Avoid Jewelry Liquidation Mistakes

With gold prices high, it may be tempting to cash in some of those old jewelry items. But it’s important to do your research and choose a buyer who is reputable. If you don’t, you could end up getting ripped off.

For instance, many gold buyers pay less than the underlying price of gold because they have to cover other costs such as labor, insurance and inventory. Additionally, they often charge a percentage for the privilege of handling your precious metals. This is known as a dealer’s spread. As such, selling your precious metals through a dealer isn’t always the best option for liquidation purposes.

You can sell your gold jewelry or coins to a jeweler, coin dealer, bullion seller or another type of precious metals dealer that specializes in these types of investments. However, you should know that some of these dealers will not buy a large enough quantity to be financially beneficial. You will likely have to sell smaller quantities, which may be more time-consuming and inconvenient.

A reputable jeweler will typically purchase your gold jewelry for its actual market value, not just its gold content. This will give you a much better return on your investment.

In contrast, pawnshops and other resale outlets purchase gold jewelry for a fraction of its actual value. These businesses are usually in the business of making a profit, so they will not offer you the highest price for your jewelry.

If you are looking for a quick and easy way to sell your unwanted gold items, consider online buyers. Most of these businesses will provide you with a prepaid mailer and pay you within 48 hours after they receive and appraise your items. This is not the fastest way to get cash, but it is a convenient and safe option.

Many people have gold lying around in the form of heirloom jewelry, coins or other gold items purchased for investment purposes. In fact, more than 2 million Americans are holding onto gold and other precious metals that can be sold when the market is right. But there are several reasons to avoid the temptation to liquidate your valuables, according to an expert in jewelry appraisal and valuation.

Jewelry trends change, so some people decide to sell their unwanted pieces and make room for more coveted styles. Some liquidate their old jewelry to help with a financial emergency. Others are simply ready to move on to something new.

Liquidating precious metals investments can be costly. But if you do your homework and select the right buyers, you can minimize these expenses and maximize your returns.

When it comes to jewelry liquidation, Jewelry Appraisal & Liquidation Solutions offers unparalleled service and attention to detail to ensure that each piece is handled appropriately. Their team of experts are trained in evaluating design attributes, examining craftsmanship and looking closely for makers marks to determine provenance. This ensures that you’re getting the maximum possible return on your gold and other precious metal investments.