Gold Selling Tips - Old Jewelry
February 6, 2023
DD Planet
Selling old jewelry is common. When we go to a jeweler we come across many types of offers. Some of them appear lucrative as well while in reality they may not be so.
Here are the tips to help you get the best deal:
- If you’re sure about your gold quality, do not go for a standard deduction or physical verification. Choose process 2, i.e. melting and measuring purity. You may gain a significant amount by doing this.
- The purchase price offered by a jeweler should not vary more than 150 INR from the selling price, i.e. if their selling price of 22 carat gold is 4900, their purchase price should be in the range of 4750-4900 INR.
- Be attentive and careful when the melting process is carried out. Do not be shy. Remember, the weight of a jewelry item shown before melting and after melting does not differ much. Generally, the loss occurred during melting is hardly 0.1 to 0.2 gram per 15 gram of the gold item. Therefore, be extra careful during measurement.
- Ensure that during melting, the person performing the melting does not try to hide a tiny part of your gold. Keep your eyes wide open.
- If you are selling a large amount of gold or purity of your gold after melting comes out as less than 18 carat, better take a chance with purification. In the case of purification, the gold that is obtained after the melting process is purified to convert it into 24 carat gold and what you obtain is the gold in biscuit form bearing a hallmark 999 purity. Of course, the weight of gold during purification will reduce depending on the purity and thus needs some additional caution and experience.
- American diamonds, stones et cetera shall be removed from your jewelry item and have no resale value. Only diamonds and gems command a price. Thus, the weight of only gold will be considered and you may also see a very slight fall in the weight due to wear and tear/ polishing over a period of time when compared to the weight of gold that you had bought.
For preliminary details, one may refer to another article posted in the Criss Cross section of Writing Corner by clicking here.
