When we think of earning money by selling our jewelry, it is easy to be disappointed, since the gold necklace you bought yesterday at the jewelry store for $500 may be worth only $100 today.
This is possible because the profits of designers, manufacturers and distributors must be deducted from its price. Here are some good tips on where to sell gold coin and jewelry in a way that you get the most profit from it. Here is a list of things to keep in mind to earn money from the sale of your jewelry, gold and precious stones:
First of all, your gold jewelry does not need to be in good condition in order to sell it. Think that as we told you before, most of them will end up in a foundry or will use their precious stones in other settings.
However, there are certain pieces of jewelry, such as antiques, brand watches, old gold coins, or pieces created by famous designers for which they would give you much less money valuing them only as metal.
To get an approximate value of your jewel, the best option is to have it valued by a neighborhood jeweler (for free if possible) or by a relative who understands the subject. This should be your first option, since the main business of jewelry stores is not buying them, so their business does not depend exclusively on it as it happens with pawn shops. We recommend that you avoid them as they will surely give you less money for your gold jewelry than in jewelry stores.
If you want to sell a diamond or other precious stones, it is best to go to a reputable jeweler.
On the other hand, avoid “Buy Gold” type stores at all costs. Many have come up in recent years and most are of dubious repute.
A very important piece of advice when it comes to selling gold, jewelry or precious stones is that you first calculate more or less how much they are worth so that you do not go to a fully exposed establishment without having any idea of what they can offer you. In this way you will be able to negotiate much better when selling your jewels and get more money for them.
Before deciding to sell your jewelry or gold in a place, compare the value they offer you with that of other establishments. In this way, you can be sure that you have been offered a fair offer for your piece.
The price of gold is not a closed price. Each establishment can offer what it considers, and that means that you can bargain the price of it. It is possible that when you leave unhappy, they will offer you a higher value. The more places you visit, the more confident you will be of what you can ask for at least for your jewelry.
Jewelers sometimes scratch the piece of gold on a piece of basalt to check the purity of the metal. Then they add an acid that reacts turning into one color or another. Be careful because in some stores they do this test directly on the jewel, leaving an ugly burn on it. Ask before they take the test.