Before you sell unwanted gold or jewelry, it’s important to fully understand what you are selling, who is buying, and what constitutes a fair price. Not all businesses offering cash for gold are equal, or even offering relatively equal prices, and you can be sure to receive a different experience working with an established community jeweler than with a fly-by-night gold buying store. Below we run through a handful of tips to help you identify the right buyer and find a positive selling experience.
Work With Transparent, Ethical Jewelers
Prior to bringing your valuables to a potential buyer, do a bit of background research on the business you plan to visit. You can check for a BBB Business Review or scour other customer review sites for testimonials from other sellers. Use your intuition. Does this buyer seem like they do everything above board, or does something feel off? Does it feel like a pawn shop or an experienced dealer of fine jewelry. A long-standing jeweler with good standing in the community will be open about their prices and what you can expect in their gold buying process.
Impatience, pressure and take-it-or-leave-it type deals and interactions are all bad signs! Seek to work only with buyers willing to respect your time and possessions.
Read The Room
Once in store, be sure that everything is done in a transparent and honest manner. Reputable gold buyers are required to use state certified scales and should examine and weigh your items right in front of you. Pricing should be openly displayed, and not adjusted on some nebulous sliding scale. The buyer should ask for ID as it’s mandated by state law to provide identification when selling gold (be sure to bring one!), and provide a receipt for a record of your transaction.
Properly Identify Your Jewelry
Do a bit of homework if needed and know exactly what you have before you approach a gold buyer. If you have a piece designed by a notable maker, it may be worth more than simply its weight in gold. While well-intentioned buyers might be honest and upfront with you, this is not always the case. The more knowledge you are prepared with beforehand, the better you will fare in selling your gold or other jewelry.
Don’t Mix Karats or Sell in Bulk
Resist efforts to buy your jewelry or gold pieces in bulk. Additionally, don’t mix jewelry of different karat values together to be weighed. Gold buyers looking to pull one over on you may try to weigh your items all together and offer you a price per weight based on the karat value of the lesser pieces.
The decision to sell is yours, and you should exercise that power. Visit a few different gold buyers and see what prices and rates are offered. This will also give you a sense for how each does business, and who might be more worthy of being trusted. Once you have received a few offers, you will have a stronger idea of the best move to make.
In addition, you could consider having your jewelry appraised. The appraisal process will cost a bit up front, but will give you more confidence moving forward with a sale knowing exactly what your jewelry is worth. This will also help you form a realistic idea of what to expect.
When selling gold, jewelry and other valuables, you should aim to work with a buyer who understands and respects that the items you are selling might carry great personal value, whatever the actual cost of the jewelry or precious metals. As such, you will want to work with a jeweler who is patient, respects your time and personal items, and is willing to educate you and explain the process, outlining what you are being offered and why.
This is precisely the experience you will receive any time you visit Lincroft Village Jewelers. We are a family owned business operating in Monmouth County since 2005. In our 15 years of business we have built a sterling reputation offering exceptional quality service to match our high quality jewelry and remarkable prices.
Whether you are shopping for a new piece of fine jewelry, or looking to sell old or unwanted pieces, Lincroft Village Jewelers is your one-stop shop for unrivaled quality, price and service!