Jewelry has always been known to complete any outfit. Whether it’s as simple as a gold chain necklace or as grand as a studded ring, jewelry is meant to push your entire aesthetic to the next level. However, much like everything else, jewelry gets older as time passes, even when you maintain it faithfully, or your priorities just start changing as seasons fly. So, your adoration towards certain pieces may fade away once something new shows up.
In that case, you’re probably considering selling your jewelry pieces, especially ones that contain gold. After all, gold is one of the most precious metals in the world. So, they’re bound to give you a pretty penny once you sell them anywhere. However, as tempting as it is to get money quickly, it’s not wise to jump the gun and give away your gold to the first shop that named their price.
Therefore, you need to lay out a solid plan to get the most out of your jewelry. Otherwise, what’s supposed to be a wise investment would go down the drain after deciding on a whim.
Here’s how you can go about it:
Table of Contents
1. Do Your Research
Since you’re about to give away something valuable, there’s no room for hastiness or impulsive choices. Gold jewelry doesn’t come from trees, after all, and it definitely doesn’t come cheap from jewelry stores. So, to make sure you get your money’s worth, you have to be careful.
It won’t take long for you to find advertisements posted by establishments looking to buy gold from jewelry owners like yourself. Considering how the economy has a nasty habit of fluctuating wildly, any jewelry owner who finds themselves in a tight spot for money is bound to consider parting from their jewelry as a last resort. However, this desperation is what many establishments are honing into.
With emotions clouding your judgment, you might as well just dive into it. But, the best way to start your path toward selling gold jewelry is by doing your research. After all, it’s tricky to know exactly what makes a gold buyer legitimate.
First thing’s first, know the difference between establishments. As said earlier, all of them are interested in a jewelry owner’s valuable assets. With so many options available, choosing which one would suit you all comes down to your choice.
For those interested in having a quick buck, pawnshops are highly recommended. As long as there’s no line holding up, you can walk out that door without reaching the 10-minute mark yet, cash already in have. But, because of pawnshops’ wide range of services, it’s safe to say that the price you have in mind might be a far cry from what’s offered to you.
So, if you want someone authentic and with full gear to check your piece, it’s best to head over to the local jeweler. Ensure they have the certification backing them up since this proves they know what they’re doing. But, to completely sweep through your options, look up reviews if they’re available.
2. Know Its Worth
Since the value of gold continues to fluctuate, like other commodities, it might be difficult to pinpoint when its value reaches the spot you’re looking for. However, it wouldn’t be wise to expect your gold jewelry has the same value.
So, instead of coming in blind, determine how much your gold is worth. Considering how many gold content percentages there are, you need to know which one your jewelry falls under. Although there are online websites that feature a gold price calculator, they don’t offer exact numbers, especially for gold content, other than pure 24k gold. But, on the bright side, now you have a rough estimate that should keep you from getting ripped off by any gold buyer.
3. Get Multiple Quotes
It’s a wild world out there when it comes to money. After all, people would do anything to earn more cold-hard cash using any means necessary. And, while that applies to you, this sentiment aligns perfectly with establishments interested in your pieces of jewelry. Because of how wildly the economy fluctuates, you can say that they’re the ones ‘betting’ on your piece by acting as middlemen once they buy it from you.
In other words, your expected price might be undermined once they’ve expected your jewelry. However, instead of simply accepting their offer as it is, always remember your options. Make use of what you’ve researched, and collect multiple quotes from them. Once you have enough, you might realize that some shops offer lower prices than others. So, it’s up to you whether you’d like to bargain to increase their offers or simply choose a better establishment.
Takeaway
Besides precious stones, gold is one of the most valuable materials in the world. But other than aesthetics, you can see gold jewelry as an excellent investment, considering its worth. However, selling it is no easy matter. Therefore, you need to be extremely careful doing so. Otherwise, you’re left with no gold jewelry and a few meager bills.