3 Important Tips For Selling Gold Jewelry

If you have jewelry that you are not using and don't need, you should sell the jewelry. Your gold jewelry has value, and if you are not going to use it, you should enjoy that value.  

Think Carefully 

Before you sell your jewelry, you should think carefully. Don't just sell it on impulse. You should ensure that you will not miss it if you should sell it. Jewelry often carries a large emotional value, so be sure that you are ready to let go of the jewelry from an emotional perspective. It is easier to sell things when you don't feel an emotional tie to them.  

Always Get an Appraisal  

Next, you shouldn't assume that you know the value of what you are trying to sell. Don't rely on old knowledge; get a formal appraisal so that you know what the piece is worth. Sometimes, the only thing about the jewelry that will hold any value is that it is gold. Other times, the jewelry may have additional value due to the way that it is designed or the fact that it is an antique. You want to understand what its value is and what gives it value before you try to sell it. 

When you get an appraisal, they should let you know what type of gold you have. Gold is measured by the karat, which lets you know how much of the item is gold and other alloys. Gold on its own is very soft, so other metal alloys are often mixed in with the gold. For example, you have probably seen 10k or 14k gold for sale before. The higher the number, the more gold and the fewer other alloys in the jewelry. 

Find a Solid Buyer 

Once you know what you want to sell and what it is worth, you need to find a buyer. You will want to look for a buyer with a good reputation. Don't just sell your gold jewelry to anyone. Find a gold jewelry buyer who has a license to buy jewelry in your state. You want to work with someone who is running a respectable business.  

It is also a good idea to get a bid from at least two different gold sellers, so you can see what someone is willing to pay for your gold. Often, a buyer will pay less than its value because they want to profit from it. Getting multiple bids will allow you to see what the value is on the open market.  

If you have gold jewelry or other gold jewelry that you want to get rid of, you will want to get an appraisal and then get multiple bids from gold buyers to figure out what you can earn from selling your gold items.  

Contact a company like Rocky Mountain Coin to learn more.