If you plan to sell your gold jewelry, it's important to do it strategically.
Do not rush, and prepare everything possible to increase its value. By reading this blog, you will know all the necessary steps that need to be taken before starting to sell your precious pieces.
This is important, since small steps can create a significant difference in the price, drastically increasing jewelry value.
Here, we’ll cover:
1) How to determine the value of your gold
2) How to increase the value of jewelry
3) What to do to increase the value of your gold
4) Where to sell it
5) How to Determine Gold Value?
The value of gold is determined by seeing how much karats it has. When you purchase your gold jewelry, you should get a certificate that will state how many karats your piece has.
The more karats your jewelry has, the better. For example, 10K gold will be less valuable, therefore cheaper than 18K gold. Therefore, even if two gold necklaces have the same weight, but one is made out of 10K gold, while the other is made out of 18K gold, they will not be valued the same way.
Sell it as a whole piece whenever possible
When selling gold, as mentioned above, it is best to be strategic.
Whenever possible, postpone the selling of the price of gold. At the moment, the price of gold is high and rising; therefore, you are safe to sell it now. Also, do not be so worried in regard to changes on a weekly basis, or one that happens at one time, you are safe.
Just wait for it to pass. However, if the price continues to decrease constantly, month over month, then wait a bit and resell it when the price rises.
You might be confused, thinking why we would advise you to postpone the selling of your jewelry. That’s because we value long-term relationships over one-time purchases. We are happy to provide you with the best possible price if that will make you a happy customer.
So, how to check if it is the right time to sell or not? Simply search online for the price of jewelry and see the gold prices. You can also search for the gold price trends on the website and see what the trends are in the past 3 months, 6 months, or even a year.
Based on that data, you can decide if you want to sell it immediately or if you prefer to wait.
If You Have a Certificate - Bring it With You
As we mentioned before, whenever you purchase your precious item, you should get a certificate as proof of ownership, with the details of your jewelry.
If you inherited your jewelry, or got it as a gift, and you don’t have it, or you lost the certificate, you can get it by visiting any jewelry store, or you can visit us at one of our locations, and we will be more than happy to provide you with one.
This is important, since if you get the certificate, the value is higher. It also proves ownership, and this is important, as with it you prove that the jewelry is truly yours.
Sell Whole Pieces
Sell a whole piece when possible, instead of in parts.
The reason is that even though jewelers will usually melt gold in order to reuse it, some pieces could be even more valuable when in one piece. And that is because if your jewelry is unique, rare, or has historic value, it will be worth much more when in one piece.
Do Small Fixes if Possible
Whenever possible, you should do small fixes on your gold jewelry.
Yes, you might invest a bit more, but if you sell damaged jewelry, you are most likely to get lower prices and profit less than you would if you fixed it.
Especially because when you establish a relationship with buyers and you create a long-term relationship by bringing the best pieces possible, they are more likely to offer you a better price.
Therefore, if you want to sell your gold jewelry or need some advice or guidelines, feel free to get in touch with us, and we will be more than happy to help you!