Where can you sell your gold jewelry?
If you’re looking to sell your gold jewelry for some easy cash there are three options most people have to choose from. Deciding which one is best for you will depend on convenience, order processing speed, and how much money you are expecting to get back. All right, so let’s get started!
Selling Gold at a Pawn Shop
The least likely place to sell your gold for cash is a pawn shop. Pawn shops are known to pay bottom dollar for jewelry and will usually pressure the seller to take their offer by telling them that they won’t get more for the jewelry at any other place. This is usually a deceitful tactic used to force the disadvantaged customer into selling. Although this is probably not the best choice, if you must go to a pawn shop here are some tips to help you out.
- Never go alone – It’s easy for pawn shops to take advantage of an individual rather than two people. Bringing along a friend or family member can help you decide when it’s time to walk away. If you’re being pressured to make an unfair sale your friend or family member can pull you away before it’s too late.
- Bring along a purchase receipt – Although this normally won’t get you exactly retail value for your items, a purchase receipt can validate your initial asking amount. From there however, you’re on your own.
- Compare similar jewelry prices in their display cases - Look for a similar item of quality and note the sale price. A good rule of thumb is to expect their starting offer to be 2/3 the value of the sale price in the display case or less. At that point you should try to up the amount and see if you can find an acceptable offer. If you still feel uncomfortable with the offer, your friend should be telling you it’s time to go! You did bring a friend right?
It’s quite obvious that going to a pawn shop is not the best options for selling your gold items. They can be crowded, unpleasant, located in a bad neighborhood, or make you feel completely uncomfortable. This brings us to a more pleasant option.
Selling Gold to a Jewelry Store
Jewelry stores on average will make you a reasonable offer, and most of the time they are in a much more comfortable setting. Your items will more than likely be appraised professionally so don’t expect to negotiate much. The initial offer normally stands and since they have access to mounds of inventory they probably won’t be disappointed if you walk away. However, we are talking about gold so if you have several pieces of fine jewelry that you would not consider “scrap gold” you could make a good profit at a jewelry store.
Selling Gold to a Cash for Gold Buyer
The last option is to sell your gold to a Cash for Gold company using a prepaid “Gold Kit”. This is probably the most convenient method of selling gold. Here is how the process works. Normally you will visit their website and request a FREE “Gold Kit” to be sent to you directly in the mail.
Your gold kit will contain more or less the following items:
- An introduction pamphlet with a company overview
- Instructions on how to inventory and mail your items
- A prepaid mailing label or FedEx envelope
- A protective jewelry container or a secure puncture proof sealable bag
Depending on the mailing method you chose you may be able track your package online as it travels to the Cash for Gold facility. Once your items have have arrived safely they will be inventoried and appraised. The exact processing time varies at each company. Some companies process your items within 24 hours while others can take up to 7 days. If you need money fast make sure you know how long the processing time will be, otherwise you could be waiting for up to a week!
The final step is to accept or decline their offer. Some companies will email you their offer as a convenience while others prefer to conduct the sale exclusivly over the phone. One tip that you might want to remember is that almost all Cash for Gold companies have a “Save the Sale” strategy that the customer service representative will follow. Normally if you decline the first offer they will raise the initial amount by 10-15%. In some instances (especially if you send 24 karat gold pieces) they will increase the offer up to 20% just to get you to accept. If you do finally accept, you can choose to be paid overnight by direct deposit, check, or even Pay Pal.
If you decided not to sell your scrap gold items almost all of the Cash for Gold companies have a 72 hour money back guarantee. If you decline within the allowed time they will mail your items back to you at no charge. However, make sure you read the terms and conditions of their money back guarantee before you send them your gold jewelry.
I hope this article has helped you along the way to selling your gold jewelry. Just remember to take your time and research several companies before you sell. For those of you interested in selling your gold jewelry online using a Cash for Gold service, please visit GoldVox.com before you sell. They provide consumer reviews, customer service ratings, and BBB information that can help you find the best cash for gold companies around.
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Other variant is possible also
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Can anybody suggest a good forum where people buy and sell gold privately?
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