What You Need to Know Before Selling Your Gold Jewellery or Bullion
If you want to get the most out of any gold investment, you need to know how and when to sell the precious metal. This can be more easily done if you inventory what you have and are sure about your selling plans. You also need to arm yourself with information – details that will help you look for markings and understand more about carat weight.
Weigh the Gold Items First
Weigh your items before you sell them so you receive a fair price. Also, find a reputable local buyer when selling gold in Sydney. The seller should offer full services, including loans for people making gold transactions. By taking this step, you will usually profit in more ways than one. If you don’t know what you are doing or have not prepared yourself, selling any gold items can become intimidating, if not uncomfortable.
The best way to prevent any misgivings or scams is to work with a local gold buyer and learn all you can about gold-made items. At the minimum, you should know how much each of the items you wish to sell weighs. Beware of buyers who use pennyweight instead of grams. A pennyweight weighs 1.555 grams. Therefore, sellers receive just over 50% less than when gold is weighed in grams. That is why you should familiarise yourself with the weight of your gold items.
Review the Items and Look for Stamps
To protect yourself against any scamming, look for the stamps on an item that reveals the carats. When the carat weight is lower, you will get less money. Items made of 24-carat gold are made up of more pure gold than items made of 10 carats. A lesser carat weight means that other alloys are used and the gold jewellery or item is less valuable. Knowing this information is invaluable, as you don’t want to sell an 18-carat ring at a 14-carat price.
The best way to ensure success when selling any kind of gold is to know your seller. That is why it pays to deal with a local gold seller. You should perform some research before making a call. Make sure that gold bars or bullion are clearly marked. Any of the items should also be clean and easily identifiable. You should know your product well enough so you can do business with a reputable dealer.
Does the Buyer Purchase Diamonds Too?
Make sure you work with a buyer that offers a pricing guarantee and also buys gems, such as diamonds. The business should offer pawn loans so you have more options. When cash is paid, it should be paid on the spot. What is the business’s buying record? Does it pay two to three times more than the competition? All these questions must be answered first.