold using a strong magnet. Note that anything that sticks to the magnet has fewer chances of being gold.
- Sort the gold
- Measure the weight of each gold. This can be best done using the Troy ounce.
- Get quotes from the buyers. Get at least three quotes for your organized and sorted gold. For excellent pricing, get quotes from a refinery. Unlike other brokers who sell the collected gold to other intermediaries, the refinery will most likely provide the best price in the market.
Selling off your gold jewelry at relatively competitive to best prices can be such a daunting task. This is why adequate research is an impeccable idea when faced with this challenge. However, note that you should have adequate knowledge of the age, color, and clarity of your jewelry. These are some of the common questions to answer when convincing your buyer.