Maybe you have some pieces of broken gold necklace, bracelet, old engagement ring, earrings or diamond jewellery collecting dust and taking up space. The good news is that you can turn those unused, old or broken pieces into cash by selling them to a local or online buyer. Yes, there are other options as well like eBay, Gumtree etc. But if you want to sell your unwanted jewellery at the best price, gold buyers are the best choice.
But it is highly essential to know about the best places to sell unwanted jewellery.
Many factors influence the price of the jewellery you sell, and it’s important to be informed before you start the process.
So whether you’re looking to sell your gold chain, earrings or diamond engagement rings, this blog will give you some tips on making sure you get the best price for your pieces and where you can sell them.
How Can You Sell Your Jewellery at the Best Price?
Understand the Worth of the Jewellery You Have
The current spot price determines the gold price and quality. The price of gold is determined by several factors, including supply and demand, but also based on how pure it is. Gold’s purity can be measured in karats (24 karats = 100% pure). Therefore, the higher the karat you have on your jewellery, the more valuable it will be.
Gold jewellery can range from 14K to 22K in purity. These numbers may seem confusing at first glance, but understanding how this system works will help you determine what type of metal you have and how much you should expect to get when selling your jewellery online or at a pawn shop.
On the other hand, the value of diamonds is determined by their characteristics like cut, colour and clarity. Your local buyer can estimate the worth of your diamonds based on these factors. This is also the same process to find out the worth of your silver items.
Assess the Type & Quality of Your Jewellery
Now that you have ascertained the worth of your jewellery, it is time to assess its type and quality. This will help determine how much money you can get for it.
This is a simple task if you have purchased brand new jewellery made of high-quality gold. If this is the case, there should be no problem getting a good price for them at any pawn shop or jeweller’s store.
On the other hand, older pieces such as antique wedding sets or family heirlooms like big gold necklaces, diamond engagement rings or even damaged jewellery passed down from generation to generation in your family are slightly harder to sell mainly because there’s an added expense involved with having these pieces appraised by experts who specialise in antiques/collectibles before determining their value based on current market trends. So if you have such old pieces of jewellery, then it’s best to visit an expert gold buyer who already has experience dealing with such diamonds and gold.
If you have scrap gold, you can sell it easily because it can be melted down at once and made into a single piece of new jewellery.
Learn How Live Spot Prices Work
To sell gold at the best price, you need to understand how live spot price works. A live spot price is the current rate at which gold is being sold in the market. This rate is determined by the forces of supply and demand, which are affected by several factors — including current economic conditions in different countries, consumer behavior, and government regulations. If you sell your jewellery immediately, this is what you’ll get for it.
Live spot prices are typically displayed in daily newspapers as well as online via various websites. Live spot prices may also be shown to you by your local gold dealer if you tell them about it.
Therefore, it’s always a good idea to check into how much your jewellery is worth before going ahead with an exchange or sale transaction.
3 Places to Sell Your Gold Jewellery
The best way to sell jewellery is to find a place where you can get the highest price possible for it. If you have been looking for such a place but have not been able to find one, then this article will help you out. Here are a few best places where you can sell gold jewellery:
Your Local Jewellery Stores
A local jewellery store can be ideal for selling unused or unwanted gold and silver jewellery. The only thing you need to do is find a local jeweller in your area. You can check the yellow pages and online directories or even ask for recommendations.
Once you have found one, take your old jewellery with you and get a quote from them. If they are willing to pay more than what you think is fair, then it might be worth selling them your old piece of gold or silver that has been lying in your cupboard for years. Some may even offer store credit where you can purchase modern jewellery in exchange for your other jewellery.
However, if they offer less than what you want for it, then there’s no point wasting time with them as there are better places that will give you a much better price for your unused pieces of jewellery.
Your Local Pawnbrokers or Gold Dealers
The local pawnbroker is a great place to sell your unwanted or broken jewellery, especially as they have been in business for a long time and know what they are doing. They will also be able to offer you a good price for your jewellery, which you can then use as a deposit on something else.
It is easy to sell jewellery quickly and easily because the pawnbroker will pay you instant cash immediately on the spot. This means that there are no delays in receiving your money and no inconvenience of leaving your house or workplace to take the item somewhere else.
