Gold is one of the oldest currencies known to man, and way before paper money made the economies of current powers the difficult-to-manage entities they are today, gold was the general way to buy food, animals and even services.
Of course now, gold is important too, but for many people using credit cards, paper money and even banking applications on their phones, gold has become a wonderful and precious substance to wear, rather than to use in trade.
The gold price is a huge influencer of the money you get when you sell your precious metal to jewellery buyers. For many buyers who purchase your jewellery, melt it down and resell it, the gold price is the standard by which they pay you.
This means that if you have gold jewellery to sell, the current day’s price of gold will determine whether you come out on top of not. For the savvy consumer, the gold price should be an indicator of how much you can get when you sell your precious items.
If the gold price happens to be high, visit the buyer and make it obvious that you understand the influences of the gold price. If they don’t give you a great price, try another.
So what happens when you want to sell your gold online? When you sell diamond jewellery, the price will usually not fluctuate, but gold is quite different. So if you have to post or courier your gold to the reseller for an assessment, which day’s gold price applies?
Most live by the general rule that the day on which the reseller gets the gold is the day on which it is assessed, and thus, that day’s price applies. Others are of the opinion that a date should be agreed upon beforehand, so that all expectations are met. This is something you may need to negotiate with the reseller.
Be aware that when selling gold, you should not try to dilute the sale with any other precious items. You may want to sell a diamond ring with your gold necklace, but this will bring down the total price. Similarly, if you want to sell diamonds still in their settings, get them removed from their settings and sell the gold and the diamonds separately.
It goes without saying that you should only trust a reliable reseller, such as Liquid Fin, so that you get the best advice along with the best price. Stay informed and always keep an eye on the gold price. Finally, remember that you need not sell today what you can make a bigger profit on tomorrow. Happy selling!