In today's economy, selling or trading in your unused gold jewelry and other pieces can be a great way to earn some extra cash. The price of this precious metal is at a record high, which makes it a very profitable time to sell gold. Sellers can find plenty of willing buyers, including kiosks at the mall, supermarket, and online retailers such as eBay. However, knowing the basics of how to sell gold will ensure that you are selling to a reputable buyer who will offer you a fair market value for your pieces. |
The first thing you should do is go to a jewelry store or pawnshop and have your items appraised before you begin looking for a buyer. Having your pieces appraised will give you an estimated worth of each item and provide you with a reference point later on when you're negotiating each item's value. You should also run each buyer through the Better Business Bureau to make sure no complaints have been filed. Additionally, legitimate buyers will always be licensed by the state and are required by law to ask sellers for a form of identification. If your potential buyer fails to do so, it should be a red flag that the buyer is not legitimate and that selling to them puts you at risk of being tricked or shortchanged.
Those who wish to sell gold online should be especially careful. The lack of physical interaction with the buyer in online transactions makes it more difficult to weed out potential fraud or trickery. You should carefully read the fine print and service agreement with online transactions and get to know your online buyer as best as you can. Be on the look out for factors that can affect your profit, such as shipping costs, return costs, and liability insurance. Liability insurance is important because it protects the value of your items if they get broken or lost during the selling process.
Those who wish to sell gold jewelry should keep some additional tips in mind. Before you seek out buyers, you should separate your jewelry by carat and ask more money for higher carat items. That way, you won't fall prey to being paid according to the lowest carat value, which is a common buyer's trick. To figure out the carats and value of the jewelry you have, you should go to a jewelry store and ask one of the jewelers for help.
Need information on how to sell gold? New Orleans residents can click here to find out more:http://www.scpm.com.
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