Selling gold has always been a convenient method of gaining quick cash. It comes to no surprise that the pressures of an economic instability alongside the price of gold has created a magnet of business opportunities. What was once a relatively specialized trade has now expanded and commercialized to a world wide trading centre that has helped build Cash-for-Gold companies and has accelerated the internets business platform.
Here are a few tips to making sure that you are getting the best out of your gold.
Know Your Gold
Research the value of your gold by looking for hallmark markings. This will help access the designer and the age of your item. This could make a significant difference to the value as some jewellery makers are in greater demand and with some buyers willing to pay a substantial amount. As gold is too soft, other metals have to be mixed into the concoction to create strength, durability and colour. Finding the karat of your item, therefore, is paramount to determining the value of gold as it establishes how much gold was used.
Using the internet, especially Ebay, can be a convenient method for some to sell any unwanted gold items. Although, it can be a time consuming exercise to set up an account and a selling page for each item, Ebay offers an advantage that many competitors cannot match, their high volume of international viewers. Ebay’s foot traffic means there is a likely chance potential buyers are willing to make a bid. In addition, Ebay provides users the ability to place reservations on their items or simply have a non negotiable buying price to ensure that sellers are receiving the most of their items.
Do not settle for the first offer. Shop around your local area and research how much different companies and jewellery stores are willing to buy your item. This will help determine its selling value and who is willing to offer the most for your gold. Additionally, do not be afraid to haggle or negotiate if you believe you are being undervalued. This trade allows you the opportunity to make the most of your item.
With so many cash-for-gold companies on the high street and their miniature stands popping up in-between market stalls, some sellers may consider this as an easy, convenient way to sell gold, however, be wary of their reputation and conduct. A quick online research about the company through comments, reviews and complaints may determine which company to do business with to help avoid losses and hassle. In some cases, cash-for-gold companies offer a lower value for your item than jewellery shops, pawn brokers and online buyers.