Gold, as we know it, is a precious and highly valuable metal that is never available in excess quantities. In other words, there is always a market for gold, both during peak periods and off-peak periods as it relates to price fluctuations. It has been employed in the production of valuable goods such as jewelleries and these have become popular over the years. People have now started taking advantage of the prominent value of gold to sell their jewelleries whenever the price increases. This is of course very useful when you need money quickly for any reason.
How The Value of a Gold Jewelry is Calculated
When you’ve decided to sell your gold jewelry, there is some responsibility imposed on you which is rather inevitable. First you have to evaluate your piece and know how pure it is. Then you have to deliberate on which buyer to hand your gold over to. But aside from all that, you have to know at least a little about how your gold jewelry will be evaluated and priced.
The first thing that most sellers do is check the market value of an ounce of gold. This is necessary but don’t expect to get paid for your sold gold jewelry at that rate. You should note the fact that you will be paid according to the scrap value of your gold jewelry. And not just the scrap value, but a portion of it. This is because there are expenses on the buyer’s part. The buyer will melt the gold and calculate the value regardless of the design. Then he will subtract the cost of the smelter’s service and his own profit from the value before paying you.
The purity of the gold jewelry is also a very important factor, probably the most important. A 24 carat gold piece is the purest gold in existence. As the number goes down, the purity diminishes too and so does the market value or price per sale in this case. You can find out how pure your gold is by carefully examining the jewelry. You’ll usually find the carat value engraved on it. If you can’t find it, perhaps a jewelry store can help you. I’m not in any way trying to discourage you from selling your gold jewelleries. It’s actually one of the best things to do when you need money as soon as possible. This is just to educate you so you won’t be surprised when you get a lower sum than you anticipated for your jewelleries.
How and Where to Sell Your Gold
Know the market value and the purity level so that you’ll have an idea of how much your gold jewelry should be worth. Once that is done, the next thing to do is to find a good seller that has a good reputation and can pay you a good amount for your jewelry. Beware of people that promise to pay you the best amount – most of them don’t live up to their promise. Try whenever you can to get recommendations from people you know that have successfully sold theirs, especially if it’s your first time.
Gold jewelleries can be sold in different ways. The most popular is through mail-away operations which are explained below:
Online Mail-away Websites like goldcashout.com
It’s simple – you mail your jewelry to them and they mail back a check. They could return your jewelry if you are not consistent with the price. They pay you a certain percentage of your gold’s meltdown value.
Other ways to sell your gold are: through gold parties, at pawn and jewelry shops, and through hotel gold buys.
When you do things the right way, you won’t regret selling your gold jewelleries. It’s rewarding and many people can testify to this.