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Author: Better Business Bureau
With the increase in the price of gold, consumers can make extra money by selling their jewelry and other products. Most sellers don't know what their gold is worth and get a small percent of the market value when selling.
There is a lot to learn in order to get the highest possible return for your jewelry. Before selling to just any dealer or outlet, consider these tips:
Know what your piece is worth. Know the karat value and weigh each piece yourself in advance. Get an appraisal from a local jeweler, but keep in mind that you are unlikely to get the full amount when you sell.
Know who you are doing business with. Do some research beforehand on the business you are considering selling your gold to. Find reputable jewelers and gold dealers by searching the Accredited Business Directory, or look up Business Reviews at bbb.org.
Shop Around. Get four or five estimates so you have a good idea about the price you should be getting. Comparing offers from more than one buyer will help you determine the market value of your piece.
Be careful when using a mail-away service. Understand all of the terms and conditions before you mail your gold. Take photos and make a list of your items and insure them before sending. Know how long it takes to receive an offer and how long you have to accept or reject that offer.
More tips for this industry