Selling Gold Jewelry - A Guide for Quick Cash!

Are you interested in selling gold jewelry? Eventually, the perfect time to sell them is when the prices are mounted up like anything. There has been a dramatic increase in cost of gold and gold jewelry over a decade. And there is no surprise that many people are thinking about selling gold jewelry, as they could earn a good sum of money and make huge profit. Moreover, there are people who are interested in selling the broken or damaged jewellery for instance sale of a broken ear ring. However, people who are interested in selling gold jewelry should be aware about the following fact. 

The surprising fact about the sale of gold jewelry is, regardless of increase in gold price, there is no shortage of buyers of gold jewelry from common people. The secret behind the increased number of gold jewelry buyers who tend to pay equal to the market value are actually the brokers who pretend themselves as genuine buyers. They act as an intermediary between the sellers and the gold refinery, where they buy the gold jewelry at current market value and resell it to a gold refinery at a huge price, from which they make huge profit on resale of gold jewels. 

Selling gold jewelry for cash and making huge profits is quite trickier, where the sellers should be cautious in choosing appropriate buyer. Following is the simple guide for people who are thinking about selling their gold jewelry. 

Purity of gold determines the market value of gold, which is measured by karat. Ensure to get the gold jewellery get appraised with a professional gold appraiser to know the actual worth and purity of the jewellery. 24 karat is the purest form of gold, whereas 22 karat is the gold mixed with copper and used in making jewellery. As the karat meter goes down, the sale value of jewelry also gets reduced. Any jewellery less than 10 Karat should not be sold in US being an illegal activity there. Don’t attempt to sell the jewellery at pawn shops. Pawn shops are nothing but the middlemen who sells the jewellery at a huge price to gold refineries. The pawn shops are more likely to offer the lowest price for the jewellery which in turn brings them higher profits. It is not sensible to sell the valuable gold jewellery to pawn shops at a lower price. 

Broken jewellery will not yield much profit and jewellery shops never show interest in buying such jewels. Even though some of the shops might be interested in buying the scrap gold, the pay will be much lesser than the market value. It makes better sense in exchanging the scrap gold while buying new jewellery, rather attempting to sell it. Selling gold jewelry to the jewelry shop from where it is bought can earn a good return and considerable amount of profit. 

If your jewellery boasts a nice artwork and found to be a well crafted masterpiece, it is better to approach the reputed jewelry shop for sale. However, it makes better sense in avoiding sale of such artistic jewellery, which will be very hard to design and quite expensive to buy in future. Jewelry shops are concerns about the value and weight of the jewelry and not its beautiful design or craft work. 

Finally, selling gold jewelry is not a good idea especially when it contains stones, where the actual weight of the gold content would be less and it cannot earn a good profit on sale. 



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