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Selling Gold Jewelry Tips

Gold prices are soaring nowadays. Selling gold jewelry will fetch you more money than what you had paid for it when you made your purchase. There are many who claim to pay you the present market value for the gold, while the fact is they are acting as a broker. They will pay you a small amount for the gold and resell it for huge profits.

Selling Gold Jewelry Tips

Here are few tips that will help you to be at the right place at the right time and get the best deal while selling gold jewelry.

a)Selling gold jewelry at the pawn shops should be avoided. They are nothing but the middlemen who will resell the same for huge profits.
b)If you have a nice, well crafted jewelry, then selling it at the jewelry store is the right option. And if it is broken or unwanted gold items, they won't offer you much money for it.
c)Selling gold jewelry online is by far the best bet. Their advertising and overhead costs are low and offer higher payout for gold than pawn or jewelry shops.

Selling Gold Coins: Gold coins act as one of the methods of investment. When the gold prices are high, selling it at the right place is not that easy. All the paper work should be in good condition. You should know the gold content in your coin. Finding the right dealer can be tricky; you can go online and find the local dealers in your area and compare the price. You can also visit cash for gold websites that give you best value for the coins.

Selling Gold Bullion: Gold bullion are produced and minted by national governments. Generally, bars yield less returns than gold bullion coins. In countries like Argentina, Austria, Switzerland, you can easily buy and sell these at the major banks. The thumb rule is to find a reputed dealer in your area or find genuine dealers online who have a standard process of buying gold.

Frequently Asked Questions

  1. QUESTION:
    What is the best way to get top dollar when selling antique jewelry (gold, diamond, silver, items)?
    Tips for selling jewelry from an estate.

    • ANSWER:
      There are auction houses that deal mainly with deceased estates. Firstly, you need to have the jewellery valued so as you can present documentation to the auctioneer. A Little money spent on valuation now can bring you big dollars or not. If you go to a normal jeweller, make sure that you stay with the goods, some shonky jewellers replace real stones with paste. Good selling - Kay!

  2. QUESTION:
    Where should I sell my gold jewelry?
    I hear that the best places to sell gold jewelry are brokerage firms or estate jewelry houses. Where should I sell my gold to get the best price? And what are any tips for negotiating the best price when I am selling? Thanks.

    • ANSWER:
      It all depends on what you have. If your jewelry is in nice shape and at least 14kt or 18kt gold, many estate jewelry buyers will express interest and pay a bit better.

      If the jewelry is damaged, or common pieces you still see in chain stores, you might as well sell it for gold weight...and in that case watch the gold markets for a nice gold spike because gold is paid on closing price.

      Also, look into some private jewelry stores. Sometimes they do consignment for a percentage and you could maximize your dollar out of that.

      Hope that helps...

  3. QUESTION:
    How would I go about selling my jewelry?
    I know it seems simple enough, but I feel like I'm going to get ripped off no matter what I do. I have a white gold chain and pendant with diamonds in it which I paid 00 for. Basically what I'm looking for is some tips/advice on the best way to go about selling it, and getting fair value in return. There's nothing wrong with it, I just feel like I'm a little too old to be wearing a chain anymore.

    • ANSWER:
      For something that valuable I would go see a jeweler. You could use ebay or trademe, but I would suggest that you go and get it valued with a certificate to authenticate its value. It may cost you a little but would more likely insure you get what its worth. At the end of the day, be prepared to not get what you paid for it.

  4. QUESTION:
    Where's the best place to sell gold items?
    Gold's about to go up in prices again. But pawn shops hardly make it worth your while. Anyone out there have any tips for venues that buy gold items at reasonable prices? I prefer traditional brick & mortar stores rather than online. Online or mail-in companies require you to have faith that if you mail them your items, you'll get compensation.
    -I'm referring to jewelry items.
    -I reside in New York City.
    P.S. You can google them and find websites, but I'm hoping to find a REPUTABLE company. Thanks...

    • ANSWER:
      Jewelry stores would be your best bet.

      I googled "selling gold jewelry nyc" (without the quotes). The list of ads down the right side had a few NYC jewelers who buy gold items.

  5. QUESTION:
    How much can I sell this piece of jewelry?
    It is a 14kt yellow gold 18" necklace chain with one diamond and one emerald? hanging on the bottom. On the back of diamond and emerald. it has "10 kt cv or cu" but I know its 14kt because it says that engraved on the gold chain, it was never used. The emerald is a little smaller than the size of a pencil eraser (on the opposite end of the writing part), the diamond is about the size of a tip of a dull pencil. How much would I be able to sell it for?

    • ANSWER:
      depends on the color, clarity, cut, and caretweight of the diamond. your best bet is to take it to an actual jewlery store to get it apraised.

  6. QUESTION:
    When to come up with a business name and other small business tips, please?
    My ultimate goal is to open a successful jewelry/jewelry repair shop. I don't have money or the 'know how' to get started but I've educated myself quite a bit. I have a plan to reach my ending goal. It will take time but I'm positive I can do it.

    1) First I want to get started finding merchandise at thrift stores or flea markets and selling them online. This will teach me how to keep track of income, build my skill in financing, and I can start a website. With the extra money I gain will start step two, jewelry making.

    2) Making beaded jewelry or wire jewelry I can build my creativity for different styles. This will also help me determine if my ending goal is only a phase or hobby to look forward to rather than an actual goal that will end up as my career. After some time doing this I would have also build up an inventory for my next step, setting up shop.

    3) Now I can really get to practice! I plan on setting up a stand or small table at the local flea market. If I decide to reach this step it will be the most helpful to my ending goal. I will learn the basics of running an actual business, keeping up with inventory, calculating profit from income vs expenses and loss, and organization. This extra money will help me buy the tools I'll need for making and buying fine jewelry such as gold, silver, and gemstones.

