Now that we’re in summer, you might spend your days dreaming of a lavish summer vacation somewhere exotic with crystal clear waters or a colorful city rich in culture. Although your bank account might not coincide, there are ways to make a little extra cash easily. By selling your old gold jewelry you could turn your dream vacation into reality.
Efficency is Key
Instead of rummaging through old clothes to take to consignment and walk away with $50-$70, consider going through your jewelry box to find things you don’t wear and don’t have sentimental value (although grandma might not be all that upset that you sold her old gold jewelry that you never wore to take a much needed vacation to somewhere on your bucket list). Here are some tips from a master jeweler about selling your gold and used jewelry.
Know what you have
Gold comes in different karats, 10, 14, 18, 22 and 24. Most jewelry is 14 karat, but gold jewelry can often be made with 18 and 22 karat gold, meaning they are made up of more pure gold and less alloys than 10 and 14 karat gold jewelry. You should know what your gold purity is before you plan on selling it, but if you don’t, the jewelry experts at Les Olson jewelers can help you identify your old gold jewelry. If someone buys your 18 karat gold ring as a 14 karat gold, you could be losing money. Most jewelry will be stamped with a number to indicate the purity of the gold. Bring your old gold jewelry into our Palm Harbor studio to have one of our trusted gold experts evaluate it.
Don’t act on impulse
Don’t decide to sell all your valuable gold jewelry just because you stayed up until 2 A.M. on Expedia planning a dream vacation with your bestie over facetime. Take some time to consider what your gold jewelry means to you. Even if you hardly wear it, the diamonds and gemstones may have meaning to your family or be great for repurposing into something special. Take some time to weigh all your options with your gold jewelry.
Weigh your options before selling your gold jewelry
You may see gold rings like the one you have listed for $1,000 on online, that doesn’t mean if you bring it into a jewelry store or pawn shop that you’ll get that much. Most jewelers buy gold jewelry for the market value weight of gold, based on what their refiner pays. Also, the condition of the gold jewelry, diamonds and gemstones, may affect the price greatly. Do your research and consider trying to sell your gold jewelry privately first. To get maximum value of your gold jewelry online, make sure you get nice photos with both a plain background and styled photo with a friend or family member wearing it. If it’s an antique or a valuable piece, we would urge you to get a written appraisal done before seriously considering selling.
Selling gold jewelry most likely won’t make you rich, it can however put a few hundred dollars in your pocket quickly and make your next trip a little more luxurious. Stop into Les Olson Jewelers and ask one of our jewelry experts to guide you on your best option for selling your gold jewelry.