Gold jewelry is an investment that you can wear, enjoy and resell when you’re ready to upgrade your collection. Here are our key expert tips on how to sell your gold jewelry.
1. Know the karat of your gold jewelry.
Pure gold is a very soft metal so, to make it more durable for jewelry-making, gold is combined with an alloy metal like silver, nickel, or copper. This ratio of pure gold to alloy metal is the gold’s karat.
Gold jewelry is stamped with an identify number (or hallmark) that connotes the gold purity.
Your gold jewelry’s karat is important as it can greatly influence the resale value of your item—the purer (or the higher the karat) the gold, the more expensive it is. Therefore, know the karat weight of your gold jewelry so you are not undervaluing it.
2. Determine if your gold jewelry is worth more as a finished piece or scrap gold.
Designer, antique or vintage gold jewelry can resale for far more than the gold used to make the piece is worth alone. However, particularly worn pieces or items with a low market value, may earn you more if you scrap it for gold. To know if you should resell your gold jewelry as-is or bring it to a gold buyer, have your item evaluated by a trusted jeweler.
3. Set your asking price based upon the market value—not the retail value.
A major misconception about reselling gold jewelry is the expectation that you will earn back an amount within the ballpark of what you first paid for it. However, the reality is that you most likely will only receive a percentage of your gold jewelry’s original retail value. It is quite rare for gold jewelry to resell at a premium.
It’s important to recognize that your jewelry may be appraised for an amount close to the purchasing cost, but that does not mean you can resell it for that same amount. Most appraisals are used for insurance purposes and factor in the full retail value needed to replace the item.
But when it comes to the gold jewelry’s resale value, that figure is based upon a handful of variables including its condition, rarity, brand, age and the market demand. Essentially your gold jewelry is worth whatever someone will pay for it.
4. Clean your gold jewelry before listing it.
One easy and smart way to make your gold jewelry more attractive to buyers is to restore its lustrous shine. To clean all-gold jewelry, simply dip your jewelry in a bowl of lukewarm water and dish soap and gently clean it with soft bristle toothbrush. For a deeper clean or to clean gold jewelry that also includes precious stones, we suggest bringing it to a jeweler to ensure its safely polished.
Interested in selling your gold jewelry? Curious how much your gold jewelry is worth? Contact our team of appraisers here to learn more about how to resell your collection.
Thank you for all your tips on how to sell your gold jewelry. I have quite a few pieces that I just don’t wear anymore and I have been wondering how I can sell them. I think that is a great idea to have my items evaluated by a trusted jeweler, before I sell them. It would be nice to know exactly how much they are worth. http://www.pomonapawnshop.net/jewelry
Great article! Your point about appraisals is spot on. I’m a gold buyer in Fort Mill, SC (we buy gold and silver jewelry and more). Over the years, many folks have come to us with appraisals. We pay more than other gold buyers, which delights most clients right away, especially those who have shopped around for prices. But our high price doesn’t sparkle the same when a client has based their expectations on the appraisal.
It’s strictly for insurance purposes, so that a piece can be replaced with a new piece, in the event of loss. It doesn’t correlate with the actual value of the precious metal contained in an item.
Lastly, the key to selling your gold jewelry is not necessarily finding a good jeweler. Many jewelers don’t pay any more than a mid-range pawn shop. Instead search for a trustworthy buyer–somebody whom you feel comfortable with, after talking to them personally.
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I just wanted to thank you for explaining some advice for selling gold jewelry. I’m glad you explained that you should try to find out if it’s worth more as is or as scrap. You mentioned that you should have it evaluated first, and I wouldn’t mind knowing how they can help determine it’s worth, like if they have specific tools to assist in this. https://rmcoin.com/product-category/bullion/
To learn more about our authentication process, you can visit our post on the topic here. Or call us at 1-800-690-3736 and a concierge associate can walk you through how we valuate gold jewelry.
It’s great to know how to sell jewelry for a fair amount of money. My wife has a few diamond and gold pieces that we’d like to sell for some extra money. We’ll be sure to research into the market value instead of the retail one. https://www.hullloansystem.com/pawn-diamonds/
I like how you suggest cleaning jewelry before deciding to sell it. I have some gold jewelry that I’d like to get sold soon. I’ll take your advice and clean it gently with a toothbrush and dish soap before selling it. http://www.richspawnshopdayton.com
My husband recently bought me a new wedding ring, and now I’m interested in selling my old one so that we can have a little extra cash. I like your suggestion to know the karat of your jewelry because it can be very influential on the resale of value of your item. I wonder if there’s a place I could stop by to get an estimate on how much my ring is worth. http://www.rockymountaingold.com/jewelry.html
Thank you for contacting TrueFacet! We offer a complimentary appraisal for any items submitted for trade-in or consignment. To send in your item for valuation, please visit our site here or call us at 1-800-690-3736. – https://www.truefacet.com/sell-old-used-jewelry-watches-online/
I have recently been thinking about getting some cash for gold and wanted to look up a few tips. I really appreciated how it talked about making sure that the gold jewellery is more attractive to buyers by restoring its lustrous shine. This is a great idea and something that I will have to keep in mind. http://www.bellflowerpawnshop.com/
It was nice to know that old jewelry with lower market value will be better off being sold as scrap gold as it will allow me to earn more. I am sure that my old, gold necklace can be sold for scrap gold. After all, it’s not even a necklace anymore since a few pieces of it are missing, and the pendant’s broken. It was great that I found this article as I learned that I can still make use of my jewelry. http://www.coinspluscincy.com/we-buy
It’s great that you elaborated on selling your gold jewelry; it can be confusing at first. I had no idea that gold could be considered more valuable if it is scrapped as opposed to being finished. My mom has been thinking about selling some of her gold jewelry lately; I will be sure to share this with her. http://www.jljewelers.net/
I agree that you want to determine the worth of your gold before you go into a shop to sell it. Knowing what it costs will probably help you negotiate better. My husband and I are looking to sell some gold, so we’ll have to find its value first. https://www.sdgoldrecovery.com
I have this ring which was given to me by my grandmother. It’s a graduation gift actually. Until now, I am not aware as to how much it costs. Thanks for helping me in identifying that it is a 22K based on the gold jewelry hallmarks you’ve provided here! http://www.esbiajewelry.com/
My husband and I are tight on finances right now, and I’ve been considering selling my old, gold jewelry for a bit of extra cash. Your article had some great tips for selling gold jewelry, and I liked how you said to make sure you gently wash it first with soap and warm water. Thanks; I’ll keep this in mind when selling my gold jewelry . http://www.7thstreetpawnshop.com/jewelry
You made a great point about how you should have your items evaluated by a trusted jeweler before meeting your buyer. I have a lot of old gold jewelry that I don’t wear anymore that’s taking up a lot of space. I am looking into selling my jewelry and will definitely keep your great tips in mind!