What You Should Know When You Sell Gold Jewellery

A common method of making money is through selling your gold jewelry. This is perhaps one of the personal articles which tend to accumulate over the passage of time. From time to time, the jewelry may go out of fashion, or even one of your earrings may simply get lost. It doesn't matter what your motive for selling is, but if you wish to maximize on your jewelry sale, the following ideas may steer you in the right direction.

The Basics

A gold refiner, jeweler, scrap gold dealer or pawn broker will buy that stuff which has been lying at the bottom of your jewelry box at a certain price which will be dependent on the weight of the gold content. You reward will be less a dealer's handling fee. The dealer is one who will melt down your jewelry, extract the gold and resell it for profit.

Karat Content

Gold content is indicated in karats. An article of jewelry that is made of solid gold is 24 karats. Jewelry of lesser quality has lesser gold content and with other metals plus other hardening agents. Generally, the buyers will only pay for the gold component. With a few exceptions, the other metals normally have no re-sale worth or value.

By and large, the gold amount or content in any jewelry piece will be etched somewhere on it -- on the ring or bracelet inside, on the necklace clip or the earring back. For example, a 14-karat jewelry piece might actually have "14 karat" etched on it in small lettering or inscribed lettering might indicate "14K" or "14/24."

Melt Value And Resale Value

The less the gold content in your jewelry, the less the amount of money it is worth to anybody who is intending to have it melted it down. Whenever you are purchasing jewelry at the jewel store, you indeed are also going to pay for the intricate craftsmanship and design plus any precious stones that might have gone into its making. As a matter of fact, a beautifully crafted jewelry piece might possess more resale value or worth as used jewelry as compared to what it may fetch as recycled gold. It therefore would be advisable to have it appraised in case you think that this could be the case. Majority of gold buyers won't pay you anything for the precious stones, except in the case of diamonds.

Valuing Your Gold Jewelry

It's very easy to get your fingers burned when selling gold jewelry. It therefore would assist you very much to have a clear idea of what exactly you are disposing even before you approach any gold buyer.

For example you could visit the website run by the World Gold Council. This is an international mining companies' organization, which posts the most recent gold prices. Prices of gold tend to constantly fluctuate, so the figures you see there may unlikely to be exactly what you will receive for your gold, although this will definitely give you a figure to guide you. Ask the dealers if they belong to any reputable organizations. In the US for example, those transacting with a jeweler, could inquire from the dealers whether they are members of the American Gem Society or the Jewelers of America. These are organizations advocating for professionalism and ethical standards in the American retail jewelry sector.

Final Steps

Expect that the dealer is going to keep something for himself; something in the range of at least 10% and going to as high as 30%. This is a negotiable factor hence the reason why you should go there informed. Additionally, when dealing with a gold refiner, ask them if their company is an affiliate of the International Precious Metals Institute, whose goal is to encourage ethical international business practices within the precious metals industry.


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Australia Gold Dealers adheres to all international business standards. Abraham has been supervising the buying of precious metals in this company for many years. They offer fair prices and have a transparent process in the buying of gold, making them a trusted name for sellers. To read more and guidance, visit us at http://sellgoldsydney.com/ .