» » » How to Get the Most Out of Selling Old Jewellery

For other people, selling old jewelleries turned out to be a great investment. They would purchase it from others and wait for the perfect timing to sell it to another buyer. Since the price of jewelleries tends to increase over time, investing on this venture can be worth a fortune. And, since everybody knows it can be exchanged for a big amount of money, nobody likes to settle for what they can when it comes to selling old gold or jewellery, even if you’re just doing a clean-up. Naturally we all want to get the right price, that is, the price that is right for ourselves. The trouble with this philosophy is that we easily forget how the same thing applies to whoever we’re trying to sell our gold to; they want their own right price too.

Sometimes it can seem inevitable that you’ll lose out when selling, and that there’s just nothing you can do about it. But that’s not the spirit; no. If you approach it right, you can make some good money selling your old gold and silver jewellery. Here are a few tips for anybody looking to sell, to help you fetch the best price that you can. 

Selling your jewellery to the right buyer

Selling Old Jewellery
Find out as much as you can about as many buyers as you can, specifically with regards to their reputation and rates. There are as many companies out there as you can count, offering to buy gold and silver jewellery at fair prices; but obviously, all of their rates differ. Some of them differ slightly, and some, you will find differ greatly. Let other sellers deal with the buyers who are too far out of what seems reasonable, especially if it feels like you’d be getting way too much; those ones have scam written all over them.When investing on this venture, finding the right buyers is one of the essential factors that you need to consider about this. Read blogs, check websites and search the internet if you must. The best way is to talk to somebody who has dealt with the company before. Compare their various rates and see which ones offer the best deals. Consider the professionalism of the companies you are dealing with, you can see when something looks too dressed up. If you’re searching the internet for buyers, include your city name in the search, something like ‘gold buyers in Melbourne’ would be a far better option than ‘gold buyer’, unless you’re brave enough to try it over post.

Selling at the right time

In investment, always remember that the price can go higher or lower in a certain period of time. Commodity fluctuations are always one of the first things you should think about when selling gold or silver jewellery. The prices of commodities and precious metals like gold and silver seem to be completely out of anybody’s control. Gold luckily seems to fluctuate at a less erratic rate than things like oil. It’s generally a good bet investing in gold, so it’s generally a good thing to sell. Having said that, if you really want to get the best price you can for your gold, you should wait for a while. Watch the market closely, and wait until you’re satisfied with the figure. 

Selling at the right quantity

Higher quantity yields higher sales. The immediate benefit of selling an item is not always obvious. But if you sell a lot of scrap jewellery, it becomes clear to you that it’s a much better option than having the jewellery gather dust. The amount of gold you’re actually selling is not the weight of the jewellery itself. The purity of the metal in your ring or necklace is measured in karats, which represent the actual amount of gold or silver per piece. So you’re not only aiming to make money off of the amount of jewellery you sell, but the quality as well. So when you’re working out roughly how much you can expect to get for your gold or silver jewellery, check each item individually. It could end up looking like far less, or far more than it does as a lump of dust covered metal. When you invest in selling gold, make sure that you check the quality of the pieces you are selling to ensure that it can yield the best price. The success of your investment will also rely with the quality of the pieces you are selling.

Selling for different reasons

It doesn’t matter if you’re just turning some spring cleaning into a profitable activity, or if you really need the cash flow; it’s never a great idea to rush into selling your old gold and silver. While it’s a good idea, and a lovely way to get cash for things you don’t need, it’s also slightly tricky. Not overly tricky, which is why people do it all the time, but tricky enough to require you to do your homework and be a little patient. If you go into it willy-nilly you will get some cash, but certainly not as much as you had in mind.

Investing into selling your old jewelleries doesn’t have to be too difficult. As long as you follow the tips indicated above, getting the right price can become easier for you. You can easily earn some extra money which you can save for another investment venture or just save it up for future use.

About Denny Jones

Hi there! I am Denny, a personal finance blogger and I love to share tips related to managing finance for a better living. Follow my blog for lots of fresh and exciting tactics to control your finances.
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