After gold rose to $1100 dollars per ounce, many people with personal gold pieces want to know, “How can I price my gold jewelry for resale?” To take advantage of the spike in gold prices, selling gold can help provide you with fast, extra cash. Here are some tips to help you learn how to price your gold.
Have Your Gold Appraised
A professional jewelry appraiser can give you a general market value to start with. They will also be able to tell you the exact weight and percentage of gold contained within the jewelry. Keep in mind that you probably will not receive the full appraised value.
Narrow Down The Estimated Value
Narrow down the appraiser's estimate by specifically asking them,”How can I price my gold for resale”, to get a more realistic market price. This information alone, makes their average charge of thirty five dollars, worth every cent.
How Can I Price My Gold Jewelry For Resale With Market Prices?
Since the jeweler may use last week's or yesterday's gold market price, you should check the current price of gold. Gold prices are not regulated and can change dramatically. Search the internet for “daily market gold price”.
Compare Jeweler Estimates
After you have the first jeweler's appraisal, take some time to obtain three more appraisals. Start with, “How can I price my gold jewelry for resale” and find out what price they use for pure gold. Also, if the jeweler is willing to sell your jewelery for you, check what their commission is. More importantly, if they ask you to leave your jewelry, do not ever do it.