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