Trusted Gold Buyers

What Happens When I Sell Old Gold Jewelry to an Online Dealer?

What Happens When I Sell Old Gold Jewelry to an Online Dealer?

You’ve made a decision to sell your old gold jewelry, but now you have crossed that hurdle, how do you go about selling them and what is going to happen in practice?

The first thing to remember is that you are in charge – if there is anything happening you are not happy about, simply ask for an explanation and if you are still not happy, keep your gold jewelry and forget the sale.  These are your possessions until you have a check in your bank account, so don’t worry.

The first thing that should happen with an online deal is that the buyer will arrange for an insured courier to come and collect your jewelry. You should not pay for this, as after all if the buyers want the gold that badly they will be prepared to pay for it. Again, do not send your items anywhere unless they are insured and if you are being asked to pay for the courier, then the company you are dealing with is not providing a customer service which every reputable dealer is prepared to offer.

There should be a pre-printed form for you to use to list your gold jewelry for inclusion in the courier packet.

When you have sent the items to the dealer, the company will conduct an appraisal of the old gold jewelry. This will involve assessing the value of the gold content and coming up with a price they are prepared to offer you for your pieces.  You should receive the offer price by email for the fastest service, and the email should also include a form for you to print out and return to the company to signify your formal acceptance.

If you do not accept the price which is offered, you can do several things.  You can haggle with the company by getting on the phone and seeing if a manager will offer you some more money, or you can have your pieces sent back to you to try again with another company.  Bear in mind that the price of gold fluctuates wildly, so if you are being offered a price which is lower than you anticipate you need to check to see if the price of gold has dropped.  Also, bear in mind that the dealer is also looking for a profit in the deal and they do have costs to bear, plus your jewelry will not be 100% gold (even “pure” gold has other metals mixed in for strength).

If you accept the price which is being offered then return the formal acceptance.  The company will then cut a check for the deal and send this to you.  You should have payment in your hands within a week of accepting the price which is offered, and in most cases it takes only a couple of days.

That’s it – you’ve sold your old gold jewelry!

One tip to get the most out of your old gold items is to remember that the gold dealer is only paying for the value in the gold.  If you have a diamond ring, take the ring to a jeweler and have the diamond removed.  The diamond will also possess significant value, but when you sell to a gold dealer they are only paying for the value of the gold and not the diamond!

Tags: Sell Gold, Sell Jewelry, Sell Jewerly

Get the Best Price for Your Old Gold Jewelry

Get the Best Price for Your Old Gold Jewelry

Getting the best price for your old gold items shouldn’t be difficult, because gold is riding at an all time high of $1,400 per ounce.  This is an increase of $350 on the price from a year ago and it seems that gold has finally hit the ceiling on upwards price movements.  Why is gold riding so high?  The answer is simple – because the economy is so bad right now and investors buy it for safety.

If gold is at an all time high, how do you go about getting the very best price for your gold jewelry?

Follow our tips to maximize the value of your gold hoard.

First, shop around with you gold items and get a good feel for the market. You can try looking on eBay for similar items and see what prices they are getting for old jewelry. You can also see what the local jewelers have to say and of course, there are pawn brokers.

Do not forget to check out the gold dealers who buy old gold items.  As the price of gold has now soared, there is a thriving market for old gold jewelry, and usually you will get much more for your old items than from any other source.

When you are looking at selling to a gold dealer, be sure to check the price they are offering for gold.  This is called the “spot price” and this should be on display on their website or by simply making a phone call.  If you cannot find a spot price, you should not do business with the company: typically a spot price is not given because the dealer is either a middleman, looking to buy your gold so they can sell it on immediately for a profit (which means you end up with less), or because they are not a legitimate outfit.

If you have to send your gold jewelry to a company through the mail, insist they provide a fully-insured courier for you to use – at their expense! The same applies if you don’t like the price you have been offered and want your pieces back; again they should be returned to you via an insured courier at no cost to you.  Remember, dealers want your gold because it is so valuable at today’s prices – if they want it so badly, they should be prepared to either pay a reasonable price or pay for you to send your items to them.

