If you are considering selling your gold and other jewelry, then a few initial questions arise: Is selling your gold jewelry a good idea? When is the best time to sell gold jewelry? And where to sell gold jewelry? Philosophy of basic economic success states to purchase while prices are down and sell them while prices are elevated. Do not try or speculate or guess the gold market as this will only cause confusion and problems. When the prices are high that means it is moment to sell them. Therefore, after deciding to sell, you must decided where will you want to sell them so that you get the best price for your gold jewelry, platinum, watches, etc.
You might think of a national mail-in company, because they are the ones that advertise most. However, they are not an excellent first option, as doing business with them poses a few problems to you, as the seller:
- Your gold jewelry might be lost in transit through the mail, and you have little to no guarantee in that case.
- You do not see who is testing your jewelry or how it is being tested.
- These companies pay huge amounts of money for marketing and overhead, to allow them to be able to low ball you in their offer to buy your gold and jewelry. They can particularly do this, as they already possess your jewelry at that point.
- Lastly, it might take several weeks and occasionally months to obtain the money or at least get your gold, jewelry, or diamonds back in your possession. Because of the combination of these factors, you might be better off considering other options.
Your second option available for selling gold and jewelry is to sell them to a pawn shop. Often pawn shops are not quality places and they do not provide the best prices. People generally sell their gold and jewelry to pawn shops while they desperately need money. Next alternative may be a jeweler. They definitely know all the things about the jewelry but they are probably not the perfect people to take gold bars, coins, etc. Jewelers would most likely specialize in diamond rings, engagement rings, pendants, etc. and even then, you are at the mercy of their appraisal system, since they will want to turn around and sell your gold jewelry for a profit.
You might think to sell your gold online like Cash 4 Gold services, but the problem is no one can find out which site is genuine. It dealing with online companies involves several risks.
Your final and perhaps best alternative is a local jewelry buyer. These people specialize in the business of gold jewelry. A good quality gold buyer utilizes electronic testing so that you do not bear any doubt that they have altered or scratched your jewelry. A good jewelry buyer is very flexible and easy to work with, as he or she fits in any timetable. Also jewelry buyers test your gold jewelry and other precious metals right in front of you, in a private and confidential consultation. In these appointments, you are allowed to interact with the jewelry/gold buyer and ask any questions and get the response instantly. Even better, at least for you as the gold and jewelry seller, payment is received immediately, before you even walk out of the building.