Three Ways To Insure You Get The Best Deal For Your Gold Jewelry

Posted on: 8 December 2018

Selling gold jewelry requires making sure that your investment works for you. Just like if you were selling stocks on the market, you would need to keep a close eye on the market and on the price fluctuation of your stocks so that you sell at the right time. This is similar to how you will need to sell your gold. Here are three ways to ensure that you get the best deal when selling your gold items. 

Go to at least three stores to get an idea on the item

It is always a good idea to get more than one professional opinion. Take your gold jewelry to three different stores to determine just how much each one will give you per ounce of gold. Pay attention to the carats, the exact weight, and how much money each piece fetches at each of the different stores. Use the three prices to determine just how much your gold is likely worth. 

Figure out what your best options are

Some companies will offer to purchase your gold jewelry in order to resell or melt it down. Others will offer you the option of having the gold melted down into a coin or gold bullion in order to keep as an investment. A company that has a number of options for you gold is a well-rounded business. Invest your jewelry with a company that specializes in gold jewelry and coins and has considerable knowledge of gold stock and gold bullion. Be sure to take into account the carats of the gold that you may melt and how much the bullion bar will be worth versus the price of the jewelry.

Look at the prices of similar to exact matches in jewelry

One unorthodox method of determining the overall value of your gold jewelry items is to take a look at the price of items now. It is common to see gold bands by themselves or gold bands that hold precious stones. Look for jewelry that looks exactly like yours and has the same carats, precious stones, and other intricacies. This will give you a good idea on what your jewelry is worth on the market today. If you have a standard for what your jewelry is being sold for, you will be able to better negotiate with firms that purchase gold jewelry. Bring along any adverts for jewelry that is similar to yours when you are making a gold selling decision.