The best thing about pawnbrokers is that they give people like you an opportunity to sell their unwanted jewellery without paying any extra fees or commissions on top of what our valuations already cover.
At Cash Your Gold Brisbane, we provide easy options for selling your unwanted gold to us without going through multiple steps. Simply bring your unwanted items to our branch in Brisbane and we will give you an instant free valuation. And you can then decide to sell your gold to us. And if so, you can walk out with instant cash in hand!
Online Stores or Buyers
Selling online can be an excellent way of selling unwanted old jewellery as there are many websites that specialise in this type of transaction and provide quick and easy service without having to deal with any face-to-face contact with potential buyers.
eBay, Gumtree or Facebook Market Place
Selling on an eBay auction house is a good option if you don’t want to go through the hassle of personally meeting with buyers. You can do it from the comfort of your home and start earning money instantly without any investment.
However, there are certain downsides as well. For example, you have to pay eBay fees for every transaction and there is no guarantee that someone will buy your item from this online auction house. Also, since it’s a marketplace where everyone has an equal opportunity to sell their items, other sellers could offer better prices than yours, which means they might get more interest than yours.
If you don’t want to have any face-to-face transactions of selling gold and want an easier way than eBay, then selling to online gold dealers is the best option!
Some gold buyers in Australia, like Cash Your Gold, have a mail-in service where you send the gold to us and we’ll evaluate it and provide the best compensation to you through direct bank transfer. There are no hidden fees through these fees and you can sell your jewellery at live spot prices.
Because the gold price fluctuates daily based on the commodity value of this precious metal, all buyers will offer slightly different prices for your gold at any given moment. If your highest priority is getting paid as soon as possible, you may want to sell to a local buyer instead of shipping your valuables to an online company.
But if getting top dollar is more important than receiving cash right away, it pays to wait and sell to the best online buyers.
The Process of Selling Gold and Silver Items
The first step is to do some research. You’ll want to know what the going rate is for jewellery and who’s buying it and how much they’re offering. You can try calling around and asking local pawn shops, or check online resources to give you an idea of how much you can get.
Get a Free Estimate
This is where you’ll get an idea of how much your gold is worth so that you don’t over or undersell it! You can also use this free estimate to find a few gold buyers who can buy your jewellery at a higher price.
Many offer free online estimates, while others might require you to bring the gold into their store so that they can see it in person before giving an estimate. It’s essential when speaking with potential buyers about their pricing policies because this will determine how much money you’ll receive when selling.
Choose a Buyer
There are many places where you can sell unwanted gold, but not all give you good prices for your valuables. When choosing a gold buyer, make sure they have experience in the industry and offer high-quality services at fair prices to get maximum value for your precious metals. Also, look for companies that offer fast service at no extra cost so that you won’t have to wait around for weeks on end before receiving payment.
Make sure to first inquire about the reputation and reliability of the gold buyer and online reviews before you sell your jewellery. You’ll want someone who knows what they’re doing so you get the best price for your items.
Based on the estimated rates you get as well as the above factors, you can choose one.
Sell & Get Cash!
Once you’ve chosen a buyer, you can visit their store physically or mail your jewellery to the store online. If you visit a store, you can get instant cash in hand while you’ll need to wait for the money transfer to your bank account if you choose the mail-in service.
Sell Jewellery to Cash Your Gold at Current Market Rates
Cash Your Gold is one of the oldest gold buyers in Australia, with over 3 decades of experience. We buy various gold, silver, and diamond jewellery, including scrap gold, broken jewellery, loose diamonds, or other precious metals.
You are guaranteed to get cash for your items or opt for an instant transfer to your bank account.
There is no need to wait for a buyer or risk getting less than the item’s value.
The process is quick and easy — there are no long-winding processes or hidden fees, and you get a better price than the other gold buyers in Australia.
We have been in business for over 30 years and know what we are doing and offer only the current market value of gold when we’re buying it.
So if you have any old engagement rings, necklaces, earrings or other items like loose diamonds or scrap gold, sell gold to us at a great price incomparable to no other.