6 Mistakes to Avoid When Selling Your Gold Jewelry
Do you love wearing jewelry on a daily basis? Collecting jewelry is a favorite pastime for a number of people. There will come a time when you realize that your jewelry box is getting filled with pieces you never wear. Getting money to buy more jewelry is easy when finding the right gold buyers in New York City. With the help of a reputable gold buyer, you will be able to get the fast cash you need to invest in pieces that are more suited for your tastes. There are a number of common mistakes made during the gold selling process and here are some of the ones you need to avoid at all costs.
- Failing to Understand What You Have
A key component in getting a great price for your gold jewelry is understanding what you have. Going into this process without this type of knowledge is a disaster waiting to happen. Getting to know things like what karat the gold in question is and whether or not it has any valuable gemstones on it is essential. You will also need to take a look at the precious metals market to see what gold is trading for. Once you have all of this information, you should have no problem getting a great price for your unwanted gold jewelry.
- Settling for the First Offer You Receive
Shopping around is essential when attempting to get a top-notch price for your gold jewelry. Settling on the first offer you are made will usually result in you losing a lot of money. Going into a variety of different gold buying establishments will help you figure out which one is the right fit for your needs. While this process may be a bit time-consuming, the effort you invest is worth it.
- Expecting Appraisal Price
Most people fail to realize that professional jewelry appraisals are mostly for insurance claims. The price that an appraiser quotes you will not be what a gold buyer will pay you. Instead of going solely on the appraisal price, you will need to lower your expectations a bit. Allowing a few different gold buyers to inspect your items will give you a fair assessment on what the going price will be for your items.
- Not Understanding the Difference Between Gold-Plated and Solid Gold
Having a piece of gold-plated jewelry is not the same thing as a piece of solid gold. Some people get their feelings hurt when they realize the gold plated pieces they have aren’t worth that much money. If the gold buyer does not offer you what you consider a fair deal on your jewelry, then you do not have to take it. In some cases, hanging onto a piece of jewelry with sentimental value will be worth more than the cash price a buyer tries to offer you. Instead of arguing with professionals in this industry, you should just go to a few different buyers to see if they all tell you the same thing regarding the value of your pieces.
- Expecting Like New Prices on Broken or Damaged Jewelry
If you go into this process expecting to get like new prices on your old and broken jewelry, you are in for a rude awakening. While the overall condition of the jewelry will not play a large role in the price you are offered, a gold buyer attempting to resale the pieces may offer less for broken pieces. If the buyer is going to have to put a lot of work into repairing the pieces in question, they will usually offer less.
- Failing to Ask Questions
Not asking questions about the policies a particular gold buyer has can lead to a lot of confusion. Rather than making mistakes due to a lack of knowledge, you will need to read the fine print of any paperwork offered to you by a gold buyer. By doing this, you can avoid losing money due to unknown information.
If you are in the market to sell your unwanted gold jewelry, be sure to contact the team at Truval. They will be able to make the selling of your gold easy and worry-free.