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

Should You Sell Your Old Gold Now?

Should You Sell Your Old Gold Now?

Gold prices have broken yet another record with gold prices crashing through the $1,300 an ounce barrier.  Gold has been rising for the last couple of years because of the severe economic recession and though we may not officially be in recession now, the effects are still very much with us.

Gold rises during economic hard times because money loses its relative value and the stock markets tend to take a nose dive and suffer from increased volatility.  Big investors and national governments don’t like volatility and when they see deteriorating markets, they tend to move their capital out of the stock markets and into safe investments.  Of all the alternative “safe” investments, gold is the one prized above all others, and this is why gold prices rise when the economy and stock markets take a tumble.
What does this mean to you with some old gold items and jewelry?

First of all, it means you will be getting the top price for your gold than waiting until the economy turns around.  As soon as the economy starts to recover the value of gold will fall dramatically as investors return to the stock markets; investors sell their gold holdings to fund their purchase of shares, this means the supply of gold starts to exceed demand and this causes the price to drop, and typically, the fall in value is very dramatic.

At $1,300 per ounce, the value of gold is at an all time high, so now is the best time ever for you to dispose of your old gold items because you will get the most money ever for them.

We have mentioned the poor state of the economy, and it is typical for many to be struggling with everyday bills and paying off debts.  It doesn’t necessary need to have a bad economy to make selling your old gold a very sensible proposition; if you are carrying credit card debts and other loan repayments, typically charging excessive interest charges and fees, it makes perfect financial sense to sell old gold which has no sensible or practical value and repay your debts to improve your financial position.

From a purely financial perspective, the answer to the question is a resounding, “Yes!”
Today, it has never been easier to arrange for the best price for your old gold items because of the number of metal dealers and jewelers who are actively trading in old gold items.  The internet and traditional media are full of advertisements exhorting you to contact them to arrange a price and sell your gold, and with reputable dealers the process is smooth and easy.

Typically, you contact the dealer or trader (metal merchants are best because they refine the gold) and they will arrange to collect your items.  This is done by a registered courier and is fully insured in case of loss.  Once they are received by the dealer the gold is appraised (but note the price you are offered will be for the metal component and not the stones such as diamonds or sapphires).  Once the gold is appraised a formal offer will be sent to you, usually by telephone or email and you decide if you want to accept the price offered or have your pieces returned to you.  Accepting the offer will usually result in a check or payment to your bank within the week and the entire process should take only a few days, two weeks at the most.

Tags: Old Gold, Sell Gold, Sell Jewelry