You may have some gold jewellery that you would like to sell. You could have some old earrings you have no use for or inherited some gold jewellery that your aunt may have passed down to you but you could never wear because it isn’t your style. You can sell gold jewellery Melbourne you have no use for. It is better to sell all that old jewellery for cash. However, if you have never sold gold jewellery before, the whole process can be pretty daunting.
You’ve seen the signs promising quick cash for your old gold. They are everywhere. Thousands of gold buyers trade online and promise easy cash. Do not just be in a rush to get that cash for your gold and getting a fair price can be hard when the market is volatile. If you have gold jewellery you want to cash in, there are lots of ways to sell the jewellery safely and for the best price. The first rule you need to follow is research.
More and more people are looking to sell gold jewellery Melbourne. The recent pandemic that has led to thousands of deaths, loss of income and high inflation has pushed a lot of people to start looking at ways to make money. People are selling all kinds of gold jewellery from high-end jewellery, even going as far as selling very low –value gold just to get some money just to get by.
To make sure that you get the best price for your gold, you should get it appraised. The easiest thing you can do to calculate the value of your gold is to follow the spot price and to weigh it. Once you have worked out the actual amount of gold in the jewellery, you can get an idea of whether you are being lowballed by a potential buyer or you are being offered a fair price for your gold. If you are able to, you can take your gold jewellery for a professional appraisal. These tend to be expensive and rather unnecessary unless you need insurance cover.
Shop around for a good price on your gold. Asking people you know to recommend a good buyer with a good reputation can also help speed the process and help you get the right price for your gold. Estate lawyers can come in handy when you need to offload some gold that you have inherited.
How Much Can You Get for Selling Gold?
There are a variety of online sources that will give you a daily spot price for gold. This isn’t an amount you should expect to get especially for jewellery as the value of gold jewellery is based on wholesale value and by selling to a cash-for-gold buyer, you are actually selling to a middleman who also needs to make a profit when he sells your gold to a refinery. Gold buyers typically offer 40-45% of the actual value. Pawn shops pay as low as 20%. So what is actually a fair value that you can expect for your gold. According to experts, consumers usually sell gold to someone who will pay between 60% and 80%. You should expect to get more than this because at the end of the day, the businesses you are selling to need to make a profit and they can’t do that if they aren’t offering competitive prices.