You’re looking to sell your gold bracelet, but you’re not sure what the best place to do so is? Let’s see where you can sell your gold jewelry, and learn how you can calculate the price you could get for your bracelet.
Selling a Bracelet to Gold Dealers
The easiest way to sell your gold bracelet is to offer it to gold dealers. These buyers purchase gold that they resell to gold refineries, which melt down the metal.
Other dealers recycle the gold they buy themselves.
The price a gold dealer will offer you for your bracelet depends on its gold content.
Generally, gold dealers do not care about the design of your jewelry or its antique value since they buy the piece for the metal only.
How Much Money Can You Get for Your Gold Bracelet?
To find out the price you can get for your gold bracelet, first you need to figure out its gold content.
That is easy if you know the karats of the piece. To calculate the percentage gold content in it, just take the karat number of the jewelry, divide it by 24, and then multiply the result by 100.
For example, if you have a 14-karat gold bracelet, its gold content will be equal to 14/24 x 100 = 58.3%.
Now that you’ve established what percentage of the piece is pure gold, you need to calculate how many grams of gold you have, because gold purchase prices are quoted per unit of weight.
So, weigh the piece, then take the gold purity percentage you’ve already calculated, and multiply it by the weight of the bracelet.Black Friday Deal: Click here to get up to 50% OFF engagement ring settings from James Allen.
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In our example, if your 14K bracelet weighs 18 grams, and 58.3% of it is gold, then the weight of the pure gold you have in the piece is calculated as follows: 18 g x 58.3% = 10.5 g pure gold.
Now, you just need to find out the price of gold per gram, and multiply the grams of pure gold in the bracelet by that price.
Market prices for gold change daily, so our recommendation is to check the quotes currently offered by at least a couple of gold dealers and compare the prices you could get.
What About the Stones in Your Bracelet?
If your bracelet has any gemstones, you might not be able to get any money for them from many gold dealers, as most care only about the metal.
That’s why it’s best to remove the stones before selling the jewelry for scrap gold. (Some buyers may offer you a price for the stones, but that varies from dealer to dealer.)
If you want to also get rid of your diamonds or other stones, you can try selling them to gemstone dealers or retail jewelers.
Can You Sell Your Gold Bracelet to a Jewelry Store?
You can ask around and see if some jewelry stores would be willing to buy your bracelet. However, keep in mind that jewelers have little use for second-hand jewelry, and such pieces sell for very low prices (unless they are rare antiques).
If a jewelry store buys your gold bracelet, it will most likely do so with the intent of recycling the gold and using it in the making of a new piece of jewelry.
So, if a retail jeweler agrees to buy your bracelet, the price you will get isn’t likely to be much different from that offered by gold dealers.
The good thing about selling to jewelry stores is that you might be able to sell your bracelet along with any stones in it all at once.
However, jewelry stores vary significantly in terms of their policies regarding the purchase of old jewelry, so you will have to ask around and collect offers.
Jewelry Auctions: An Alternative Way to Sell a Gold Bracelet?
You can always try to sell your bracelet at an auction. In particular, online auctions are easy to set up these days.
If someone likes the piece and is willing to pay for it more than the price of the metal (because of the nice design, for example), you might be able to get a better deal than you would from a gold jeweler.
In general, auctions are the best option if the bracelet you’re selling is unique in some way, e.g. if it has some antique value. Buyers of such pieces are more likely to pay prices that are much higher than the value of the gold in the bracelet.