Saturday, 17 Nov 2018

Five Awesome Tips for Gold Sellers

With prices of gold hitting records almost every day and with uncertainty setting in the financial markets, gold buyers want to pay top dollar for any piece of jewellery, bars, or coins. But, you may get less than your item’s full value if you are not careful. That is why you must do your homework and consider the following expert tips:

Shop Around and Compare

Regardless of where or how you prefer to sell your gold, begin locally. Visit a reputable local jeweller or pawn shop in melbourne to ask your item’s estimate. This way, you can at least have the basic price before you solicit other offers. Take your gold items to three or four stores and compare.

Choose the Right Buyer

Make sure you don’t do business with rogue gold buyers. These are buyers that tend to pop up instantly to give you an offer, promise high prices, and establish a temporary shop. But once they buy the city’s gold, they will instantly disappear, usually leaving sellers underpaid. Make sure you learn more about the business before you sell your gold to them. Ask a gold buyer to show their credentials. Reputable gold buyers should be licensed by their state to do their business.

Separate your Items by Karats

Gold parties exist where you meet with friends and neighbors to socialize and sell your gold. Although this kind of parties might be convenient to get some cash, they are unlikely to give you the best deal. This is because jewellery pieces might be weight together no matter their karat value and gold sellers are paid based on the lowest karat value. Make sure you separate your items ahead of time by karat and get paid more for items with higher karats.

Read the Fine Print

Even if you choose a reputable gold buyer, make sure you read the fine print to know what you are getting. For instance, make sure you check the buyer’s policy on reimbursement in case they lose your gold. A lot of buyers provide just limited liability.

Pay Attention to the Scale

Keep an eye on how your gold is being weighed. Gold is valued by jewellers by the Troy instead of the ordinary ounce. Although a number of buyers pay based on the gram, others make use of pennyweight which is equivalent to 1.555 grams. Ensure your gold is not being weighed by pennyweight and paid by grams because this would let the gold buyer get more gold for less money.

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