    4) Actually going through the process of opening and running an actual business. With the previous steps I would be saving as much money as I can to buy or start renting a shop for my store.

    My question is when would be a good time to start advertising the name of my shop? I already have a name in mind, but it still needs work.

    And does anybody out there have any positive criticism for my plan so I can do this as flawless as possible? (There will be many flaws along the way, I know)

    There's also a step missing somewhere. I need practice repairing jewelry before I actually start the repair. Does anybody have any tips to help me with this? I'm already collecting broken gold and such from family and friends so I can practice repairs once I get the tools, is there anything else I could do to practice with?

    Last question is what's the best way to look for classes to take in this particular field of career? I'm in Houston, Texas and would like to find hands on training for jewelry making/repairs.

    • ANSWER:
      Sonya, you're taking this in a step-by-step manner, so you're on the right path. The main problem that I see is you're missing the experience - in the marketplace and in the shop.

      If you could go to work in a jewelry shop, this would help you get proper experience in all aspects of the trade. It might take years, but you'll get a better feel for what it takes to run a business by being there helping someone else run their business.

      Your idea of online selling is good. It's a no-cost/low-cost way to start up and get your feet wet. You can do this while you gain experience.

      The time to advertise your company name (at no cost) is now. Get known by others with a company name that is short, memorable, descriptive and easy to spell. This will be your brand, whether on the web, in your own shop, or simply doing this as a neighborhood sideline business.

      The key is to invest very little until you know it's the time to "roll it out" in a big way. You already have a belief in yourself and a plan. I suggest you need a mentor, and you need to "get into the conversation" with others in the business. Take a look at this article for an overview of these four key needs; two of which you already have met: http://www.selfgrowth.com/articles/success_is_yours_if_you_believe_in_yourself.html

      What you need to focus on is identifying the unknowns and getting experience dealing with them. You have some of them identified already. The problem is that some of the unknowns can't be known until you run into them. It's hard to learn everything by study. Sometimes it requires doing it.

      For example, how do you deal with customer demand, complaints, non-payments? Also, how much do you charge in order to make reasonable profit when re-selling, making jewelry yourself, spending time repairing jewelry?

      Get teamed up with someone that has good experience and learn from the best that you can find. Learning by doing is one sure way to get good experience at what you hope will be a career field.

  7. QUESTION:
    Help! My fish Keeps running away!!?
    I bought a fish from this guy in the street selling jewelry so i bought a gold fish..but it keeps running away i but it inside a bigger bowl and got it a new leash but it still manages to jump out and run away, yesterday i had to chase it all the way down the block..it was embarrassing chasing a fish down the street...also any tips on how to keep my cat in one place?..it keeps on teleporting all over the house

    • ANSWER:
      Have you tried rehab? That might help.

  8. QUESTION:
    A friend in the small town I live in is offering me & a few others to 'take over operations' for his small?
    business. It is a shop that sells "Silver, Gold, Beads, Jewelry, Textiles & Folk Art from". He has asked I incorporate a travel agency (I am educated to be an agent, simply have not gone into business since graduating). He wants to travel & use me as a home base for when he is gone. What type of questions/answers do I need to find to determine if this is a good investment of my time? I understand that's a pretty broad question, but he sprung this on me & I'm feeling suddenly overwhelmed with the thought of taking over. He wants me to run the business with a 2 or 3 others, who will assist me with things such as internet sales & the food bar that he has recently installed. I have managerial experience....education in business operations....travel....I am simply stunned & can't focus on where to start organizing myself. Any tips??????

    • ANSWER:
      First and foremost you have to find out what the financial prospects are for you in this enterprise. Is he offering a salary? Is he offering partial ownership? A Partnership? An Hourly wage?
      Then you need to decide if the work is worth the prospective payout. If this is a partnership or you will become part owner of the business, you need to know if the travel he wants to do is business related or personal. If it is personal, you need to know that the company won't be paying the bills. That impacts your interest in the company. If the travel is for business, you need to know what the benefit is to the company related to this travel. Essentially, he has to justify the expense with expected and reasonably attainable increases in revenue.
      Ask him to take a look at his books for the last 3 years. Look for trends. Is he gaining or losing sales? Are the sales flat, or the same now as 3 years ago?
      What authority wil you have to make operational changes that you feel are in the best interest of the company?
      These are just a few of the questions that immediately come to mind. Take some time and think about it. It may be a great opportunity, it may not. Do your homework and ask questions before you jump into something you are obviously not 100% sure of.
      Good Luck!!

  9. QUESTION:
    How much can I sell this piece of jewelry?
    It is a 14kt yellow gold 18" necklace chain with one diamond and one emerald? hanging on the bottom. On the back of diamond and emerald. it has "10 kt cv or cu" but I know its 14kt because it says that engraved on the gold chain, it was never used. The emerald is a little smaller than the size of a pencil eraser (on the opposite end of the writing part), the diamond is about the size of a tip of a dull pencil. How much would I be able to sell it for?

    • ANSWER:
      Because of the huge markup on jewellery, your necklace will be worth much less than what it cost to buy. Why not take it to a pawn shop and see what they offer. Once you've been told, double that amount. That would be what they would sell it for and perhaps what you can sell it for yourself.

  10. QUESTION:
    How much can I sell this piece of jewelry?
    It is a 14kt yellow gold 18" necklace chain with one diamond and one emerald? hanging on the bottom. On the back of diamond and emerald. it has "10 kt cv or cu" but I know its 14kt because it says that engraved on the gold chain, it was never used. The emerald is a little smaller than the size of a pencil eraser (on the opposite end of the writing part), the diamond is about the size of a tip of a dull pencil. How much would I be able to sell it for?

    • ANSWER:
      yes


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