While selling gold often people are confused as they aren’t sure to get the right value for the precious metal. To know whether they are getting the right value for the gold they own, it is important to consider certain facts.
Here are few prime facts to consider while reselling your gold:
- While reselling gold asset like ornaments remember that you won’t be getting the value of new gold. The basic reason is its value starts deprecating after you have bought it.
- Know the purity of gold. It is best to have right appraisal of your gold before you embark to sell them. If yours is 18 karat jewellery, it means the purity is less hence you will get less money. Usually, gold in minted form is calculated in ounces whereas gold ornaments are evaluated in grams. While selling the weight of gold will be converted into ounce, thus the value of it will be marginally less. Moreover, while making the ornaments other alloy to make it durable is added in quite little proportions. That will be deducted while valuating your gold ornaments while selling on reliable vendor’s platform.
- The wear and tear of the gold ornaments reduces the price. As the years pass by while you adorn the jewellery there are high chances of wearing off. Thus, when you try to resale the gold jewellery there are chances of reduction in price.
- Recognisable branded gold jewellery will fetch more price compared to non-branded jewellery. Having a popular branded jewellery not only attributes to status symbol, it even fetches more monetary gain while reselling it.
- Antique gold jewellery won’t fetch you desired money. Many people have misconception that old jewellery items passed on from generation to generation will be quite valuable. Actually, any kind of gold ornaments is valued considering its purity. However, if its past owners were holding historical status the value of gold jewellery may increase while auctioned.
It will be beneficial to first appraise the gold jewellery items before selling them to highly reliable jeweller. If you are planning to invest in gold to resell later when required buy gold bars or coins minted from a reliable company. It will be profitable as its purity won’t be hindered and moreover it will fetch you the current value of gold. To cash for gold is better option than investing in shares and other paper currency.