Gold jewellery is a commodity who’s value fluctuates often as does silver jewellery. You may not get a return on the money you have spent on it. You won’t get a return based on the design or the brand, but you will get a return on the gold and silver itself for refining. This is probably the only thing that you wear that has investment value. You don’t get a return on clothes or the expensive luxury brand shoes you blow your salary on but you can get cash when you sell your gold or sell silver . When you get tired of your jewellery, you don’t have to store not away in some jewellery box because all it does is to gather dust. Clean out your closet and your jewellery once in a while and sell your gold and silver to a gold buyer. To make sure you get the right value you should ask potential buyers a few questions.
How long have you been buying / selling gold and silver jewellery?
Since the gold price rose past the $1,200 mark, a lot of buyers started to pop up from everywhere. You can find a gold buyer on every street corner. You can even find a hair salon that buys gold and silver jewellery. It’s a growing industry that seems to be lucrative. However, why would you sell your precious jewellery to the guy who cuts your hair? What would such a person know about gold and silver? Why would you even assume they would know how to value your gold or silver? You should be choosing a gold buyer that has been in the business of buying for a while. Someone who operates from an actual store and has the experience and a good reputation, otherwise you are putting yourself at risk of losing your silver jewellery and not getting the kind of money you deserve.
Do you have any customer referrals?
If you have never sold gold or silver jewellery before, you want to find out if the buyer you choose can actually do what they promise they can do. The best way to learn how good a gold buyer is by asking people who have used his or her services before. Look for testimonials or customer reviews on Google and review sites to find out what other customers have experienced with that particular gold buyer.
How will you assay my items?
A gold buyer cannot simply claim to know the quality of your gold or silver by just looking at it. Even the karat stamped on the jewellery should be verified and the best way to do that is to assay the gold. Your gold buyer should be able to explain how he plans to test the purity of your gold. This is not a complicated process, nor is it so special it needs to be kept secret! Most reputable gold buyers use XRF analysers.
What is the price being given based on?
A reputable gold buyer will test the purity of your gold and silver, weigh the metal, take note of any gems included and consult the day’s spot price. These are the things that should be used to determine the value of the gold and silver jewellery you bring to a gold buyer when you need cash for gold or to sell silver. This should all be done in front of you for the sake of transparency.
Is the value of the gemstones included in the final price?
The answer may not always be yes. Most gold buyers are only interested in the gold and silverr. Gemstones and diamonds should be removed from the gold. Some buyers will give you a price for diamonds. The rule is that diamonds that are under .20 carat do not add much value as they are common mass-produced gems. Gemstones like rubies, emeralds etc. also don’t get featured in the final price regardless of how big or how rare they may be. They will affect the total weight of the jewellery so the buyer will have to weigh them separately to deduct the weight from the total weight of the jewellery.
These questions should help you find a reputable buyer and to know when you are being given a good deal to sell silver too