As a seller, you should understand that you will never be paid the exact value of the market price for your gold jewellery. You should understand that the gold buyer has to make a profit to stay in business. They aren’t speculators just holding on to gold. They don’t have the luxury to sit for years waiting for gold to get to a certain point. They need to move their gold and not stockpile it. Anyone selling gold items of any kind has to understand that they will be doing so at a discount. The trick is to find the right gold buyer for your particular gold and the buyer should be willing to pay a fair or competitive price for your gold. What is the best price? Pricing depends on many factors from purity to weight to the condition of the gold. How do you know that the price you are getting is the best price you can get. You need to take your gold to several different gold buyers in Melbourne. To know what the best price is, you need to try and work out what the price should be, this means you need to know how buyers come up with the prices they do. Calculating the price of your used gold depends on a lot of factors.
When it comes to quality, the higher the quality, the better the price will be. 24 karat gold is the purest form of gold and should fetch a higher price compared to 10, 14 and 18 karat gold. The other karats are low because they have been mixed with other metals. Buyers that consistently buy gold in bulk will separate the gold according to karats and then weigh them. This is often the case with gold jewellery but things are different when it comes to bullion coins and bars. Bullion coins for instance are usually issued by and guaranteed by the government. Their quality and weight are usually engraved on them which makes it easy for bullion buyers to speed up the transaction process.
Fine jewellery comes with hallmarks stamped on them. The quality of gold is also indicated on the gold piece. Group the jewellery that has visible markings. Those pieces that don’t have karats clearly visible on the inner, discrete space should be grouped separately to test. Separating the gold you have will give you a better idea of the kind of gold you have and the amount of money you can expect to get for it. Separating karats makes the whole process of selling and buying faster.
The next thing that you need to do is to remove any inlaid stones. Gold buyers don’t usually include precious stones in their appraisals, so it is best to take the stones out. Precious stones involve a different kind of market altogether. Furthermore, gold and precious stones don’t mix in the melted gold. They won’t parly for precious stones. Gold pieces with gemstones might be too complicated for buyers to deal with.
Not all gold jewellery that looks like gold is not made of real gold. Sometimes, what convincingly looks like real gold might turn out to be platted or filled with this precious metal. Gold buyers in Melbourne will not buy plated or gold-filled jewellery, these aren’t worth much anyway.