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Things to know before you sell your gold jewellery

Things to know before you sell your gold jewellery

It is often seen in India that when in a serious or emergency need of cash, people turn to monetize their belongings of gold, especially gold jewellery. In most cases, it has been observed that money en-cashed on selling gold jewellery to be much lower than one’s expectation.

If you are planning to sell your gold ornaments, keep in mind that you might not receive the actual worth, as the selling price of the gold is not the same as its buying price.

In order to avoid further disappointment, following are the few checks before selling gold jewellery:

1. Retain invoice – Always carry the purchase document or invoice when you go to sell your jewellery. This will give you a fair idea of the price and will also help in negotiation with the buyer. We at Cash on Gold, offer you the best price in the market as valued by our expert sales representatives.

2. What’s it worth? – Always have a proper understanding of the worth of gold that you are intending to sell.
Take at least 3 to 4 quotes, such that one can fully appraise the value of the ornament and can settle for the highest price possible for the piece you are parting with.
We at Cash on Gold, offer instant cash after measuring your gold assets on Karatmeter.

3. Check purity – Before you sell your jewellery, always check whether it is hallmarked or not. Jewellery that embarks a 916 hallmark means 91.6% purity of gold for 22- carat gold. In any case, your jewellery is not hallmarked, then take it first to a store which has a carat meter, which establishes the purity of gold. Post testing the gold ornament, a certificate with its final purity (in karats) will be issued.

4. Deciding the final price – Most of the gold shops which take used gold, will first melt the jewellery and the gold available thereafter which is free of any impurities is taken for deciding the price.

This entire process is done at a nominal cost which will be deducted from the final price of gold. This deduction ranges between 4-10%.

In some of the other cases, shops have a decided selling price for every 10 grams, in the same manner as that of a buying price. It is generally observed that the selling price tends to be lower than the buy price by 6-7%.

Finally, remember, in the process of selling gold jewellery, one will lose out on the entire making/labour charge paid at the time of purchase (which forms a major chunk of jewellery price) and also the tax paid.

We at Cash on Gold, evaluate the final price and purity of gold with the help of a karatmeter. It helps us to give you the best price in the market.

5. Where to sell – The best choice is to go to a reputed jewellery store as the chances of getting a fair price (market value) is the highest. At Cash for Gold, have years of experience and thus ensure you the highest grades of services. We have a vast pool of happy and satisfied customers to vouch for our quick and excellent services.

If you wish to sell your gold jewellery, come visit us today or contact us. We will offer you the best possible prices in the market in the minimum time possible.