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Sell Gold Jewelry: The Ultimate Guide for Selling Your Gold Jewelry
There are so many reasons people sell jewelry. It could be that they need money, the jewelry is out of fashion, or they just don’t like it anymore. However, the main aim of selling jewelry is to make a profit.
A popularly sold piece of jewelry is gold jewelry. Unfortunately, it is common to be scammed when trying to sell Gold jewelry. Just ensure that you follow the right procedures and tips to sell gold jewelry without being cheated.
How To Sell Gold Jewelry – How To Do It Right
Selling gold jewelry needs much research if you want to get the right amount of profit. However, in Singapore, there is never a lack of places to sell gold jewelry.
There are certain factors to look out for before deciding to sell gold jewelry. Some of these factors are stated below.
1. Know your gold:
It is very important to have good knowledge of the gold jewelry you want to sell. This knowledge, in turn, helps you know the amount of money you will make by selling the jewelry.
You aren’t just being paid for the jewelry. Actually, you are being paid for the part of the jewelry that is considered pure gold. Therefore, whoever you are selling your gold jewelry to is only interested in the gold and not the jewelry.
Pure gold pieces of jewelry are the most valuable gold jewelry. 24k is pure gold. Most of the gold jewelry in Singapore is 10k, 14k, and 18k. Those are not pure gold. The monetary worth of such gold jewelry are percentages of the monetary worth of a pure 24k gold jewelry.
Also, the size and weight of the gold jewelry matter. So you have to know all these features of gold and relate them to your jewelry. With that, you can know what to expect when you sell gold jewelry.
2. Know the price of gold:
Another important thing to know about gold jewelry before selling it is the gold price, Singapore especially. Gold price is not constant. It changes. Sometimes higher, sometimes lower.
Before you sell gold jewelry, check the price of gold at the moment. If the price seems like you might make a profit, go ahead and sell the jewelry. If it doesn’t seem to benefit you, wait. This decision helps you avoid loss and regret.
In addition, when you check for the price of gold, know what percentages each impure gold is worth, especially when you don’t have 24k gold jewelry. For example, a 14k gold jewelry is worth about 58.3% of a 24k gold jewelry price. This means you’ll be getting 58% of the price of pure gold when you sell gold jewelry if you have 14k gold jewelry.
The question is, is 58.3% enough for you? That is why you need to know the price of gold and prepare. Avoid disappointments.
If you can’t seem to find the price of gold for whatever karat you have, you can use an items calculator. It works by typing in the jewelry’s weight, then selecting the karatage. After that, the calculator automatically gives you an estimated value for the jewelry. This helps best if you want to send it for an appraisal.
3. Acquire an appraisal:
An appraisal is the formal assessment and development of an item of value, especially jewelry.
As unimportant as it seems, it’s good to get an appraisal before you sell gold jewelry. It is very important when you are selling your gold to a buyer that pays based on the weight of the piece. More often than not, designer jewelry is of more worth when sold as a finished piece than for its gold parts alone.
If you think your jewelry is not of any worth, then an appraisal is not necessary and will just cost you more. However, if you are certain of the value of your jewelry, then you should get an appraisal.
It is important to know whether an appraisal will be of benefit to you or a disadvantage. But, of course, the most important thing is saving more and selling at the highest price.
The Best Place To Sell Gold Jewelry In Singapore
The major problem when you have decided to sell gold jewelry is where to sell gold jewelry. Many jewelry stores are waiting to take advantage of you. There are some places you shouldn’t sell gold jewelry to.
Jewelry stores always want to sell their jewelry to you. Some jewelry stores, not all, however, will divert your focus and persuade you to buy jewelry you had no plan for. However, you can still sell your jewelry at jewelry stores if you are certain you will not be easily distracted.
Nevertheless, there are advantages to selling your gold jewelry at Jewelry stores, even online ones. A major one is that you receive instant payment, and the price might just be right for you.
You can also search “where to sell gold jewelry near me” to find pawn shops or jewelry stores near you.
When you sell gold jewelry, sell at a place that does not offer low prices. Avoid showing desperation. That will only do you bad. When you are desperate, you may end up regretting the price you sold your gold jewelry for.
With all that said, Sell Your Jewelry is the best place to sell gold jewelry. We are an online jewelry store where you can sell gold jewelry for cash.
At Sell Your Jewelry, you are sure to get quality service. You can fill in the form below to get a free consultation to guide you in selling your gold jewelry. Do not settle for less; go for the very best!