Selling gold bracelets can be tricky. We are here to help you navigate the gold market and avoid tricksters and frauds. Our suggestions have been tried and tested for those who wish to sell gold bracelets and get the best deals out of it.
Selling a Bracelet to Gold Dealers
Perhaps the easiest and most secure way for you to sell a gold bracelet is to offer it to gold dealers. They buy gold from different sellers in order to resell it to gold refineries. Here the gold bracelet that you sold is then melted and reused.
Many gold dealers encourage people to sell gold bracelets and offer a good sum of money. They may purchase your gold to recycle or keep it to themselves.
When you sell a gold bracelet to a dealer, the price of gold they offer depends upon the gold content of the bracelet.
If your gold bracelet is simple and not something rare, you would find gold dealers to be a good option to sell your gold bracelet.
But if your gold bracelet features some unique design or is an antique piece, the gold dealer will not keep that in mind and will treat it in the same manner as an ordinary gold bracelet. So, bear in mind this point while approaching gold dealers to sell gold bracelets.
How Much Money Can You Get for Your Gold Bracelet?
To find the value of your gold bracelet, you can go for a jewelry appraisal.
You could go for either one of these three credible institutions that appraise your jewelry and tell you it’s exact worth:
The American Society of Appraisers, the International Society of Appraisers, and the National Association of Jewelry Appraisers.
These three institutions hold the highest levels of professionalism and expertise. They charge a consultation fee based on an hourly basis. Once the appraisal of your gold bracelet is done, you can get a concrete idea of what your gold bracelet is worth.
Don’t disregard your gold bracelet just because you think it is old or ordinary. There are many instances where old gold bracelets brought in to sell turn out to be rare and fine gold jewelry.
When you sell a gold bracelet, keep in mind that jewelry from exclusive and famous designers or from big luxury brands have a high resale value. During the appraisal, the experts will guide you on this.
To find out the realistic price you can get by selling gold bracelets, ask for the melt price of your jewelry. most experts consider it to be a great deal if you managed to get between 70 to 80% of the melt value.
Or, if you know the karat value of your gold bracelet, simply divide the karat number by 24 and then multiply the result by 100. This gives you the gold percentage of your bracelet.
The weighing process of your jewelry is very important when you go to sell a gold bracelet. Gold prices are calculated per unit of weight. So, you need to find the accurate weight of your gold bracelet in grams.
Once you’ve weighed your bracelet, use the aforementioned formula to calculate the gold percentage. Then, multiply the gold content value with the weight in grams. This will give you the total value of pure gold in your bracelet.
For example, if you have an 18K gold bracelet weighing 20 grams, and 60.2% of it is pure gold, then your final value of pure gold will be 20 g x 60.2% = 12.04 grams.
Multiply this value with the current price of gold per gram, and you will get the value of your gold bracelet. Note that the price of gold changes daily so you will need to be aware of the spot price before you finalize any deal.
What About the Stones in Your Bracelet?
This depends entirely on the types of stones embedded in your gold bracelet. But the bottom line remains the same – do not expect to get retail prices for the stones when you sell gold bracelets.
If the gold bracelets contain precious stones such as diamonds or even other gemstones, they will be assessed individually to determine their value.
They will primarily be checked for the 4Cs – color, clarity, carat weight and cut of diamonds. These play a significant role in determining the value of diamonds.
You can check out our in-depth guide on factors that affect diamond prices to get a clearer picture of what to expect.
Gold dealers may not offer a good price for the stones because they have no use of it. This is why you should only approach gold dealers for bracelets that do not have diamonds or gemstones.
Or get the stones removed before selling it to the gold dealer.
You can even sell the stones separately or with the bracelet to retail jewelers.
Can You Sell Your Gold Bracelet to a Jewelry Store?
If you want to sell gold bracelets immediately, you could visit your local jewelry store, preferably the one where you originally bought it from. Jewelry stores buy back old gold bracelets in order to either melt them or simply resell them.
In case you want to buy new jewelry by exchanging pre owned gold bracelets, jewelry stores have an option for that too.
Most jewelry stores provide buy-back offers or in-store cash points. You can avail these while shopping for your next piece of jewelry upon exchanging your bracelet.
Jewelry auctions are easy to set up. You can find tons of online auctions taking place where you can sign up to sell diamond bracelets or fine gold bracelets.
Jewelry auctions are particularly advantageous for you if your gold bracelet has a unique design or is a rare piece.
In such cases, you could find buyers who will pay you more than the price of the metal. Such deals are very profitable.
Do you want to sell a gold bracelet without any hassle?
We’ve got you covered. At Sell Your Jewelry we purchase old, pre owned gold bracelets and offer the best prices in the city.
Book a free appointment and bring in your gold bracelet for assessment by our experts.
We take into consideration factors that affect gold pricing and offer you deals you cannot refuse. Visit our website to avail a free consultation today.