With a world that is so rich in diversity and culture, it is a shame that so many focus primarily on what they find familiar and do not branch out to experience different things. But not me. My name is Shane Silverstone and I have an amazing treasure trove of imports from around the world. It is very difficult and expensive to find products that suit my tastes because so many businesses do not know how to find and market exotic products that may actually be a hit domestically. For that reason, I have decided to create a blog dedicated to the exciting world of business and imports!
Selling something valuable has been a dependable way to earn quick cash or fulfill a need for thousands of years. But the process is not without risks. If you have decided to sell gold or jewelry to generate funds quickly for a need, here are three tips to help reduce the risk and receive a fair price.
Do your research and know the spot gold price
When selling gold and precious metals, one of the most costly mistake that sellers make is not taking time to make sure they know what the precious metal is currently selling for. This information, usually called the spot price, changes constantly to reflect the actual activity and expectations in the precious metals market.
While it is important to know that you may not always be offered spot price, due to the condition or other factors, gold and precious metal sellers can use current spot price as a basic guide to help them decide whether a buyer's offer is fair.
Be wary when selling heirlooms or vintage gold jewelry
Sellers who plan to sell gold, silver, and other precious metals that are in the form of jewelry, rare coins, or other heirlooms should carefully consider their selling options. This is because the actual intact piece may be worth much more than the value of the gold or precious metals it contains. A good example of this is a piece of antique jewelry that was designed by a famous designer or one that has some sort of historical value.
Since a reputable gold or precious metals buyer will usually make their offer based on the quality and amount of the metal, sellers who believe their jewelry, coins, or other items may be more valuable than the metal they contain will want to take time to have them independently appraised before selling.
Vet the buyer before agreeing to the sale
While most well-established precious metal and jewelry buyers are trustworthy, it is still important to vet any buyer before making the sale. Look for buyers who have been at the same location for several years and are well regarded in the business community. You may also want to contact any local coin, antiques, or precious metals groups in your area to get recommendations for local gold and jewelry buyers.
To learn more about a gold or jewelry buyer in particular, or get tips on selling your gold, precious metals, or jewelry, seek out a reputable gold buying business in your area.