10 Essential Tips for Selling Gold

by | Sep 19, 2022 | Gold Jewellery, Jewellery

Gold is one of the most precious metals valued by householders. It is considered auspicious in many Indian households. That is why gold is offered as a gift to many people. The price of the metal is market linked. Based on the demand and supply in the market, the price changes. Therefore, the price you are paying for purchasing gold today will not be the same tomorrow. Due to increased demand and scarcity in supply of the product in the market, the price is on the surge. It provokes many individuals, businessmen, and householders to exchange gold for cash. The article discusses a few tips to help investors make the right decisions for exchanging gold for cash.

  • Prefer Ethical Processes

Many old gold buyers follow various dubious processes in the setting price of gold, measuring the quantity of gold, and others. If you want to sell gold for cash online in Kolkata , you must be aware of the businesses which follow these practices. 

The question comes, how would you know that? The first thing you can do is physically visit a gold shop and sell it there in your presence. The other option you can follow is to do rigorous online research to find out information about any company which buys old gold jewellery in exchange for cash. 

If you find good feedback about any shop, you must consider giving that shop a visit. On the other hand, if you find any negative comments about any gold shop, you must refrain from contacting that shop.

  • Look For Buyers with A Long Track Record in Jewellery Business

There are many gold jewellery shops in Kolkata which are present for more than 100 years. These companies sell gold jewellery and also buy old gold jewellery in exchange for cash. You must prefer these old shops over other young gold retail shops. These shops have been successful to establish an authentic system to appraise the old gold jewellery following a transparent and authentic measure. You can also expect that these shops will not take any fraudulent action to deceive you and offer less value. 

Many modern gold shops in Kolkata follow a systematic process to exchange gold for cash . However, these shops will not show any interest to offer you the right value if the cost of gold is very less or the amount of gold jewellery is low. As you demand the best service and cooperation along with a systematic process to evaluate the value of gold and offer you cash in return, prefer the authentic, established, and old gold jewellery shops in contrast to modern and sophisticated shops.

  • Pricing Should Be Transparent

The staff of a gold jewellery shop must be able to communicate the value of gold and its price without much hesitation. However, they must not say it randomly. They must have a system to identify the weight, karat, and value of the old gold jewellery by assessing hallmark signs, jewellery bills, BIS certification, and any other measures as applicable. Do not allow them to take away the jewellery out of your sight. Ensure that they measure the weight and follow other processes in front of you.

  • Know The Weight and Karat Value

It is always better to know the weight and karat value of the old gold jewellery before selling it at the gold shop. If you want to exchange gold for cash, you must calculate the probable value you can get by selling the product. It will help you to do better negotiations more confidently. You can also put your objection and move on to searching other suitable gold shops if they offer less price or try to deceive you.

  • Buyers Should Not Force to Sell

Many times buyers force to sell the product at a much low price than the actual market value. Being unaware of the actual value of the product in the market, you might become impulsive to sell the product and get cash to meet your urgent financial need. We encourage you to not fall prey to this trap. Take your time to do basic in-ground research about the value of the product and its price in the present market scenario. The online platform offers all the required information to calculate the value of the old gold jewellery if you know the value of karat and the weight of the product. Sell the product if and only if you get the price in the expected pricing range as per market value.

  • Seek Out the Highest Offer Possible

We encourage you to visit more than one gold shop to know the actual price offered in the market. You must choose at least three old gold jewellery buyers and negotiate with them to know the price they would offer. Remember that they will not be able to state a fixed price mostly but will offer a price range. The pricing will be based on the melted gold and not on the actual old gold jewellery. Until they melt the old gold jewellery, they would not probably be able to quote the actual price. Therefore, you must look out for opportunities to exchange gold for cash among the buyers.  The buyers must offer the highest price range before melting the ornament.

  • Do Not Act on Impulse

If you want to sell gold for cash online in Kolkata, do not act on impulse. There are many gold shops available online which will offer high prices in exchange for the old gold jewellery. But in the end, it will disappoint you if you receive less value. The process involves a physical examination of the gold jewellery, measuring its weight, identifying the karat value, measuring the alloy present, and others. Based on these assessments they can offer a value of the gold ornament. Otherwise, it is always better to stay away from any easy solution.

  • Separate And Organize Gold

The value of the gold jewellery you will receive will depend on the weight and amount of melted gold. Any studded crystal or stones will not be counted to calculate its value. Therefore, it is better to separate the gold from any stones or crystals studded in it before approaching any shop to exchange gold for cash.

  • Documentation Is Must

Once you have determined and identified the gold shop to sell the jewellery, you must take picture of the jewellery. If you ship the jewellery to other locations, do not forget to attach a return receipt and tracking number. Also keep intact all the bills, documents, certificates, and other information related to the product.

  • Read Buyer Policy

If you ship the product to any location for selling it in exchange for cash, you must read the buyer policy carefully. Note if they will take responsibility in case of loss, ill-management, or others. Check if they offer insurance or any other facility as contingency norms.

The above tips help to make the right choices. It depends on you to take the right step to sell precious gold jewellery. Its value cannot be associated with only the price. The process of exchanging gold for cash is considered an investment opportunity. Here you can earn from the appraised value of gold. Remember that it is always favorable to sell gold when it has a high market value. Otherwise, waiting for the right time to sell it is always a feasible solution.