Gold has multiple utilities. It is a highly-valued item of jewellery, and it also serves as an investment vehicle. In hard times, you can sell gold & get cash in return. There are many buyers for gold, as this metal is a durable & safe item of investment.
However, every buyer may not give you a good bargain. Then again, there are some pointers that, if you follow, will maximize your earnings for sure. You need to equip yourself with some knowledge that will allow you to negotiate a better-than-average rate with the prospective buyer. Let’s take a look at some of these tips:
Choose The Time To Sell Gold Wisely
Every item in the market follows the logic of demand & supply. Gold is no exception to it. At certain times of the year or during certain phases of the economy, the price of gold will rise – e.g., during the wedding season or a turbulent period in the economy. If you anticipate such times are around the corner, hold on to your gold!
You will get a much better price if you sell gold during these times. Of course, your requirement for cash has to coincide with these periods. It is best if you wait for such a time as these are the best time for you to sell your gold.
Select The Buyer Carefully
It would be best if you determined where to sell gold. There are many gold purchasing entities in every location. Find the one near to your place of residence, remember convenience is the key. But more often than not, you will get a raw deal from such places.
So, choose the buyer wisely. It would be a much better idea to select gold purchasing organizations who are far more professional and from whom you will get an authentic price for your gold transparently.
Have Proper Knowledge Of The Items You Plan To Sell
It would help if you had a good idea of the valuation of the items you want to sell. The higher the carat count, the more is the cash that you will receive against your gold as a higher carat count means the gold is purer. You may have also inherited gold artefact in which case; it is even more important to get their valuation done as their appraisal value may exceed their value by weight.
Segregate The Gold From Other Stones, If Any
Your gold jewellery might have other precious stones embedded in it. However, the gold purchasers would take an interest only in the gold component and not in any of these stones. So, more often than not, they will remove these stones and consider only the gold part. In such cases, segregate the gold & sell the precious stones separately.
Then again, the gold that you have maybe an heirloom like a medal or a memento or old coins. You need to consider these points if your situation warrants them.
Don’t Hesitate To Bargain For The Best Price
In case you feel that the first buyer you have approached is not offering you the best price, move on! You don’t have any obligation to sell to the first prospective buyer, so look around for other buyers, get rates from them, compare, bargain hard & then take a decision. Don’t get swayed by the “maximum cash for gold near me” type of advertisements!
To conclude, it is not difficult to get a reasonable rate for the gold that you want to sell. You need to be aware of market conditions & do some research on prospective buyers before you arrive at a decision.