Are you looking to sell your gold for investment purposes? There are many things you need to know and consider. Selling gold is not as easy and fast as going to a gold party, having your jewellery appraised, and getting paid in cash on the spot. You need to learn and understand the ways to cash in.
With every good deal comes a case of buyers. As a beginner, you should be alert! You should do your homework before selling your gold and other valuable jewellery items at local jewellery stores or independent buyers.
While gold parties may be a fun and convenient way to turn your gold into cash, experts suggest that they may not provide you with the best deal. Here are some helpful tips to make sure you are getting the best value for your gold:
1. Learn and Understand the Scales
One of the factors that determine the value of gold is its weight. Keep in mind that gold buyers in Brisbane use various forms of measurement to identify the weight of your items. Ask them about the process and familiarise it to guide you along your gold investment journey.
Moreover, you should be alert all the time. If the gold buyer weighs your gold by the pennyweight, you should not accept payment by the gram. Do not let sneaky buyers get away with you by paying you less for more weight of gold.
2. Identify the Karats of Your Items
Pure gold is too soft to be practically used. It is ideal to combine it with other metals to create durability and colour. Some shops may require that all jewellery sold in their store should describe a karat fineness of the alloy. One karat is equivalent to 1/24 of pure gold by weight. So, if your item is 14 karats, it means that it is 14 parts gold and 10 parts other metals.
Take note, if the jewellery is less than 10 karats, it is illegal to label them “gold jewellery.” It is important to know the karats of your gold, so you can make an informed decision on the scrap value of your items.
3. Separate the Karats
Do not let the buyer weigh together jewellery of different karat value. If they insist to weigh them all together, they will pay you for the lowest karat value. Remember to separate your jewellery by karat value before selling them.
4. Know the Value of Your Items
To know the value of your gold, silver, and diamond, you can call a local jewellery store or check with an online source. Learn and understand the current market price of your items before selling them. If buyers will sense that you are looking for some quick cash to put in your pocket, they will take advantage of you. They will offer you money for your items that is lower than the actual value.
5. Choose a Qualified Buyer
The best way to get the most of your jewellery items is to choose a reputable gold buyer. Search for some basic information about the business as well as comments and feedback from previous customers.
When you choose to sell your valuable items at Gold Buyers Brisbane, one of the leading gold buyers in Queensland, you can trust that you will get the most competitive rates in the city.
6. Understand What You Are Selling
Some jewellery items are worth selling as they are, while others have to be meted down to get more value. If you have a gold necklace or bracelet designed by a well-known jewellery maker, it may have a value more than the gold it is made of to some buyers.
7. Keep Record of the Fine Print
Choosing to use a mail-away service will require you to understand the terms and conditions. Make sure that the items you send are insured. Find out how long you will have to wait before you get reimbursed, how long they will keep your gold before melting it down, and how long will it take to turn down an offer.
Do not forget to take photos of your items before sending them. Make sure you have a copy of all relevant paperwork and filings.
8. Shop Around
You do not have to jump at the first offer for your jewellery items. You have the freedom to shop around and compare a few different bids. Make sure you get the best price for your jewellery and have it appraised before selling. The process may require you to shell out a great deal of money, but the worth of your jewellery items is more than its weight when you combine workmanship, artistic value, and embedded gems altogether.
9. Be Realistic
If you go to gold parties hosted by your friends or neighbours, keep in mind that they are more about fun than value. Taking all factors into consideration, sellers at gold parties will likely get between 70 and 80% of the real value of their item.
10. Do Not Forget to Bring Your Important Documents (e.g. I.D.)
Gold buyers will require gold dealers in Brisbane to present government-issued identification. This requirement is designed to protect consumers. Your documents can help the police investigate the sale of stolen property and prevent money laundering.
At Gold Buyers Brisbane, we comply with the rules and regulations, so prepare to show your I.D. when asked.
Turn Your Gold Items into Cash Today!
There you have the things gold dealers in Brisbane need to know before selling any gold items. If you take them into careful consideration, you can get the best value of your items and successfully sell them.
If you want to learn about our quotes and prices, feel free to visit us at 1969 Logan Road, Upper Mt. Gravatt, Qld. Our experts at Gold Buyers Brisbane will determine the purity and weight of your gold items and provide with rates upfront. All you have to do is simply sit and wait for your gold to turn into cash.