So, you have some gold you are thinking of selling, how can you know the best dealers you should sell? There are plenty of gold buyers who would love to get their hands on your gold, some specialise in gold jewellery others specialise on bullion coins and bars. The rule of thumb says you should sell gold jewellery to buyers who are interested in jewellery and bullion products to others whose specialty is gold bullion and bars.
Let’s look at the gold jewellery you might want to sell:
Gold jewellery
If you have rings, necklaces, bracelets, etc that are non-brand name, you could sell them to any gold buyer. You will get a good price even for jewellery with no brand name. You would expect designer gold jewellery from famous jewellery brand manufacturers like Tiffany or Cartier to fetch a good price but that isn’t always the case as buyer often price jewellery in terms of gold content and not by brand name. This does not mean there aren’t gold jewellery who will pay more than scrap value for high-end, branded jewellery pieces. They exist and you should take time to find them. If you are uncomfortable with the price a buyer gives for your jewellery, take it somewhere else. Find a gold buyer who will take the design, the brand-name or the vintage of your jewellery seriously.
Most buyers are willing to pay 50 cents for every dollar of the value of scrap gold. Reputable buyers will offer up to 75 percent of the gold jewellery’s scrap value. Some will pay for the diamonds and other precious stone on the jewellery but most buyers will only give you a price based on the gold content alone.
To find online gold buyers and other gold buyers in your area, you can search using keywords like “sell gold Brisbane”. Browse through the top rated sites or look at consumer review sites for recommendations.
Gold Watches and Other Luxury Brand named jewellery
Most gold buyers base their price on the scrap value of gold. The engagement ring you sell will either be melted down by the buyer of sold to a precious metal refinery so that the gold extracted from if can be reused to make a new item.
For example, a Rolex Day-Date gold watch made from 18k gold, contains 51 grams pure gold would be worth $2,900 based on its gold content, however a gold watch like that is worth thousands more because it’s a Rolex. So selling it as scrap gold is not a good idea regardless of how old and how poorly maintained it is. The same can be said for jewellery from luxury brands like Van Cleef and Arpels, Tiffany, Hermès, Gucci and other high fashion brands. They may have a very small amount of gold but they may be significant in the second-hand, pre-owned jewellery market. If your gold buyer only deals with scrap gold, he may be able to refer you to another buyer who specialises in pre-owned luxury jewellery. You can also find a buyer of second-hand luxury brand watches and jewellery online.