How to Get the Most Out of a Gold Jewelry Valuation

gold jewelry value

Gold jewelry is a wonderful way to show off your style. However, determining what’s worth what can be a bit daunting. Fortunately, there are several things you can do to make a gold jewelry valuation a little more straightforward. You can start by checking the karat weight and markings. Then, you can use the current spot price of gold to approximate the value of your pieces.

While you’re at it, you might as well check out the gemstones in the piece. Many pieces aren’t actually solid gold, but are instead made from a mixture of metals. This mixture can help to enhance the color of the gold. Adding a little silver can create a nicer looking piece.

As you might expect, the most expensive jewel is not necessarily the most valuable. In fact, some items are relegated to the scrap heap. But that does not mean they are worthless. If they are in good condition, they could be a worthy investment. For instance, a large chunk of platinum is sure to fetch you a hefty sum.

If you want to get the most out of your gold, you might consider trading it in for cash or credit. When you trade it in, you’ll typically get at least 80% of its original value. Aside from that, you can try snagging a bargain at a pawn shop or other retail store. Of course, you’ll also have to pay the sales tax, but you can still score a good deal.

Using a measuring stick and weighing your piece will help you make the case. Be careful though – your necklace may be hollow. Likewise, you don’t want to be tempted to resell a hollow chain if you’re interested in the gold value.

The same holds true for the gold bracelets you can buy at a jewelry store. Some retailers will even offer you a trade-in credit on the cost of the necklace. However, you won’t be able to get the same value if you resell it to another retailer. So what are the best options?

One way to do it is by using an app or website. Some, like the Apples of Gold Jewelry, have a model for pricing gold jewelry that ensures you get at least 30 percent off what you would pay for the same jewel in a traditional store. Plus, they have a massive customer base, making it the first choice for gold buyers around the world.

The other obvious way to sell your old gold jewelry is to go to a pawn shop. You can get a much better deal than a retail store, plus you’ll be able to test your piece. It’s important to remember, however, that these stores often require you to sign a contract before they will exchange your jewelry. And if you decide to buy from a pawn shop, you won’t be able to use your jewelry to pay off your loan.

The true value of your old gold jewelry will depend on how much you plan on reselling it. If you’re interested in making a profit on the purchase, you’ll need to make a few calculations.