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What Is The Best Way To Sell Gold Jewelry?

Since ancient times, Indians have always used gold as an investment option. Therefore, selling gold is a common practice in our country. By doing this, you can get money in exchange for gold.

Gold prices have increased as compared to the last decade. If you own gold jewelry or bullion, selling it can be a great way to immediately get cash by taking advantage of the high prices of gold. There are a lot of places where you can sell your gold. It can be to a pawn shop, a jeweler, or an online buyer.

What Is The Best Way To Sell Gold Jewelry?
In this article, we have discussed some of the best ways to sell gold jewelry. There are some criteria that have to be followed in order to sell you gold. They are as follows:

  1. Get an offer from a jeweler
  2. Go to a pawnshop and get cash
  3. Sell to a gold buyer to get cash
  4. Sell to a reputable online gold buyer
  5. Determine the true value of gold
  6. Sort your gold by purity
  7. Measure the weight of the gold
  8. Calculate how much you will get when you sell your gold
  9. Conclusion to What is The Best Way to Sell Gold Jewelry

Get an offer from a jeweler

Make a deal with a jeweler and walk away with cash, but you will not get as much money as expected from a jeweler. That is why you need to go to a gold buyer. The reason you get paid less is that most jewelers do not own a calibration scale.

Most of all, they will try to persuade you into buying an item, even if you are there to sell your jewelry.

Go to a pawnshop and get cash

The best thing about pawnshop is that you will get the cash within 10 minutes of entering the shop. However, there is a negative to it they will not have the required calibration machine, or purity tester. Therefore, you will not get the exact amount of how much your gold is worth of.

Sell to a gold buyer to get cash

You can check online reviews of a gold buyer and then try and sell your gold. These buyers have a calibrated scale which will get you a fair price for gold. Buying gold from a seller is the only motive they have, and they dont intend to sell you any items.

Sell to a reputable online gold buyer

Online gold buyers will provide you with the payment in the form of a check or wire transfer. The only thing to do is pack your jewelry, send it to the online buyer with an insurance bill, and then wait for the payment.

Always make sure that they tack the payment back in case you don’t like the offer provided. Send your shipment with proper tracking as it involves your precious jewelry.

Determine the true value of gold

Most of the gold sold was melted. You can expect to pay around 70–80% of the melted gold price. The cut in price is because of the cost of melting and the charges for the buyers. If the gold is an antique piece, then you can expect the price to be higher than 80%.

Sort your gold by purity

By prganizing your gold before your visit, you can save yourself and the buyer some time. You can check the labels on the gold to see the purity of the gold with the help of a magnifying glass.

This value is shown as 10k, 14k etc., wherein the K represent the karat. The higher he value of karat, the more will be the purity of the gold.

Measure the weight of the gold

Measure the weight of the gold in grams. However, the price of gold is determined by weight in grams. Make sure the weight system is used properly and you end up getting the best price. Usually the weight is measured in terms of pennyweight or troy ounce.

Calculate how much you will get when you sell your gold

The price at which you can sell or expect to be sold is based on the price of gold every day. The price is based on 24 karat gold, which is 100% pure. To find the gold rate, multiply the gold price by the purity of your gold. Then, finally, multiply that by the gold weight in grams.

Conclusion to What is The Best Way to Sell Gold Jewelry

In conclusion, you can follow the above steps to figure out the best way to sell gold. At Hema Jewellers, you can sell your gold after it has been tested and checked for purity. Our efforts will provide you with a price that is close to the market price.

You can call us at +91 8448448741 or fill out the form below so that our experts can get back to you.

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