There are many options for selling your gold. To avoid being taken advantage of, you have to do a little research.
Learn About the Gold Jewelry You Have
It’s hard to sell gold jewelry and get the proper value unless you know what you have.
Do you have solid gold jewelry or is it plated? Are there gemstones and what are they? What is the karat weight of the gold that you have?
All of these questions will need to be answered before a jeweler can provide you with an offer.
Unfortunately, there are some jewelers out there that will not be upfront about what you have. However, the more educated you are, the more money you can get.
Take a magnifying glass and look along the jewelry for any markings. You may be able to find out if it’s plated or what the karat weight is.
10k, 14k, 18k, and 24k are the most common types of gold. The higher the number, the more expensive it will be.
Does Your Gold Jewelry Have Any Stones?
As you can imagine, there’s a large value difference between a diamond and cubic zirconia, for example. If you have the latter, it’s going to fetch you considerably less money.
Use a magnifying glass and look for all the marks you can.
Take the stone into an actual jewelry store and ask them to identify the stone for you. To ensure they are being truthful with you, take it into more than one store.
If two reputable jewelers tell you the same thing, then it’s probably realistic to believe they are telling the truth.
Take the Gold Jewelry into the Right Place
Pawn stores and jewelry stores will buy jewelry.
If you have anything of value, such as anything with diamonds or anything with history to it, taking the gold jewelry into a jewelry store will provide you with a higher value.
If you’re looking for a short-term loan and don’t want to get rid of your jewelry, then a pawn store is your best option.
Ask the Right Questions
Regardless of where you take your gold jewelry, ask the right questions.
If the jewelers tell you that they are only giving you a certain value, ask why. They need to tell you what they are identifying the jewelry as in order to provide you with a quote.
If they aren’t able to tell you carat weight of the diamonds, the weight of the gold or anything else, they are likely giving you a lower value than what you are entitled to.
Don’t assume that the first jewelry store is providing you with the best deal.
Take your jewelry to a few different places and collect offers. You can’t sell your gold jewelry without trying to get the highest value possible.
Take the time to go to a few jewelry stores and get quotes. Once you learn more about the piece, you can ensure you are getting the right value for it.