Mistakes to Avoid as you Sell Gold Jewelry, Lehigh Valley PA

by | Jul 20, 2012 | Jewelry

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As the gold prices are ever increasing, there is no better way to make extra money other than selling gold jewelry online. People who sell gold jewelry, Lehigh Valley PA may end up losing a couple of dollars due to some common mistakes. As a rule of thumb, never rush into selling gold jewelry. Always take your time to be assured of a great deal.

The most common mistake that many people make when they go to sell gold jewelry is failing to determine the worth of their gold. Knowing the worth of your gold jewelry is important as it helps you to establish a baseline of the prices that you can accept or decline. You might never be able to get the exact amount that is listed in financial reports for your weight of gold but you must get at least 70% of that price. Simply carry your gold jewelry to a reputable jewelry store and ask for an estimate. Ask them to weigh the item for you then you can go ahead and calculate the price of the item per ounce.

Additionally, be very careful where you sell gold jewelry. There are those dealers who will offer you a very low price due to a number of reasons. For instance, there are dealers who simply want to maximize on their own profits. They do this by giving you a very low price so that when they resell the gold to a refiner they will still make good profit. In fact, you can get the best deals if you sell gold jewelry to dealers who have their own refineries therefore they do not have to consider the cost of paying a refiner brokerage fees.

Never sell gold jewelry to the first buyer you come across. You must always perform adequate research by shopping around before you settle for any buyer. Notably, prices offered for gold jewelry can vary significantly. If you go through a number of websites, you will see a list of current rates displayed. Always compare these bearing in mind the company’s reputation by going through reviews. Before you send your gold jewelry to that buyer, make sure you are certain about their reputation
Avoid selling gold to middlemen. If you sell gold jewelry, Lehigh Valley PA to a middleman, you might get a very low offer. However, if you sell the gold jewelry to refineries, you will get a very lucrative offer since they do not have to pay other people to resell the gold. Basics like ensuring the gold company is credited by the state must also be considered before you sell gold jewelry, Lehigh Valley PA. Avoiding such mistakes will prevent future regrets.




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