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How do I Sell Gold Jewelry?

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  • Written By: Josie Myers
  • Edited By: Andrew Jones
  • Last Modified Date: 23 August 2016
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In times of fluctuating dollar prices and unsteady markets, gold prices remain fairly stable, and can even increase in value. Since it is a solid object, it tends to be less subject to stock market and economic woes. Because of this, many choose to sell gold jewelry to make few dollars during difficult economic times. Broken items are among some of the most popular to sell since these otherwise useless items can be worth quite a few dollars.

Many consumers are familiar with the television ads that claim to send cash in exchange for gold pieces. Interested parties call or e-mail the company to request an envelope. Gold items are placed in the envelope and sent back to the company. The pieces are evaluated by the company and a check is sent back to the consumer. The prices these companies offer can be fair, particularly when dealing with broken or other low quality items. This may not be the case, however, for items in good condition.

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Before choosing to sell gold jewelry, it is a good idea to check with local jewelers and pawn shops. Many will offer more competitive prices for pieces than mail-in companies. They are particularly a good place to turn to sell gold jewelry that is not broken, or which has stones in it. A jeweler will sometimes able to offer a price for the whole piece, or to carefully remove stones that the seller would like to keep. When selling a quality piece, a local jeweler is the most likely to offer the best price.

Gold parties have become another popular way to sell gold jewelry. A representative from a larger company comes out and holds a party at someone's home, or at a fundraiser for an organization. Each guest brings some gold items with them to sell to the representative. They are weighed and the selling price is determined based on the weight and grade of the gold. The guest takes home cash that day and the host receives a portion of the total sales as their incentive for hosting the party.

Anyone selling gold jewelry should research the current value from multiple sources before agreeing to a sale. While it is difficult to evaluate a piece that has high craftsmanship, it is possible to find a basic price based on weight and quality of the gold. Gold values are followed on national exchanges, and are easy to find in current market reports. If possible, weigh items before sending them and document the value based on their weight and karat to get idea of the price. Any vendor will hold back a portion of the profit for themselves, so figure that into the valuation as well.

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