The price of gold is on the way up. After the uncertainty of the pandemic and the impact of emerging markets, its price is at an all-time high. But did you know that collecting also took a huge upturn in the pandemic, making certain styles of jewelry hike in value?
Essentially, there has never been a better time to sell. If you are thinking "I want to sell my gold" then read on as we give our must-know guide.
Firstly, gold as a base metal is impacted by market value. With all other elements out of the way, your gold jewelry will have monetary worth for this alone. There are a number of factors that can influence the gold value as a base metal, regardless of the factors that add to it as a jewelry item.
These factors combine to determine what the worth of gold is. That means you could try to sell your item one month and get a totally different price the next.
Once you have the value of your gold jewelry as a base metal, there are other elements that can impact its worth. Keep in mind that these often fluctuate as well. Fashions and trends come and go.
One factor that determines the price of your jewelry is the maker and designer. Very often, some of the motifs and marks may be so small they may almost be imperceptible to the human eye. It may also not be the names and brands you expect.
For example, brand names such as Cartier and Chanel also command a high price, but may not have the value you think. What does give them precedence will be the designers that made them for the company at the time. These will be hallmarked on the piece, though you may need an expert to unearth them for you.
Very often, these engravings are tucked away inside certain parts of the item. This is why you should seek an expert to value the piece for you.
It is quite probable your gold jewelry has stones set within it. These should also be considered as part of the item's intrinsic value as well as the metal itself. Like all precious metals and minerals, stones have their own values that rise and fall.
For example, diamonds have recently suffered a slight fall in their price. Consider that the diamond trade is an unregulated one, and this can be a volatile and dangerous market to invest in. You should always get advice from an expert when discussing them.
Emeralds, rubies, and sapphires are also prized stones. The value of these will be judged by a certain number of characteristics. These include the size, color, clarity, and cut.
There are several tips you should use when selling gold jewelry. This will help you get a better deal and make the process much easier.
You may have a certain attachment to a piece of jewelry, particularly those that are heirlooms. Always have in mind that this is applicable only to you, not dealers or buyers. It will not be reflected in the price offered, and you must break the emotional connection to it to get a fair and even price.
Make sure you check the credentials of a dealer before leaving jewelry with them or shipping it. If you do leave it with them, make sure you get a receipt to say it is in their possession. Check what their reimbursement procedure is should the item go missing.
Part of staying safe involves knowing that they are a reputable buyer. See if they have any license applicable to your state or if they are members of trade associations. Using a well-known gold buyer in Nashville is also a surefire way to stay safe.
When selling gold, you will only get paid for the parts that are pure. Most jewelry is 10, 14, or 18-carat gold.
Once you know this, you need to know current gold prices. This is a reference and is not the exact price you will get. The person you are selling to will need to make a profit, so it is unlikely they will offer the exact amount.
Add to this the other factors such as hallmarks, stones, and current trends. This can help you get a ballpark figure of what your gold jewelry is worth.
There is no end to the buyers you can find for gold. The most reliable will be the high-end vendors, such as the big commercial suppliers like Tiffany and Cartier. However, for the best prices, you can go for independent salespeople.
When you find independent salespeople, go back through the section on staying safe. This is the easiest way to get scammed and lose money. A great middle-ground is to find established, local jewelry stores in your state.
When you choose our service to sell your jewelry, you enter into a very streamlined and fair process. It begins with a trip to our Nashville location with our gold, jewels, or watches.
While you wait, our experts will give an evaluation of your items. If you decide to accept, you will be paid the same day in cash.
If you are thinking "Should I sell my gold?" then get a quote. You don't have to sell if the price is not right. Get quotes from a few locations and you can decide which is best.
Your first stop should be Green Hills Gold and Diamond Buyers. We have a central Nashville location and can provide evaluations on the same day. Contact us here to discuss your items and get a quote.
You May Also Like: