Gold is doing well. As the economy and geopolitical tensions ease, gold remains strong. It is during these hard and challenging times that people start looking for ways to make a little extra money or to downgrade. Of course, this also makes the gold buying industry more profitable, so it seems that anyone and everyone wants to give you cash for gold Melbourne. The problem with all these new players in the industry is that they don’t always offer the best gold prices.
Table of Contents
#1. What is your gold worth?
When looking for buyers for your gold, you need to have an idea of what the gold is worth. It’s not rocket science. The easiest thing to do is weigh the gold, check the carat number, and then see the cash price per gram for the gold trade. This may not be an exact number as gold prices are constantly changing, but it will give you an idea of what to expect. However, many people don’t know what the gold they are selling is really worth.
#2. Is your gold jewellery more valuable than the whole piece or scraps of gold?
Not all jewellery is created equal. Some pieces are intricate works of art, others are old, vintage design pieces, a lot of the gold jewellery on the market are typical mass-produced jewellery such as necklaces, pendants, bracelets and bangles. If you want to sell your jewellery as jewellery sell it to a jeweller or try eBay. You can get more money for the gold content and have the design and stones accounted for. If you have used or damaged gold jewellery, don’t waste your time trying to find someone who will offer you a price for the gold as it is. Scrap gold is only valued for the gold content and nothing else. The purer the gold the better. The more gold you have the better.
#3. Base your asking price on the market value
People often think they can sell their jewellery for retail value or as close to retail value as possible. It is rare to find a buyer who buys gold jewellery at premium prices. People don’t realize that jewellers make huge margins on the gold content of gold jewellery. In case of resale of the jewellery, you will not receive any profit from the jewellery.
Final thought:
If you want to get cash for gold jewellery, make sure it doesn’t hurt too much to part with it. Many people have high expectations because of the importance of a particular piece of gold jewellery in their lives. You need to have realistic expectations. Also remember that a lot of cash for gold Melbourne dealers are happy to get unwanted broken and damaged jewellery. Take the time to do a little research on what buyers are currently offering. Get as much information as you need from several buyers before making a final decision. Don’t go for the first offer you get. Explore all the options you have and choose the one that works for you.
