Is it a good idea to sell your jewelry? How do you sell a ring, a necklace or earrings? Here are the things to know before selling your precious jewels: the first thing to check is … ♦
The price of gold rises, falls, goes up again. Will it be the right time to sell your jewelry? If you have a gold jewel, before selling it is better to get an idea of the quotation of the yellow metal. But what is the real price? If the jewel is of a great Maison, with diamonds or other precious stones, it is better to have it evaluated by at least three different jewelers: the evaluations can be very different.
If, however, your jewelry is made in large part of gold, the first thing to do is look carefully at the charts of the quotes (but also silver and platinum). The experts can also follow the lists of the New York Spot Gold or London Fix. Which one is better? Depends: the first is a price index mainly for transactions in the United States, while the latter refers to European and international markets. It is not a small detail if you intend to sell an important jewel, because the buyer could make his assessment on the most convenient square for him. Knowing, however, the price of gold serves to get an idea of the price: better not to trust what some operators who buy jewelry by weight explain. Here, then, five tips to sell their golds at best.
1 Identify price changes: if there is an upward surge in gold prices, London Fix is the first to record its growth, so this is the best market for the seller and obviously not for the buyer. We repeat: this applies to jewels that have a certain weight. For a few grams the difference is not much.
2 Learn gold weights and measures: it is essential, because even if buyers use grams as a unit of measure, in reality the value on the international market is set in ounces. And 1 oz is equivalent to 31.1 grams. So, to understand the current price you just have to multiply the value by 1 ounce by 31.1.
3 Check the carats of the jewels: the official price of gold is that of pure metal, at 24 carats. But no modern jewel has 24 carats. The jewels are made of gold combined with other metals, to increase resistance, or simply to lower the price. 14-carat gold means, for example, that only 58.3% of your jewelry is made of gold. The rest can be nickel, silver, copper … So when you go to sell the jewel, it will be calculated not for its total weight, but in that relative to the gold part. Attention, 9-carat jewels are often advertised as gold, but when sold they are not considered as such.
4 Calculate and compare the best price: It is better to measure and accurately weigh jewels before going to any store, to get an idea (on the internet special scales are on sale). Also, keep in mind that those who buy gold do not pay the theoretical price of the list, because they must merge the jewel and, obviously, add its percentage of income, on which the taxes are paid. Basically, if you have calculated well the value of your gold jewel taking into account the percentage present in the alloy (the carats) and its weight, you must remove at least a good 30%.
5 Get the best price: Internet is a good channel for buying jewelry, but not for selling. Some buyers apply discounted rates up to 50% compared to some stores “buy gold”: the same necklace of 14 carats could be estimated at half The jewelers could, however, pay more if they detect a fine craftsmanship, because the jewel it could be transformed and reused.