There are several ways to sell gold, each with its pros and cons. Armed with knowledge, you can be able to make a good decision on where to offer your gold.
This socializing event lets sellers and buyers do their business in a more fun way. Sellers can market their jewelry for greater value while buyers can have more options. However, the big drawback in gold parties is that you’re not sure with the person you’re dealing with. Not all party hosts are gold professionals, which mean your jewelry may not be evaluated equally. Plus, there’s the company cut and a 10% commission to the party host, leaving you with around 50% of what your piece is actually worth.
Jewelry/Coin Shops
The benefits: there’s surely a local jeweler or coin shop nearest you and you’re more likely to receive up to 70% of the gold’s value. More than that, buyers pay more for the jewelry itself, especially if it is finely crafted, than just make an offer based on the scrap value.
Mail-away Operations
Probably the most convenient way to sell gold, mail-away operations let’s you do business in the comforts of your home. These companies send a prepaid envelope where you drop in your jewelry, and they mail a check with the receipt and guarantees to return your gold if you’re not satisfied with the price. It’s easy yet it often comes with a price.
Pawnshops
This shop has its advantage of letting you take the jewelry back if you decided to keep it. However, you must buy it back at a higher price.
Hotel Gold Buys
Aside from buying gold, this business also offers good money if you have collectibles. However, the limited-time engagement may put pressure on the transaction that you’ll rarely receive more than 40% of the gold’s scrap value. More than that, since they are often moving, you have small chances of catching them up if you feel tricked.
