Why people sell their gold jewellery


Gold has been a special metal valued by many for centuries. There is something special about this precious metal. Its shine doesn’t fail to impress. Your gold jewellery can be much more than just an accessory. It can be a worthwhile possession that you can rely on in times of financial crisis. However, if you find yourself thinking about selling your gold make sure that you understand the process. The first question of course is why you need to sell? To get cash obviously but are you selling something that has more than monetary value? Are you selling a piece of jewellery that is highly valued in the market because of its design and the brand name it carries? In order to get answers to these questions you need to delve a little deeper into the world of precious metals and find out what jewellery buyers are looking for.

Most people own some kind of gold product. Jewellery is the most popular. You could have gold earrings and necklaces that you wear as accessories or you might inherit or get gifts in the form of gold jewellery. Gold jewellery has always been popular with a lot of people buying it and creating a collections. Collectors buy pieces that have a special significance and will for this reason want to hold on to their beloved pieces for as long as they need to until they reach a point where they need to consider parting with them to meet some emergency financial need. Whatever your reasons for owning gold jewellery are, gold jewellery buyers are most likely to discount your emotional attachment to your jewellery and will be interested only in what they stand to profit when they buy your gold.  

Why do people generally sell their gold jewellery?

Not everyone buys gold jewellery with the intention of selling it later on to get cash. Sometimes, you need to refresh your jewellery box with new pieces from time to time. You can sell old jewellery and usethe money to buy another piece of jewellery and update your gold jewellery coins. When you realize that your jewellery box is filling up with pieces you have no use of or simply have fallen out of love with then selling your old jewellery can help you get the added cash to buy new pieces. 

  • To make a profit

Investors buy gold when the market moves in favour of this precious metal. Since 2021, the price of gold has been doing better than it has in decades. However, it should be emphasized that the gold price is volatile. Buying and selling gold is a skill that takes time and effort to master.

  • To make money

Life can throw all kinds of challenges at you, if you are facing a monetary problem that needs immediate attention, your gold jewellery can be the source of that cash you need. When selling gold jewellery make sure that you won’t regret your decision by selling jewellery with a special personal meaning. Make sure you are ready to sell to avoid future regrets and make sure that you sell to reputable buyers. 

How Much Is Gold Worth?

The price of gold fluctuates frequently depending on a number of factors especially, the supply and demand dynamics of gold, inflation and son on. You should check the spot price of gold regularly to know the best price that you can get for gold.

How To Value Gold Jewellery

You should always do your own research in advance to decide the best time to sell your gold and to understand what offer you should expect. Gold jewellery buyers might use scrap prices to give you the value of the gold you are selling. This is because the gold is bought to be melted down and reused.  

There is a number of things that will have an impact on the final offer for your gold. These include the condition of the jewellery, any special features the jewellery has and of course the spot price of this precious metal.

You can find plenty of gold jewellery buyers online but you need to ensure that you are using a reputable gold jewellery buyer, don’t settle on the first company that pops up. Look around in your neighbourhood for a buyer you can have a face to face interact with.