Familiarize Yourself With The Market Before Selling Your Gold

If you have been thinking of liquidating some of your gold jewelry to earn some extra money, you may want to visit a gold buyer in your area or online to find a buyer. Before you do, be sure that you familiarize yourself with what you have, and with the various factors that can come into play when you are given an offer from a buyer. This not only ensures that you get the money that you need from your gold, but also that you don't regret the decision to sell later.

Some things to know about gold include:

Karat contributes to value. The higher the karat of your gold, the more actual gold content which equates to an increased value when you go to sell the item. For instance, you will get more from a piece of 24 karat gold jewelry than you will for the same weight of 10 or 14 karat gold.

Look carefully for a hallmark. Check the piece that you intend to sell for a hallmark or engraving. This could indicate that the item is from a renowned jeweler or company, which can enhance the value when you sell.

Stones can impact the resale value. While you may have paid a lot for a gemstone set in gold, a gold buyer is likely not going to pay you for the weight of the stone. If this is the case, you may choose to remove the stone so that you can weigh and sell the gold setting, by itself.

Feel free to make counter-offers. Hone your haggling skills and make a counter-offer if the price offered doesn't meet your expectations. The worst that can happen is that the buyer declines, though many may make a second offer.

You can't put a price on sentimentality. Just because the piece is invaluable to you doesn't mean that it is worth the same to a buyer looking for gold. If the piece means that much to you, tuck it away and think it over.

It might be prudent to wait for the market. Don't be afraid to walk away if the price offered doesn't suit you. There are constant fluctuations in the price of gold, so the price may go up in a month, year, or later when you decide to sell again.

Talk with a gold buyer about the types of things they are currently buying, such as jewelry or coins. Also, take a closer look at your pieces and consider the varying factors the determine price before making the decision to sell. This may help you better figure out what you have and what you can expect to garner when you negotiate with a reputable gold buyer. To learn more, contact a company like Desert Jewelry Mart & Coins. 

About Me

A Birthday Surprise

In a few, short weeks, my mom will celebrate her sixtieth birthday. Sadly, my mom’s health hasn’t been the best lately. In fact, she is currently recovering from a recent surgery. To show her how much I care about her, I want to buy my mom something special for her birthday this year. I’m shopping for a beautiful, emerald pendant. I want to buy a pendant to match the ring my dad bought my mom a few years ago. Because the princess cut stone in the ring is set in white gold, I would also like to find a pendant set in white gold. On this blog, I hope you will discover the most popular cuts of emerald jewelry. Enjoy!