Can You Make Money Selling Gold Jewelry

The gold value has appreciated to a greater extend that one can make huge profits on margin by buying scrap gold and re-selling them. If this is the case with a middleman, how much profit could one make by selling unwanted gold jewelry that is more than a decade old? If there is a best time to cash out profits from scrap gold, this is it.

People develop affection towards jewelry to an extent that they will spend hundreds of dollars on repair before deciding to sell it. Repairing though expensive does not bring back the originality of the jewelry. So, this becomes an unwanted piece of valuable and the only option could be to sell it.

First timers should have answers for two of the following questions. 1. How to sell scrap gold jewelry? 2. Who is the best buyer? There are so many buyers in the market that once they are aware that you are interested in selling your gold, they will bombard you with rates and offers. The 3 main buyers are jewelers, pawn shop owners and online buyers. Jewelers do not give a good rate as they have no use for the scrap gold. The pawn shop owners usually take major share out of the profits which leaves one with the online buyers.

Selling gold jewelry has become very easy these days since one can sell gold from the comfort of home to an online gold buyer. This is also the most feasible option since, the online buyers being refiners themselves, pay entire profit or in simple terms, maximum cash for gold. The online gold buyers send kits that are insured to post the gold to them which is easy and safe way of shipping.

It is safe to avoid buyers who promise the extraordinary; as they might try to cheat. The best way to stay clear of them is by knowing the worth of gold by valuing it locally from a licensed gold merchant. This will also help in negotiations to get good profits.

The seller has to do an extensive research to find the most reliable online buyer. It is best to check the terms and conditions in the website; check testimonials of existing customers, any complaints about the company and also gain knowledge on payment, shipping and valuing process.