Gold Buyers In Singapore
Where To Sell Gold In Singapore
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Ideal Gold Buyers In Singapore
Gold being a precious metal, is highly valued and sought after. It’s a consumer favorite. In various proportions with alloy and distinct colors, it’s fancy to own as an accessory. Thus, it attracts many buyers; companies and individuals, the haves and the have nots, bourgeois, and proletariat.
When looking for the optimum way to sell gold in Singapore, it is most important to contact the most reputable gold buyers in Singapore. Getting a trusted buyer is necessary as it would save time, energy, and resources.
How To Sell Gold In Singapore
Before you sell gold, there are elementary things you need to know. First, you don’t just walk blindly into the market; you face the risk of loss if you do.
- Get an appraisal to ascertain proper evaluation to know the real worth of your gold. If you wish to sell new gold jewelry, ask for the retail price, but the resale price is what you need if it’s used
- Before selling gold, carefully observe your jewelry for certifications such as markings, dates, brands, and research whatever you find. Your jewelry might cost a fortune
- Make sure your jewelry is in a good state. Ensure you clean it. Take note of damages, dents, or missing parts as they reduce value
- If you want to sell gold for cash online, ensure you have awesome images with perfect lighting and a black or white background
- If you have your piece’s receipt, packaging, and documents, ensure you provide them as details if you’re looking for a high price from gold buyers in Singapore
- Keenly follow updates on gold selling price in Singapore and gold spot price
- When searching for “gold buyers near me“, contact a reputable gold buyer in Singapore who is GIA certified and has a BBB rating review
How To Price Your Unused Gold Jewelry
Gold price increases as the value of the stock market decline, putting gold at a recent record high due to the recent drop in the value of stock indices. Most people have gold laying waste around the house, mainly in the form of unused jewelry. This bauble of bling could give you extra cash to settle expenses. A barrier to getting cash for gold is that you may worry about being cheated, but with the knowledge of how to price unused gold jewelry, that’s a forgotten case.
Gold buyers in Singapore price gold according to the pure gold content that can be extracted from your jewelry. How to know the pure gold content of your jewelry is easy. Gold is graded and measured in karat. For example, 24k gold has 99.99% pure gold, 18k contains 75% pure gold, 14k contains 58.3%pure gold, and 10k contains 41.7% pure gold.
Never settle for less when selling. Try as much as possible to get your item’s worth!
Gold Price Table
Gold is priced according to its weight. The price is always in motion as the economy and other factors control it. Unless noted, the price of gold refers to 24 karats pure gold
Gold Buyers always pay attention to the spot price, and you should too. It is the current market price, and it fluctuates based on changes in demand. Therefore, gold buyers in Singapore always look to buy below the spot price. However, it would help if you weren’t afraid to negotiate prices or walk away from inadequate pricing.
How To Calculate The Jewelers Markup For Gold Jewelry
The term markup refers to the profit resale margin used by gold buyers in Singapore. The markup for gold jewelry is usually 2 or 3 times the price at which it is purchased. Famous brands may have a higher markup to maintain exclusivity. Retailers always mark up wholesale prices. The markup is lower when dealing directly with manufacturers as opposed to middlemen.
If you want to sell a gold bracelet, you should know the weight, karat, and market price to determine a jeweler’s markup. Jewelers weigh gold in Troy ounces:
- 1 Troy ounce = 20 pennyweights (dwt)
- 1 pennyweight = 24 grains (gr)
- 15.43 grains = 1 gram (gm)
- 31.10 grams = 1 Troy ounce
To know the percentage of gold in a karat, check this table
To sell gold rings, sell gold necklaces, sell gold earrings or any gold jewelry; the formula for calculating markup is as shown:
- Divide the daily gold price per Troy ounce by the approximate number
- Multiply the result by the weight of the item to calculate its pure (24k) gold price
- Multiply the pure gold price by the gold percentage
- Divide by 24
- The final result tells you the value of the actual gold content of your jewelry to figure out the jeweler’s markup price of gold buyers in Singapore
Where To Sell Gold In Singapore
There are numerous options for gold buyers in Singapore, but not all are equally good. They all have pros and cons.
You can find gold buyers in Singapore online, but there’s a long process of sending pictures, videos, giving explanations on any damages while convincing potential buyers.
Then there’s the price negotiation before you ship your jewelry to the buyer. Finally, it is after receipt of the package that the buyer makes payment. This isn’t ideal if you’re in urgent need of cash, as you would need to wait for some days before a deal is closed. Therefore, it’s important to check gold buyers in Singapore’s review before trading with any individual, store, or company online. Also, enquire about payment methods.
Another source of gold buyers in Singapore is pawn shops. It’s an easy process with a fast transaction, but you’ll be faced with low-price offers. In addition, there is a great likelihood of encountering employees who know nothing about gold and its value. You can hardly strike a good deal in a pawn shop as they want to buy at scrap value.
Gold buyers in Singapore are surplus in local jewelry stores. They offer higher rates, fast transactions, and knowledgeable staff. The experience is even better when trading directly with a manufacturer as you would boycott additional expenses that would have been incurred via a middleman.
According to research, the best Gold buyer in Singapore is “Dianoche.” We have the best Google and online reviews. With twenty-two years of experience trading gold and a mission of making customers happy, we offer free appraisals and unbeatable prices.
You can never go wrong doing business with us. So if you’re interested in selling gold jewelry, fill and submit the form below to contact us and schedule a meeting.