Learn How to Sell Gold Jewellery with Gemstones
If you have gold jewellery lying around that you don’t use anymore, you have probably considered selling it at some point. However, the gold selling and buying market can be confusing for someone with no prior experience. There are several factors to consider before selling gold jewellery with gemstones. There are also specific techniques you need to think about to make sure you get the best price for your piece. Don’t worry. The experts at a reputable gold buying and selling store in Toronto have created this blog post guide to help you out. Read further to find out how you can sell your gold pieces for the best price.
7 Tips to Help You Sell Gemstone-Studded Jewellery
Know the Gold’s Value
Anytime you are looking to sell a precious metal, especially gold, you need to have a good idea of its market value. Yes, you will need to do some leg work before you start collecting offers as this will help you get a better idea of what you are working with. For instance, if you take your piece to a pawn shop, they are likely to appraise it at a significantly lower value than its actual worth. This happens because they need to flip it to make a profit. That is why it is vital to conduct thorough research before making a decision. Rather than trusting people who are likely to undervalue your jewellery, here is what you can do instead.
Get a Certified Appraisal
Take your jewellery to a certified appraiser. It may cost you a little upfront, but it is well worth getting an assessment to help you understand how much you should charge. This will prevent you from losing money in the long run. Also, research items similar to yours online to get a reasonable indication of what you can expect price-wise.
Research Gold’s Market Price
To find out exactly how much your gold is worth, find out its current market value (in grams). First, you need to find out how many karats your piece is. This can be done by finding its stamp or hallmark. These markings are important as they indicate the purity of your piece and in turn how much you can charge for it. Also find out the exact weight of your piece in grams to help calculate its exact price.
Determine the Value of the Gemstones
If your gold jewellery contains gemstones, you need to find out whether they are precious, semi-precious, or imitation. This is in no easy task, unless you are an expert. If you have some idea, you will be able to understand by their texture, feel, appearance, and weight whether they are real or fake. If not, take it to a reputable jewellery store to be examined by an expert. They can give you information on the stones and tell you how much they are worth. This information, in turn, will help you figure out whether you want to sell them with the piece or separately, or keep them.
Remove the Gemstones
If you discover that the gemstones in your jewellery are precious or semi-precious, you can remove them and sell the precious metal alone. However, removing gemstones isn’t easy as they can easily be damaged. Instead, it is advisable to hire a jeweller to do it. It may cost you a little more, but it is better to have a professional handle it. Once the gemstones are out, you can use them in a new piece, or sell them to a gemstone buyer or collector.
Sell the Gemstones with the Gold
Another option is to sell the gemstones with the gold jewellery as a complete piece. This is advisable if you are dealing with a piece high in value based on its brand, design, or antiquity, among other factors. It might be able to fetch a higher price intact than if you sell the metal and stones separately.
Add Value to the Gemstone
If you are dealing with antique, vintage, or estate jewellery, chances are that the gemstones have suffered damage. In such cases, you can have the stones re-cut and repaired to improve their optical properties and in turn improve your profit potential. If your vintage pieces have rough-cut gemstones, take them to a lapidary who can cut them properly to increase their value. Expect to be charged a small fee. Remember to clean and polish the stones before having them appraised to increase their value.
Selling jewellery can quickly turn confusing when you don’t know what to do or where to go. Hopefully, these tips will help you better understand the best ways to sell gold pieces containing gemstones.