Thursday, October 31, 2013

Harvesting Returns in Gold

For the past years, the price of gold has been steadily increasing, and has been nearing an all-time high.  Thus, a lot of market insiders have been saying that these days would be a good time for selling gold jewelry to make a good profit.  However, be warned that not every buyer will be offering to buy your gold jewelry at a fair price.  Thus, you need to be more knowledgeable of your options so that you can make more money in selling gold jewelry. Take extra caution before emptying your necklace display stand and cash in on your investment.

Image source: Forbes
Perhaps the most popular manner of selling gold jewelry is to sell them to antique jewelry dealers in exchange for cash.  Your evaluation skills will be put to the test here as you will not really be sure if the pawnshop or jeweler will be giving you the best price for your jewelry.  You need to know how to negotiate so that you will get the selling price right.  If your jewelry has an appraisal, make sure to have it handy when dealing with the jeweler.  At a pawnshop you will have the option of buying back the jewelry if you opt to do so.  Otherwise, be ready to sell your jewelry at scrap price.     

With the popularity of the Internet, selling products though auction websites has also been a welcome option.  Buyers can bid for your gold jewelry up until you deem to get a good price.  Just make sure that you present your pieces the best way possible through high quality necklace displays. However, if you think that only buyers get scammed for not getting the merchandise they bid for, you are wrong.  Sellers can also be scammed by unscrupulous buyers.  It is best to consult someone well-versed in the ins and outs of bidding websites so that you will not get duped.        

Image source: Gofishing UK
Auctioning for your gold jewelry can also be done physically.  You will have an auction house and an auctioneer work for you.  Make sure that you know the approximate resale price of your item, and if the auctioneer thinks that the item will sell or be at least near the price, to level off expectations.  Make sure you are ready with your appraisal documents.  

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