There is a major temptation to hold onto old gold jewelry because the price of gold might rise further. The price of gold is extremely volatile, which means that it will rise and fall very fast. The price moves so rapidly that you have to check the spot price on the day you will sell your items to make sure the price hasn’t moved against you – it can drop a $100 in a day!  At the same time, gold is hovering at the $1,400 level and there is little upward motivation because the economy, though weak, is showing signs of recovery.  As soon as there are positive signs of economic revival, the price of gold will plummet as the money is moved back into the stock markets.  Waiting for a higher price could cost you hundreds or thousands of dollars you could get today for your old gold jewelry.

Tags: Sell Gold, Sell Jewelry

The Compelling Case For Selling Your Gold Jewelry Online

The Compelling Case For Selling Your Gold Jewelry Online

Most of us have old gold jewelry locked in storage or tucked away in forgotten corners. There it sits, collecting dust while the price per troy ounce of gold has vaulted to historic levels. Now is the time to consider retrieving your gold bracelets, necklaces, brooches, and even your high school ring. If you’re not wearing them, are they serving a purpose? Are they adding value to your life? If not, you can sell these items online quickly and easily while locking in a high price.

Suppose you feel an attachment to some of your old jewelry items. For example, maybe a wedding ring holds fond memories even though you’re no longer married; perhaps a bracelet was given to you by someone with whom you haven’t spoken in years; or maybe you inherited several pieces, and are uncertain what to do with them. By selling them online, you’ll have an opportunity to start fresh.

Below, we’ll offer four additional reasons that make a compelling case for selling your gold chains, earrings, and even past dental work, online.

#1 – Your Jewelry Is In Disrepair

Damaged watches have outlived their usefulness; a single earring missing its match cannot be worn; twisted chains, bent rings, and broken pendants are similarly useless unless you have them repaired. Unfortunately, repair work is expensive depending on the craftsmanship of the piece and the gold’s softness.

Sell such pieces to an online buyer. The buyer is interested primarily in the gold content rather than each individual piece’s craftsmanship.

#2 – Invest The Money Elsewhere

The stock market has been bouncing up and down over the last twelve months. Even money market funds have seen their share of volatility. With volatility comes opportunity if you’re able to invest at the bottom of a price trend. By contrast, consider the price of gold. Recently, it climbed over $1,260 only to pull back to $1,158. Is there still upside? Many experts consider it a gamble. For this reason, holding onto your gold jewelry may be a risky decision.

#3 – Make A Down Payment On A Home

The real estate market remains sluggish, and there are a lot of bargains across the country. Many homes have lost as much as 50% of their value. This has opened a unique opportunity for those with available funds to purchase a home. The prerequisite? A down payment.

Consider selling your gold rings, chains, and other jewelry to raise the necessary funds. You may find your dust-covered gold items provide an unexpected vehicle to purchasing your first home.

#4 – Raise Needed Funds For An Emergency

When an emergency strikes, funds are often unavailable. For example, your car may need extensive repairs; your son or daughter might require minor surgery; you may need to purchase a new refrigerator, washing machine, or air conditioner. Rather than liquidating your investments or using your credit cards, sell your old jewelry to raise funds.

Your pieces do not need to be made of solid gold in order for a buyer to be interested. As long as they have significant gold content, you can sell them.

Finding A Reputable Buyer Who Will Treat You Fairly

Once you have made the decision to convert your jewelry and scrap gold into cash, you’ll need to find a trustworthy buyer. One of the most important tips to remember is to always work with a refiner. Most buyers are brokers rather than refiners. They are middlemen. While they serve a purpose, they reduce the profit you’ll receive when selling your items. Fortunately, you can bypass them and work directly with a refiner, and thus receive a higher price for your pieces.

It’s impossible to tell where the price of gold will be heading in the near future. The recent pullback is a good reminder that high prices can plummet at any time. Now may be a good opportunity to lock in the current price.

Tags: Sell Gold, Sell Jewelry