How to Sell 14K Gold Jewelry?

When you begin seeking gold buyers it becomes essential to know the estimated market value of your gold pieces. The first step requires knowledge about your gold karats and the present gold market value.

Identify the Karat Content in Every Gold Piece You Plan to Sell

Any piece of gold with the Karat mark shows its percentage of pure gold content among 24 segments in the gold alloy. A 10K gold alloy consists of 10 parts gold and 14 parts other metals which makes its gold composition amount to 41.7% (10 divided by 24).

The karats of gold jewelry matter because sellers determine value based on them when you present your items for sale. Most manufactures create this identifying information through stamping the metal surface inside the piece of gold jewelry. Items containing karats may also show this value through percentage or parts per thousand indications.

You should determine the karat value of your jewelry by getting it tested at a jewelry store or performing the test at home with a gold testing kit.

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Check Current Gold Prices

• The value estimation for your gold jewelry requires knowledge regarding the pure gold content expressed in weight percentages.

• Determine the market rate of pure gold by ounce/gram then apply it to the weight of your pure gold items. 

• Visiting a gold dealer will probably result in selling your items at 60% to 80% of the current market values shown on gold exchanges.

• The cost of gold purchases benefits bulk buyers yet refineries demand large quantities of gold that average customers usually lack.

Evaluate the Gold and Stones Separately

In the case that the precious stones are cut into your gold jewelry, you have to find out the price of each piece if you sell them. There are buyers of gold who would take the diamond or other stone together with your jewelry. However, it's any way required for you to grade these items, so that you know whether a good deal is made.

Determine If Any of Your Gold Items Are Unique

First of all, check the pieces of gold you have and look for the ones that might be special enough and therefore more valuable as unique items. For example, a few of these could be sold as antiques. Rare are such items that scrap gold will fetch this money, but some may be the cases that they do.

Now and then even pieces that are antiques or by known designers might be sold for more in an auction rather than gold dealers would want to buy them for.Sell them through an auction first and if you get over their scrap gold value then you can proceed to sell otherwise. By the way, some jewelers may bid high for unique jewelry too, so you had better try and see which store can offer the most for your stuff before deciding where to go.

Appraisal Only If Selling Complete Pieces of Jewelry

A high-quality appraisal is a report that illustrates the price your jewelry might cost on the market in case it was reviewed by an expert. This is a good way to sell your items as complete jewelry, such as on an auction platform. Above all, appraisals are useless if you are looking to get rid of your unwanted jewelry at a gold dealer.

Dealers do not consider the imaginary value of the piece based on its history of use, brand or age. They take the jewelry for scrap gold and pay an established price per unit so an appraisal will stay affixed and fail to convince them to adjust the price to your favor.

Decide If You Prefer Cash or a Trade-In Deal

First of all, decide for yourself if you want to get cash or trade-in your gold. Gold dealers then assess trade-off deals to find the buyer and make some better money. Some jewelers might give you store credit for the gold jewelry you bring to them along with the cash they are willing to pay you for your jewelry.

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Is the trade of your gold for another piece of jewelry your idea of fun? If so, I say, yes, this piece of jewelry is probably more valuable to you than the highest cash amount you would get. Or maybe, there is nothing you like of that jewelry to exchange with your gold. Thus, you have to think this way before deciding which method of trade is the most suitable for you.

Consider Selling Any Diamonds or Other Stones Separately

On one hand, there are many gold dealers that are ready to buy your jewelry directly, and they will also buy the stones in it. It’s best to consider getting a price for the diamonds, or other stones, from several gemstone dealers. Compare their price with that of the gold dealers. It’s possible that you might make more if you sell the stones and the gold separately. Another option to check for your stones is jewelry stores. Though their cash offer may be rather minimal, one can ask for store credit instead.

Find Places Where You Can Sell Your Gold Jewelry

Now find offers you will act on and see which of those places will promise you the highest price possible once you know how much gold you have found and the price for scrap. Here are the options you should consider:

Gold Dealers

You could sell your jewelry to gold dealers if you urgently need money. The dealers buy gold to sell it to companies, which melt it down afterward. Ask several reputed gold dealers for quotes or check their websites to find out what prices they are offering. Dealers will only be interested in the metal content when buying jewelry. You could get more by selling your jewelry at auction.

Selling to gold dealers is very easy and straightforward. They will give you prices on the basis of karat and weight of your jewelry. These buyers quote prices for either grams or ounces of pure gold, so they are not going to be affected by the elegance of your jewelry or what brand it is.

You should also compare the prices fixed by various gold dealers as most of them will fix about the same price. This would help you to weed out and discard those offers that are slightly under market value. Use the prior rule of thumb: Expect to be paid about 60%-80% of the gold market value.

Jewelry Stores

Almost all jewelry stores do not buy pre-owned jewelry. If a jeweler has a cash offer available to you, that offer will generally be at a substantial discount off the price of a new item in a retail establishment.  Jewelers are more likely to offer trade-in services in exchange for your jewelry. In very simple terms, you can exchange any gold piece in exchange for new items for the store.

You will be provided with store credit and if you choose to purchase any new pieces from the store, they will be charged at a price higher than what is indicated on the credit note. These trades are quite common among the jewelers as they help the jewelry stores to make additional profit with every sale. This is one reason offers of such a kind are likely to be worth more than cash offers.

In the End

Online is the way to go.If your gold jewelry is collectible-wise, it would be best to auction it off online, as this is one of the preferable ways to get rid of unique pieces.

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