Selling unwanted gold jewelry may be a shortcut to earn extra cash, but getting the best deal is not always easy. There are many professional cash-for-gold companies to choose from, but these companies may not give you the best price. Selling gold to jewelers or online trading sites such as eBay may take more time, but you may get more money. Take a look at these suggestions to make sure you get the best deal when selling gold jewelry.

 When is the best time to sell gold

The law of supply and demand shows that if more people want to invest in a commodity, its price will rise. When the economic situation is unstable, the demand for gold tends to be greater because it is seen as a safer investment than other forms of investment such as stocks. Therefore, it is worth considering the economic situation when selling gold. If you think more difficult times are coming, it may be worth waiting for the price of gold to rise. However, like any investment, it is very difficult to accurately predict the rise and fall of future value.

Don’t rush to contact cash-for-gold companies

Using professional cash for gold companies may seem convenient, but previous research has shown that they are unlikely to bring you the most money for your precious metals. We found that cash-for-gold companies offer lower prices than jewelers, pawn shops and online gold buying services. Before selling your gold, compare prices as much as possible.

Estimate the value of your gold jewelry correctly

Check the characteristics of the jewelry and weigh the jewelry. This will help you evaluate how much your item might be worth based on the current gold price. You can also get an estimate from the jeweler to give you a clear idea of the value of your gold jewelry. If you want to send your project to a cash-for-gold company, always get an estimate first. If you think this is a bad deal, you can ask for a better price or ask for the return of your gold jewelry.

Bargain before selling gold jewelries

If you think you have enough gold jewelries, don’t be afraid to bargain. Check how many jewelry stores there are in your area. If there are several companies competing for business, you will find that they are more willing to bargain for gold you don’t want, especially when you are selling a lot of jewelry. Collect quotes from several jewelers and compare them with each other. Take a look at our bargaining techniques to increase the chances of successful negotiations.

Selling gold jewelry online

If there are few jewelry stores where you live, or you can’t find the right price to sell your gold jewelries on the street, you can try to sell your items on websites such as eBay. Because you may be selling an expensive item, this will help build a reasonable level of positive feedback from other website users so that buyers know you are trustworthy. Learn more: Selling goods safely on eBay-how to set up and use an eBay account

Evaluate the value of jewelry as a whole, not just gold

Gold buyers are usually only interested in the value of the metal from which the gold item is made, not the value of any gems or craftsmanship in it. If you give away gem-set rings, earrings and necklaces, cash-for-goldcompanies may remove the gems from the gold jewelry and discard them, lest you realize their value. Similarly, well-preserved high-end fashion jewelry or branded jewelry may be more valuable than you melt them and sell them. Other items, such as old coins, medals, and souvenirs, may be more valuable than what you get from  cash-for-gold companies or even non-professional jewelers. If you suspect that any item you own is more valuable than the gold in it, it may be of interest to antiques or collectors. Let them get a proper evaluation and valuation before selling them.

Compare the reputation of cash-for-gold companies

If you decide to use cash for gold companies, investigate their reputation online. This may help flag up companies that you would rather avoid. Enter the name of a specific cash-for-gold company in the search engine and look for reviews or comments on its services. Be sure to ignore paid advertising. Forums and blogs are also good places to find in-depth comments.