Gold is of one of the most sound and the least risky investments that one can make. Its value has almost zero chances of going down and making a loss on its sale is almost next to impossible. This is the reason why majority of the people in this world make sure to invest at least some amount in gold. Though selling gold is almost always profitable, you need to exercise a little caution in order to ensure you are getting the best possible price for the sale. For that, you need to conduct a bit of research. In the following lines, we have provided some tips that will help you sell your old gold jewelry.
How to Sell Gold
- First of all, accumulate all the gold jewelry that you have with you.
- Concentrate on the items that have broken down and need repairs.
- Those broken pieces that require major repairs and are not much valuable should be the first ones to be sold.
- Next, check out the items that you haven’t worn since a long time. If you have no intention of wearing them in future also, better to get rid of them right now.
- Determine the karat of the items that you are planning to dispose off.
- In case of bracelets and necklaces, look for a stamp on the clasps. Repeat the same with the inside band of rings and the fasteners of earrings.
- You will find a number written on it, followed by the letter K. The number denotes the karat of the jewelry.
- The higher the karat of your jewelry, the more pure will be the gold in it and the more pure the gold, the more price will it command.
- Get your daily newspaper and check out the rate of the gold in terms of its weight, as prevailing in the market.
- Spend sometime studying the current trend of the value of gold. This way you will not end up selling your jewelry on a day when the price has dipped.
- The day you feel that you are ready to sell the jewelry, visit a number of jewelers in your area and check out the price which they are willing to give for your jewelry.
- Finally, pick the best offer from amongst the numerous one made by different jewelers.