Selling gold jewellery is easy if you know what to do and how to do it. Also, doing your homework and research properly, is likely to make the market come looking for you. A thorough groundwork ensures that you are able to sell your gold jewellery at an excellent price. But first, you have got to know and be certain of your market before anything else. Here are 5 things you must do before proceeding to sell your gold jewellery.
1. Check the Current Prices of Gold
While there are many factors influencing the price of gold, the most important thing that you should take note of, is the current trend and probably, the preceding trends. What this basically means is, that you need to look at how much an ounce of gold was sold for last week, compare it to a month previous and then the present. This will give you an idea of the market fluctuations and help you decide if you want to sell right away or keep until a later date when you are sure the market will be in your favor.
2. Wash, Clean and Wipe
This is essential. If the gold has not been used in a while, you should clean it with a cleaning agent, preferably one used in cleaning gold jewellery. Be sure to use the right cleaning agent though, as this differs for different types of gold. For example, pearls gilded with gold often tend to be quite sensitive to certain chemicals that can be used to clean just pure gold. So, make sure of this, as an application of the wrong chemical, might just result in the gold looking worse instead of better.
3. Send it in for an Assessment
Start with a pawnshop. The truth is a, pawnshop often lets you know how much the gold jewellery will sell for at the very lowest price. From there, you can then start raising your rates. After the pawnshop, take it to a gold jewellery appraiser. They would weigh your gold, compare it to different factors and then give you an estimate of how much it would attract in the market, or how much you should sell it for.
Most of the time, you will find that the rates stated by the appraiser and the pawnshop guy, differ. If you price your gold, between any of the prices offered by the appraiser and the pawnshop owner, you are likely to sell the gold jewellery.
4. Seek Buyers
There are many different ways in which this can be done. You can go online and list it in an auction, contact gold dealers online, this is a bit risky though - talk to friends who may be willing to buy or who have friends that will buy, and attend gold buying parties. Worst-case scenario is going to the pawnshop to sell to sell it. So, whichever you choose, just make sure the price is right and that you are not selling your gold jewellery for a very low price.
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For more information on how to sell gold visit the Postal Gold website and turn your gold into cash
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