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Jewelry Business

Top 5 Tips to Follow When You Sell your Gold Jewelry

Ever since we have opened our store, selling off gold for cash has become widely popular. Though we also offer loan in terms of old gold and silver jewelry, the craze of selling off has most of the time surpassed the former. Because, selling off comes with the benefit of instant cash, which definitely offers huge cash than any other money-generating sources. But I believe, most of the time, we end up choosing the wrong buyers after getting fooled by the false promises made by the dealers. So here we have come up with few tips that will surely help you selling off your gold to the best buyer in the city.

1. Gather all your gold: Take the whole lot of gold, silver and any other precious item that around your house. Normally gold buyers buy everything , even if it is broken and distorted. From broken necklaces, earrings, backs of earrings to bracelets, you can sell anything and earn cash from it. You can also throw in your rings with precious stones like diamonds. Reputed buyers, most of the time accepts precious stones as well. What matters in this business is the quality of the gold. So do not get beguiled by a buyer that says the jewelry you have brought does not have resell value.

2. Consider karat. There’s a mathematical calculation. According to that the more karats, the more money you will get for your gold. In most cases, you can read the inscription that says about the karat value with your open eyes, but a legal buyer will definitely get it checked in front of you before estimating its value.

3. Do your research: Before nodding a “Yes” to the value offered by the buyer, do your homework. This way you will know the price of the gold and the price you are supposed to get. Since the gold price actually fluctuates, you need to make a research of the price on the particular day. Two years ago, 24k gold was selling at over $2,000 per ounce, today it’s much higher. Though price might vary according to karat. Keep an eye on the karat before you go to your local gold buyers and sell off your valued possessions.

4. Weight is important: Normally gold is measured in grams or pennyweight. To avoid being cheated, you can do the weight using a scale. If you do not have an access to a scale, ask the buyer to measure it in front of you throughout. Keep your eye on the scale and make a note of it. And once you know the weight you can make the estimate all by yourself if you have done the research and know the gold price.

We encourage you to be an improved and empowered negotiator. After all it’s your possession and you have all the right to get what you deserve.

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