If you are like most people, you have a few favorite pieces of jewelry in your jewelry box, but you also have some old outdated or broken jewelry too. With gold prices reaching historic highs, it might be time to cash in some of that gold jewelry.
Before you sell jewelry to your local jeweler or sell jewelry online, consider these five helpful tips.
Tip 1. Understand scrap gold prices
When you purchase gold jewelry, the price is based partially on the value of the gold and partially on the artistic value of the jewelry. Most people sell jewelry as scrap gold and not for its value are a piece of jewelry.
When you sell jewelry as scrap gold, you’ll find that the price is based strictly on the gold content and weight. The scrap gold value is always considerably less than the artistic value of the jewelry.
Tip 2. Make sure you are properly paid
If you go to a local pawn shop to sell jewelry, make sure you’re ready for high pressure! They will offer you rock bottom prices for your gold and then switch to high pressure sales when you try to leave without selling them your jewelry.
On the other hand, you can sell the payment gallery on certain web pages. That way, you can see exactly what they pay before you ever send in your gold jewelry.
Also, make sure your gold buyer offers you a satisfaction guaranty and a price match guaranty. That way, you’ll know you are getting the best price.
Tip 3. Safety first
Let’s face it, pawn shop are not often locating in a good neighborhood. Often times you’ll find that you have to go to the bad part of town just to sell jewelry. It is not safe to walk around carrying gold jewelry, and then intentionally go to the bad part of town.
If you sell jewelry online, you can do it from the safety and security of your own home.
Tip 4. Testimonials
The more well know cash 4 gold type web sites are often well known for their bad reputation. When you sell jewelry online, make sure you use a site with good customer testimonials.
Many sites have a ton of complaints on the Better Business Bureau. No news is good news when it comes to BBB complaints.
Tip 5. Fast Payment
Some online gold buyers expect you to wait for days for your money. When you sell jewelry online, look for a company that has the same sense of urgency as you. Do they offer quick shipping? Do they offer quick payment?
Some companies make you wait days while they send you a Gold Pack. However, some companies allow you to print a label and ship the same day.
Some companies make you wait for a check in the mail, and sometimes days for the check to clear, while some companies offer direct deposit into your bank account.