treasure-395994_640A lot of us would like to have an extravagant jewellery collection leaving us with plenty of choice of what we can wear each day and on special occasions. Some people end up building up a massive collection of jewellery over the years, and something they do not realize how valuable it can be. If there is ever a time that you are in need of some extra cash and you have gold jewellery which you hardly ever wear, then you may just be sitting on a veritable gold mine.

  • Check out your Jewellery

Although there is value to costume jewellery, it is often not as valuable as jewellery that is made from purer gold. The first thing you will need to do is to take a look at the items of jewellery that you are willing to sell and look at the hallmark that is stamped on it. The hallmark will tell you the purity of the gold, with 24 carats being the purest form. Once you have your unwanted jewellery ready, it is time to give it a clean.

  • A Quick Once Over

It is always worth your time and effort to give your gold jewellery a quick light clean before you look to sell it, especially if you are looking at a private sale. Hopefully, your jewellery has been well stored so that it is not tarnished or dusty. A quick clean with a damp, soft cloth will have your jewellery in a good enough condition to sell it.

  • Finding a Quick Buyer

If you have plans on selling gold jewellery for cash, then the best options available to you are gold and metal merchants, or a pawn shop. With a pawn shop, you have the benefit of being able to borrow money against your jewellery, using them as collateral, if you do not want to sell. But, there are also pawn shops where you can sell your gold jewellery based on the market price for that day.

Pawn Shops and Metal Dealers are quite prevalent all over the country, and most metal dealers will deal with everything that is valuable. Make sure that you only talk to shows and dealers that are licensed and also have the proper accreditation, which will help to make sure that you get a fair and just price for your jewellery.

One thing that you do have to keep in mind when you are selling gold jewellery is that when selling to a pawn shop or dealer, you will only get the scrap metal value of the gold. People are often surprised by this, especially when they bought the item themselves for a substantially larger amount of money. Jewellers have their mark-up on pieces that they sell to make a profit, so it is important that you have a realistic idea of the value of your gold before you try and sell it. You can easily find out the price of scrap gold by searching the internet, and many companies will even offer different prices for the various carats of gold, making it easy for you to work out the value of your jewellery.

Join the Thousandaire newsletter

Screen shot 2017 04 25 at 1.36.50 pm

Subscribe to get our latest content by email.

Powered by ConvertKit
Spread the love