Purchasing gold jewelry is a wise investment that provides you with beautiful pieces to wear, but these items can also be held onto for a while. When the time comes, reselling your gold jewelry and other items can help you make room for your new pieces. You can also make a profit by selling jewelry that you just don’t wear anymore. The process isn’t as straightforward as you might hope, but we have some tips on selling gold jewelry.
Educate Yourself on What Karat Gold Jewelry You Have
Most jewelry makers will combine gold with another metal like silver or nickel in order to make it more durable to wear. In its truest form, gold is actually very soft. The ratio that exists of gold to alloy is called a karat. Gold jewelry will be stamped with its karat weight, and this will determine what the value is. The higher the karat number, the more valuable your item is. If you know what you have in your possession, you can ensure that you’re being offered what your item is worth.
Selling as Scrap or as a Finished Piece of Jewelry
If you have a low-quality piece of gold jewelry, you can often make more money from a resale if you’re selling it for scrap. If you have an antique item or something with a high gold content, then you’ll make more money selling it as a wearable piece. Some of the factors that a jeweler will take into account when appraising your gold will include:
-The condition of the gold
-The overall weight of the piece
-Any other gems or jewels that are part of the piece
Take Into Consideration the Market Value
A lot of people assume that they can resell their gold jewelry for the amount that they paid for it. In fact, the price you get will depend on what the current gold market looks like. Especially if a piece of jewelry is very old, it’s unlikely you’re going to be able to resell your item at a high price point. Be realistic with the offer that you’re going to get, and be patient. You may want to try again in a year or two when the prices being offered are higher.
Let Go of Personal Attachment
A lot of people think an item is worth more than it is because it has sentimental value for them. In reality, a jeweler isn’t usually interested in the story that comes with an item. They simply want to know what quality of gold they’re being shown, and the process will move forward from there.
Clean Your Jewelry
Before you take your jewelry to be appraised, give it a quick cleaning. This won’t change the karat weight of the gold that you’re trying to sell, but it will make an item look more valuable. You may be able to pique someone’s interest a bit more when your jewelry sparkles, and it looks like it has been taken care of over the years.
You might not know what you have until you have it assessed by a reputable jeweler. Make sure that you’re working with someone that you can trust to give you the price point that your items deserve, and then you can make an educated decision regarding whether or not you’re ready to sell. Contact COMPANY if you would like more information regarding selling your gold jewelry.