Things To Consider Before Jewelry Shopping
Jewelry shopping tips don't just pertain to purchasing accessories. Sometimes gold jewelry owners may need to shop for a buyer. Individuals who have gold jewelry just sitting in a drawer will want to consider selling their pieces. They can then use the money they make to buy wearable treasures they'll use. Before selling to the first buyer, it's a good idea to have a look at these jewelry shopping tips. These are things to consider and selling practices to get the biggest return on any gold jewelry collection.
1. Post The Gold Online
Taking to Craigslist or eBay can give a seller access to more than just the typical buyer. Jewelry collectors, restorers, and re-sellers monitor the online marketplaces frequently for gold being sold. As always, if the seller has to meet up with the potential buyer in person, it needs to be public grounds. Gold jewelry is expensive, and scam artists are always out to strike.
Keep in mind; eBay buyers can see reviews on vendors. If the gold owner has few reviews or negative reviews, shoppers will likely look for another seller.
2. Cash For Gold Companies May Not Is The Best Option
Cash for gold companies makes the process of turning in old jewelry for money quick and easy. This can seem like a good idea from a convenience standpoint. As simple as the idea may be, it's probably not the best value.
Research shows that gold owners make more money on their gold jewelry by handing it into a jewelry store. Even pawn shops were shown to pay more for metal jewelry than an actual cash for gold store. That is one of the jewelry shopping tips that surprises most first-time sellers.
3. Gold Jewelry Evaluation
Another good tip is to get the jewelry the owner wants to sell evaluated by a third party. Jewelry stores will often offer evaluations. It's a good idea to tell them he is just curious but has no real intention of selling it.
They'll likely give him an evaluation based on weight. If the jewelry contains jewels like rubies or diamonds, they need to be factored into the worth as well.
4. Don't Give In Too Easily
Once an offer has been received on the scrap gold, one doesn't have to accept it. He certainly can let the prospective buyer know that he is shopping around for offers. This will show the interested party that he is serious about getting the best offer. If the would-be buyer wants it, he may come up with a better offer.
If the gold owner lives in a rural area, it's smart for him to go into the city. More businesses mean more competition. In order stay in the game, someone has to be willing to cut a deal. Bottom line: gather multiple offers and be willing to haggle.
5. Find Out If The Gold Jewelry Is Collectible
There are always a few kooks online that can't get enough of their favorite jewelry. It could be golden owl pendants, antique wedding rings; you name it. To them, the gold jewelry may be worth substantially more than it would to the average Joe.
If the gold jewelry is from a reputable designer, it may be worth more as a collectible. The same is true depending on how old it is. For someone who wouldn't mind ditching a hoary family heirloom for cold hard cash, research is necessary. Without discovering the age and origin of the gold piece, he could make an error in selling it.
One of the most interesting things is how gold is valued throughout economic highs and lows. When the economy is in recession, the value of gold has never dropped to zero. The American dollar has. At one point in history, citizens would burn dollars to keep warm. People are often willing to add gold to their portfolio before a national financial downturn.
The problem is some people wait to buy gold til a monetary crisis strikes. Then they can't afford to pay a fair price. It's important to know how the stock market is doing as a whole before trying to sell the gold. For one, the gold may be worth more than cash someone is willing to pay. In this case, it can be a safety net for the owner.
The owner may also want to wait till the economy improves. A recovery in the market can mean buyers can afford to spend more on gold.
These six jewelry shopping tips will hopefully help those new to selling get their best offers. If the gold owner has sold scrap jewelry in the past, these jewelry shopping tips can still be beneficial. Markets change, buyers change, supply and demand change too. It's best to shop, compare, and not be afraid to get creative when seeking a buyer.