Shopping your old jewelry around to gold dealers can help you get a higher price. By following a few tips, you should be able to receive anywhere from 80 to 90% of the current market rate.
Shady gold dealers have been ripping off average people looking for some quick cash. Selling precious metal is not a poor choice; however, making poor decisions can be costly. If you are planning on selling some old jewelry or other items, you need to learn a little bit about the current marketplace first.
The most important rule when selling anything is to shop around and be prepared to haggle. Never take the first offer as you have some research ahead of you. You should also know the market value before you send anything off to gold dealers. Check the Internet for current trading rates so you can get a general estimate for the price per gram and per karat. While you won't be able to gauge exactly how much your pieces are worth if your pieces are not pure, you should have a pretty accurate number. Once you start shopping around you will quickly realize how much prices can fluctuate.
There are several different types of gold dealers, so it's important to know what you're dealing with. If the company buys and melts down the metal directly, the percentage of the total value you receive should be higher due to fewer middlemen. Companies that send off the metal to a refinery will offer less. Local jewelers are another great option and may be able to provide you with cash or credit at the store, and good hagglers will be able to negotiate a better price. If you choose to use an Internet mailing service, make sure that there is a return policy in case you are not satisfied with their offer. Always get receipts and signatures, especially if anything is sent off for evaluation first.
Quality doesn't matter when it comes to jewelry, which is why selling to gold dealers often reaps higher profits than if you were to use an auction house or sell to collectors. Some of the best items you can sell include anything broken or tarnished that would require significant repair or restoration to improve its value. These items will have little worth on the market, but can easily be melted down and purified by a buyer. Condition means nothing. All that matters is the weight and total karat of precious metal that can be extracted. When selling jewelry be sure that any stones are removed. These can be set into other pieces later or sold to a different buyer.
There are some items that are bad to sell, regardless of high karat content. Certain watches, heirlooms, and vintage pieces can be worth far more intact than they would for the metal alone. These items can also fluctuate on the market depending on current collector trends, so hanging on to these for several years can greatly work in your favor. There may not be a buyer nowScience Articles, but in five years you may have a very hot and coveted item.
