The purpose of this article is to give you insights about the appropriate selling process of gold (when you are the ones that are selling old gold jewelry to the trader) and help you decide on where to sell your gold. The need in this guide is due to the significant gap between the professionalism of the buyer and the high probability that the salesman is not sharp in that area. Dominating a few terms and processes will help you to maximize your profit during the selling process of gold.
Important things to remember before selling gold…
- It is very important to get real price offers that are given after a physical evaluation of the gold
- It’s funny to mention, but there are few that keep falling for that- its recommended not to let people to your homes to sell gold.
- Do your best to get at least two different offers (not by telephone but real ones)
First step: Get a phone call inquiry
Call some of the places and ask challenging questions. For instance, how they evaluate their gold. Places that would say that they have the option of disassembling big diamonds from your gold jewelry on the spot are more professional – estimating the diamonds while they are inlaid is tricky and will always be for the worse. If the diamond’s size justifies it, it’s always better to disassemble it in advance.
We kindly offer you to skip the unproductive question “how much do you pay for a gram of gold?”. Via a phone call, it’s easier to throw on any number but realistically when the offer is higher, you will probably fall harder. It is very recommended to get concrete offers instead of relying on phone talk.
It would be better if you avoided transactions with buyers who rush and force you into your decision to sell gold. Such buyers usually do not give a buffer time for you to change your mind or even guide you through the selling process of gold. If you encounter such buyers, rest assured that they offer you less for your gold than what it’s worth.
At sellyourjewelry.com.sg, we take the time to outline the evaluation process before we start so that you always feel comfortable and in control during the selling process of gold. Our offers are based on the condition of your gold and market gold price, helping you get the best price for gold.
Second step: Schedule a meeting
Please schedule a meeting in an organized place with an address. In the store, in the office etc. but not on the street, coffee shops, cars and surely not at your home. Prefer a secure place that not every man can go in and out of as he pleases.
If it’s possible and according to the amount of gold, schedule a couple of meetings on the same day so you can get at least two offers. There are areas that gather people who are purchasing gold; the main one is the gold exchange buildings. The advantage of the gold exchange area is the level of security that the buildings hold, which is excellent for making big deals.
Third step: The course of the meeting
Pay attention that the evaluation of the gold is done with your presence. Make sure to see that the person evaluating the gold is separating the gold according to its purity ranks (every alloy of gold is mixed with other metals, but the concentration of the metals changes). The evaluation needs to be done by purity groups – 14 karat, 18 karat, etc.
As mentioned earlier, in the case of big diamonds (approx. 0.2 carats and higher), ask for their disassembling and cleaning to give an offer. Make sure that the person evaluating is doing it professionally – proper scale, acids for examining the gold, magnet (gold is not being magnetized), disassembling tools, and so forth. Ask for the disassembly of everything that is considered as waste – mechanical systems of watches, cheap gemstones, locks of jewelry, and more.
The reason is to reduce the waste that can influence the price. In any sale, for any gold product, the waste calculations will be reduced – it is a natural and acceptable manner in the industry, but the waste measurements might change, and this is where the differences between the places come from. It brings us back to our warmest recommendation- get as many offers as you can.
Fourth step: The transaction
During the process of selling gold, an organized place, that reports its incomes, will make you sign some forms, these forms declare that the items that are being sold are yours. It will allow you payment via check or cash (within the boundaries of the law). In higher amounts, we recommend a check.
There are more than a few troubling factors in this field (of different types and levels), and so we believe that you must take responsibility in selling to organized sources. Good luck.
Why are there differences in price offers?
Every business has its own expertise and selling the right products to the right place will be expressed with the price.
Taking a chance – trying to offer small amounts for raw materials that their price in the market is fixed and known.
If the buyer’s knowledge is richer, he will know to pay the real price.
Sell Your Jewelry by Dianoche specializes in transactions related to gold buying and dealing in rare coins. Due to our global online/offline presence, we are a leading company for gems and jewelry by selling directly to the consumers without the middleman. Established and located in Singapore, Dianoche provides a reliable, safe, and secure platform, guiding you in the selling process of gold. We also buy gold, diamonds and jewelry. Visit us first for a free evaluation and get your gold examined by our top experts today.