How Do I Sell My Old Gold Jewellery?

Friday, 14 August 2015, 2:34 pm
Article: Goldsmart

How Do I Sell My Old Gold Jewellery?  

Why Should I Pick My Gold Buyer Carefully?

It isn't difficult to find a place to sell your old gold jewellery, but if your only search tool is finding the best prices for gold selling, you might need to expand your methods a bit. Gold selling is much more than numbers! When you are a "non-professional" seller of gold, such as someone that's simply looking to sell some old gold jewellery, the trustworthiness and customer service options of your buying agent or company are very important. If you visit a shopping mall and sell a necklace that weighs 20 grams, but later find out that you were paid significantly less than market price, there's a good chance you'll return to the mall to find they've closed up shop. Any person is only a 2nd Hand Dealer Certificate away from being a "gold buyer," which is why you're much better off working with an established business rather than a kiosk with loud advertising. Consider these questions when picking your gold buyer in New Zealand:

How long has the company been in the business of gold buying?

Are there multiple ways - email, phone, a personal visit - to contact the gold buying company if you have questions or concerns?

Are there positive online reviews available for the company's business practices?

Are they friendly and professional in person, or high-pressure and impatient?

How Much Is My Gold Jewellery Worth?

If you're sifting through your jewellery box and setting aside unwanted or broken jewellery, you may wonder which pieces are worth the most. Generally speaking, it doesn't hurt to bring in (or mail in) all of your gold to check it for weight and value - this will allow you to better select the pieces you'd like to sell. There are a few well-established rules in the gold-buying industry that will help you get an idea of what your prospects look like:

The higher the carat and weight of a gold item, the higher the price. A 14 carat necklace that weighs 20 grams will be worth more than a 10 carat bracelet that weighs 10 grams.

Generally speaking, gold buyers do not buy items that are gold filled, gold plated, electroplated. These items will usually be marked with a small GF, GP, or EP beside the carat mark.

If your gold item contains stones, they will be removed to obtain the actual gold weight of the setting. (A trustworthy buyer will offer to return them to you.)

Condition doesn't factor into your gold value; scratches, breaks, scuff marks and so on don't affect gold weight, which is the true value indicator.

Is Gold Jewellery Worth More Than Gold Coins?

Essentially, all gold value comes down to weight and purity. Gold coins, such as gold sovereigns, tend to be a bit easier when it comes to identifying value - they're a uniform weight and purity, so a price quote might come a tiny bit more quickly, but ultimately weight and purity rule the day. Rarity and scarcity probably won't affect the price of your gold coins - they are taken in at "melt value" more often than not, which means strictly by the value they'd offer if they were melted down. If you aren't sure how much your gold coin is worth, either visit a gold buying business or call and ask your gold buyer of choice. Have your coin's specifications on hand (type, mint year, and so on) if you'd like specific answers.

Should I Sell My Old Jewellery?

The choice to sell any item - a car, old clothes, a house - is a strictly personal one. Many people in New Zealand, including mums and dads, are selling broken or unwanted jewellery for the cash they need right now. If a broken bracelet or necklace without much sentimental value can pay off an important bill, it's a smart financial move to make that happen. Before bringing your item into a gold buyer or making use of a gold selling by mail service, ask yourself these questions:

Will I ever wear this piece again? (If you're "going to get it fixed," consider how long it's been broken already.)

When was the last time I wore this piece? (If it was years ago, perhaps you'd like to refresh your jewellery collection.)

How much will this money improve my life? (Factor in late fees and interest charges on overdue bills.)

Will I be treated with respect at my gold buying establishment? (This is where review-reading comes in handy!)

More often than not, you'll find that you aren't as attached to that piece of old gold jewellery as you initially imagined. In general, gold selling should be a carefully thought-out decision that doesn't make you bite your nails or worry at every step. Gold buying businesses want you to be pleased with the transaction, and a trustworthy one will never pressure you to sell if you don't seem ready to do so. Keep in mind that other pieces, such as platinum jewellery or palladium jewellery, will also have saleable value if you aren't quite ready to sell your gold pieces.

Simply follow these guidelines and do a bit of research when it comes to picking your New Zealand gold buying business to ensure the process goes smoothly. You'll be able to enjoy the experience and profit of selling divesting your unwanted gold necklaces, gold bracelets, gold rings and more for immediate cash through a trustworthy seller. Happy selling!

Anita Elliott from Gold Smart (www.goldsmart.co.nz) says, “There are many potential pitfalls when it comes to selling your precious gold jewellery – make sure you do your homework to find the best gold buyers.”

ENDS

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