Maximising Profit: Top Strategies for Selling Jewellery

by | Dec 12, 2022 | Jewellery, Jewellery Buyer

Gold is precious. We always share a close connection to our metal pieces of jewellery. We develop certain emotional bonds with our jewellery pieces, be it our own, or we inherit from any of our close ones. At times, this gold jewellery comes of great help when you are in need. It happens that you no longer like a piece of your jewellery that was once your favourite, or you might require immediate monetary resources. In such cases, selling your jewellery is the most convenient option. Buying and selling old gold is a bigger platform, as not everyone likes to keep their old jewellery for a lifetime. 

You should know there is a substantial financial opportunity, and you can enjoy a lucrative outcome from selling your jewellery. To determine the best profit range, you must follow specific factors while selling your jewellery. It is wise to sell gold for cash in Kolkata with Cash On Old Gold to get the best price. 

In India, when people need cash, they mostly turn to monetise their gold jewellery to get instant cash. In most cases, we have observed that the money encashes in selling gold jewellery is much lower than one’s expectation. In order to avoid any disappointment, you can check the following strategies.

Let us have a thorough discussion on the points that you need to focus on,

Tips And Strategies to Follow While Selling Jewellery: 

1. Research Gold Price in The Current Scenario

It is good to note that the price of gold is never static. The interaction of global demand and force decides the price. Factors like economic stability, political stability, and inflation contribute to the changing price of gold. 

If you want to sell gold, you need to get a clear picture of the current gold rates. You can then use that as a standard price to assess how much your gold is worth on the market. You need to have the right information to avoid the risk of falling prey to fraudsters. It only needs knowledge and awareness about the current market prices to get a fair deal. You must do a comparative analysis of your options. Various buyers have different criteria to determine the price. Your objective is to get the best deal. 

2. Check The Purity of The Gold 

Before you sell, check if your jewellery meets the hallmark standard. Hallmarking reflects the purity of the gold jewellery. Any gold jewellery with a 916 hallmark means 91.6% purity of gold for 22-carat gold. Jewellers would prefer a 916 hallmarked gold over a non-hallmarked gold as there is no authenticity or purity. 

Now, for the jewellery that does not carry any hallmark sign, take it to a store with a carat metre that establishes the purity of gold. If you want neutral ground, you can contact us at Cash on Old Gold; one of the leading Gold jewellery buyers in Kolkata, to sell your valuable gold jewellery. 

3. What Is the Actual Worth of Your Jewellery Piece?

It is essential to clearly understand the worth of the gold you intend to sell. For this reason, you can take quotes from various shops of your preference. Since there is no standard method to determine the selling price, there is quite some difference between the quotes you have. You can opt for 3 to 4 quotes to feel satisfied with the value of the jewellery and settle for the highest price possible for the piece you will sell. 

4. Keep The Invoice Carefully  

The jewellery shop that buys always wants to check the purchase document or invoice when you sell jewellery. It is to prove whether the piece of jewellery you bought is authentic or not. When you have the original jewellery document, you can also claim the most deserving price for it. In this case, the buyer won’t be in a position to contest as the details will be clear in the bill of purchase.

5. It Is Essential to Determine the Final Price of Your Gold Jewellery

Jewellers like Cash on Old Gold take old gold and melt the jewellery in an induction furnace. After thawing, the remaining gold is entirely free of impurities or contamination. It decides the ultimate price. The gold buyers perform this process at a nominal cost and deduct the price from the final gold price. The deduction mostly ranges between 4% to 6%.

In some cases, stores already decide a selling price for every 10 grams, just like they do for the buying price. Usually, the selling price tends to be lower than the buying price by 6-7%. Finally, in selling gold jewellery, the making charge does not come under consideration as it was necessary during the purchase. 

6. Consider Current Time Scenario

As gold prices fluctuate a lot, you must consider selling your old gold jewellery when the rate is at its peak. In addition, when the demand for gold is considerably high, that is the best time to Sell gold for cash in Kolkata. The tip seems to be easy. The accurate assessment of its market selling price is dicey. You must use your market research and intuition when selling your favourite jewellery. 

7. Don’t Settle for A Lower Price 

After researching the current market gold selling price, you can determine the average price you want in return for your gold. At this point comes the negotiation factor. After all, it is a business transaction. You want the buyer’s offer to be somewhat close to the rate you wish out of the sales. But if the price you want and the price you get from the buyer are not even close, you need to think once again. 

8. Where To Sell Your Jewellery?  

The most convenient option is to go to a reputed jewellery shop like Cash on Old Gold, one of the leading Gold jewellery buyers in Kolkata, where you can get the highest price. Still, there is a slight downside. In India, gold buyers and pawn shops are the ones where one goes in an emergency. Chances remain high that these shops often indulge in malpractices, and one might receive a lower price for a piece of jewellery. 

To Conclude, 

To maximise profits from selling your old gold or unwanted gold jewellery, the most crucial aspect you need to do is to conduct proper research. You must conduct thorough research to establish the facts and use them in your favour. In the entire process, you must keep patience. There are numerous scammers in the current market seeking opportunities to deceive you. Hence, it is a must to be careful to dodge any fraud. You can check and read the clients’ reviews on the web pages or social media pages of the gold buyers. You can consult our Cash on Old Gold professionals to get more insights and suggestions.