Your Jewelry For Cash: How to Avoid the Expensive Mistakes

jewelriesYou go to a gold party, have your jewelry appraised, and sell it right on the spot. You go home with a smile on your face, thinking you took the best value for your piece. Unfortunately, getting your money’s worth doesn’t work that way.

Gold parties are fun and an easy way to sell your gold, but this may not provide you the best deal.

Here are some ways to make sure you’re getting the best value for your gold and avoid expensive mistakes:

Know Your Karats

Pure gold is too soft to use in jewelry, which is why makers combine them with other metals to make the piece durable and more beautiful. To make it easy to understand, 24-karat gold is pure gold. 14K gold means that the jewelry has 14 parts gold and 10 parts other metals.

Jewelry pieces have official markings of their fineness or karat. Find that stamp, so you make an informed decision on the scrap value of your jewelry.

Know the Value

Gold parties are a great way to get some quick and easy cash. It’s exciting and all you think about is fun, that you just sell your item without knowing what its real value is. Before selling it, check the current market price for gold with a reputable source so you’ll get the best price.

If you find that your jewelry is too valuable for dealers at a gold party, sell them to reputable gold estate jewelry buyers, such as

Know What You Are Selling

Some gold items are worth more if you sell them as they are, rather than if you sell them melted down. If your gold bracelet, necklace, or earrings come from a well-known designer or maker, such as Efva Attling, Harry Winston, or Scott Kay, they may have great value to some buyers beyond what your gold piece physically looks like.

Be realistic—gold parties are really more about fun than value, so shop around. You don’t need to jump at the first offer. To make sure you really get the best value for your item, have it appraised and sell them to a trusted buy and sell company.