For decades, the sale of gold has been on the rise. More and more people are looking to sell their unwanted or broken gold for cash.
It’s no secret that gold commands a high price on the market — this means that selling your unwanted gold and silver items can net you a handsome profit quickly.
If you have any unwanted gold lying around or want to sell it to make money, you should consider selling it to gold buyers in Brisbane.
But the big question is, how exactly can you go about selling your gold?
Let’s find out.
How Can You Sell Gold?
You can sell gold for cash and receive a fair price and the exact process is pretty simple.
Your gold will be weighed in front of you, and the gold dealer will offer a price according to its weight and purity. Alternatively, your gold could be assessed by a jeweller or pawnbroker — meaning that you’ll need to wait for an assessment before having the chance to accept an offer.
You’re likely to get a better price from the leading gold buyers, who specialise in bulk purchases and value your gold based on its weight — not its aesthetic qualities.
Gold buyers are people or companies that deal in purchasing and selling gold. They are experts in gold trading and have a wealth of knowledge about the industry. Since they buy and sell gold on an everyday basis, they can give you the best price for your gold pieces, unlike pawn shops and other dealers who do not necessarily have as much experience dealing with gold sellers.
There are several things you need to know before you sell gold and this blog will cover, in detail, everything you need to know.
What Factors Should You Consider When You Sell Gold?
When you’re looking to sell your gold jewellery, it can be tricky to know where to go. There are several options for gold buyers in Brisbane, and each has its pros and cons. You’ll want the best price for your gold, but you’ll also want to ensure you don’t get taken advantage of or sold short.
First of all, we need to know how the gold buyers appraise your gold.
Cash for gold buyers in Brisbane will typically weigh your gold pieces on an industrial scale; then, they will check the quality of the metals — this is usually done with an acid test. Finally, they will offer you a price based on the current market value, margins and many other factors.
Understanding these factors will allow you to maximise the sale value of your gold and get the money back that you deserve. Let’s look at them in detail:
Market Value of Gold
Gold prices constantly fluctuate due to various factors like supply & demand and government policies. The current market price of gold may be higher or lower than what you paid for it originally, so it is important to check how much money you will get for your items before deciding to sell them.
The market value of gold is a critical factor that influences the price offered by a buyer. When you approach a gold dealer, they will check the current market rates and offer a price accordingly. This is why it is essential to check the current rates before deciding on a gold dealer.
The price offered by gold buyers Brisbane also varies according to their margins and other operating costs.
Purity of the Gold
Gold is usually mixed with a few other metals (usually copper and silver) to make it harder and more durable. The amount of gold decides the purity of the metal, which is denoted by the karat.
And each piece of gold jewellery has a number stamped on it that indicates its purity. The number is a percentage representing the amount of pure gold in your item.
Gold buyers consider this purity, or the karat of the metal, when buying it. The purer the metal, the more valuable it is for them. Your jewellery may be 10k, 14k, 18k or 24k gold, depending on its purity. So the jewellery of 18k gold is worth more than the same weight of jewellery with 10k gold.
Condition of the Gold
Gold is a very malleable metal, so it’s easy to get scratched up or dented when worn. Gold buyers will also assess the condition of your jewellery. Is there any wear and tear? Have any stones fallen out? Are there any dents or scratches?
These factors will determine what price they offer you.
Type of the Gold
There are various forms of gold available. It can be gold jewellery, gold coins, gold bullion, or other precious metals like silver bullion, silver jewellery, silver coins, silver bars, etc. So the gold buyers Brisbane will also consider the type of gold and silver items you have before giving you an estimate.
How Can You Choose the Best Brisbane Gold Buyers?
Brisbane has many reputable, established and trusted gold buyers who have built their business on providing customers with a secure and easy way to sell their unwanted or old gold. With so many options available, you must take time to research each gold dealer before making your final decision, as not all companies offer the same excellent service.
1. Select a Licensed and Insured Company
The first thing to consider while choosing a gold dealer is whether the company is licensed and insured or not. A licensed firm will give you genuine quotes and the best deal.
Make sure the company is registered under the Fair Trading Act.
2. Check the Company History
While choosing a cash for gold buyers Brisbane, make sure that you select an experienced company. The expert should have ample knowledge about precious metals and coins. You can also check for customer reviews online to know more about the company’s reputation and services offered. You can also talk to their previous customers or visit their business premises for more information about them.
3. Research About Their Skills and Rates
The price of gold is at an all-time high and this means you can get top dollar for your gold when you sell it to a trusted and experienced gold buyer. Experienced and leading gold buyers will have the knowledge and skill to determine the quality of your gold and give you a fair price that reflects the true value of your item.
4. Ask for Free Quotes
Reputed Brisbane gold buyers offer free quotes over the phone or through their website. Make sure that you get three to four quotes from different companies before finalising one.
Many gold dealers even provide a free appraisal of your gold when you visit them in the store and get a better estimate of how much you can get. This is a no-obligation quote that will help you decide the best gold buyer.
5. Ask About the Mode of Payment
You won’t have to wait long to be paid after taking your unwanted gold jewellery. Because Brisbane gold buyers deal with precious metals every day, they know how to determine their value quickly and accurately.
Most Brisbane gold buyers offer cash on the spot in exchange for your gold or silver. So based on your preferred mode of payments, enquire with the gold dealers about how you want to get paid. Some also provide direct bank transfers to make it easier for you.
Sell Silver and Gold Bullion to Us
Selling gold is a great way to make some quick cash. You can get money quickly and easily by selling your unwanted or broken gold jewellery. Whether you have unwanted gifts, broken pieces of jewellery or just want to sell your old gold, we’ll pay competitive prices.
At Cash Your Gold, we have the best gold appraisers and gold dealers in Brisbane. We offer live market rates in exchange for your gold, silver, or other precious metal. Reach out to us now at 07 49 390 234 to get a free quote or visit our store in Chermside, Brisbane.
