Tips for Selling Old Jewelry
Thursday, 22. October 2009
Gold and precious metal prices are hitting all-time price highs while the economy is suffering from the worst recession in over 60 years! The reason why gold and other precious metals enjoy price rises because investors understand that gold is what governments around the world rely on in order to back their currencies – now you know why Fort Knox has all that gold bullion stored there – it provides the value behind the dollar bills in your wallet!
Selling old jewelry is highly popular right now because not only are sellers getting a good price, they are very often in a personal situation where they need to make some extra money to pay off bills or debts when they are getting by on a tight budget because of the economy.
First of all, try to deal direct with a gold refiner because that way you are not dealing with any middlemen who are going to be taking a slice of your potential profits. If you come across an operation which does not display a daily gold or precious metal price then simply avoid dealing with them – gold, silver and platinum prices will be displayed for each day for set weight of the metal and what purity level. Remember, you may have a small piece of metal which is highly pure and this will command a better price than a larger but less pure metal – it is not simply weight that counts but how pure the pieces are.
Take care when you are selling jewelry which has precious stones set into it – gold buyers are usually only going to give you a price for the metal and are not going to pay for the stones themselves. The stones in your jewelry will have value in their own right and particularly if they are real – diamonds, emeralds, sapphires for instance – but if you agree a price based on weight of the metal and send the pieces off to the dealer, they get the stones and you get nothing for them. Remove all the stones from your pieces and arrange to sell them separately or get a price from the dealer you are selling the metal to.
You should also take steps to compare the price you are offered – again this is where the displayed prices comes in to play – and you ought to compare and contrast prices being offered. Do not be put off by claims your pieces are drab looking or not the type of style that is popular – these pieces are going to be melted down and turned into ingots for re-working as jewelry or resale for other purposes – so what they look like right now is simply not a factor in determining the fair price you ought to receive for your items.
It is quite rare for a seller to physically drop items off into the dealer premises – usually a secure courier or mailing service is provided for you to send the pieces with. It is vital that you only use a dealer service which provides a secure and insured courier service with a defined policy for claims in the event of a loss. A reputable dealer will have a system in place to notify you of when your pieces will be collected and when they arrive at the refinery – and you ought to be getting a price offer within 24 hours of receipt at their end too. In short – the deal should all be set up to finish and complete smoothly and safely with a check in your hands very quickly after agreement of the price.
The best online resource to sell jewelry or sell silver can be found at www.refinity.com