Things to know before you sell your gold – Steps to Sell Your Gold in Safer Way

by Kumar Kr Consultant

Selling gold is absolutely a challenging task when compared to buying gold. There are many reliable jewelry stores across your city and online to buy gold, but can you rely on a single store that can buy your gold for a reasonable price?

 

This is absolutely doubtful!

 

Many people wish to buy gold as an investment and sell in the future for best price, as the price of gold is gradually rising, although it falls down in between with small differences. The ultimate benefit is, you sell for pricier than what you have bought.

 

The price of gold completely depends on the stocks or the economy.

 

People also attempt to sell their old or antique jewelry for best price. However, it is not as easy as you think; because there are many pitfalls you need to come across to sell it in a safer way.

 

Finding a best deal is imperative as an attempt to sell your gold.

Seller must beware of fraudulence, especially happening in local jewelry stores.

 

Here are some things to consider for selling gold for best price and in a safer way:

 

·         Evaluate Gold Carefully: It is your duty to evaluate the gold you have before you sell it. Remember, while selling broken items, outdated items or earrings with missing pair may not get your expected value and price.

·         Find Reputed Buyer: Most of the buyers will try to buy the best pieces for low prices. But, while approaching a reputable gold buyer who is in the market for a long period, may help you get a better price for the gold you sell. Perhaps, try to find out if the buyer is a member of a Trade Association, Jewelers of America, as they need to maintain high ethical standards being the member while buying or selling gold.

·         Get Appraisal: if you want to sell antique jewelry, then approach an appraiser to get your gold appraised before you want to sell it. This will help you know the right weight and value of your gold. An antique or designer jewelry may worth higher than a simple one.

·         Know your gold purity: This is imperative, as the value of gold will differ with the purity. The purity of gold is categorized as, 10 Karat, 14 karat, 18 karat. 22 karat and 24 karat. The price is higher for 24 karat when compared to 10 karat gold. Therefore, know the gold purity before you approach a buyer.

·         Try to shop around: Try to get the bids from many buyers or companies before you choose a buyer. This is because; the offer you get may significantly vary depending on the buyer and locality you are selling.

·         Have a Copy of your Gold Piece: It is equally important to have a proper copy of the document and photography of your gold before you ship it or give it to the potential buyer. Try to check for the reimbursement polity of the company, which is very beneficial in case of any loss.

Besides these points to consider, you must also be aware of the current price of gold and the charges inclusive like tax, reduction while selling your gold. 

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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