5 Points To Consider Before Selling Your Gold Jewelry, Gold is not a piece of ornament in India. In fact, it is deeply rooted in our culture and tradition. It is considered to be the symbol of our prosperity and indulgence.
Parents do not gift their daughter gold ornaments for decoration only, but, also keeping in mind the fact that gold can help them to survive at the time of financial adversity.
Therefore, it is quite common in Indian households to see people preserving their gold ornaments for any unseen financial problems.
However, it has been analyzed over the years that in the lack of proper guidance and knowledge people sell their precious gold jewelry at insignificant prices. Hence, to prevent you from selling your gold ornaments at disappointing prices, go through the following mentioned points before selling your gold jewelry.
Possess the Purchase Document of Your Gold Ornaments:
If you are turning to trade your gold ornaments, then a jeweler can ask you to show the invoice of the Gold product or purchase a number of the Gold.
It is essential to preserve the bill with you because the bill contains all the necessary details such as weight, the hallmark of the Gold and karat is clearly scribbled on the paper.
On a regular basis, the worth of the gold keeps on changing as per the alterations in the international market. Hence, you must be conscious of the worth of your gold ornaments before going to the gold shop. Do not accede to sell your gold after talking to a single jeweler.
Instead of that reach out to several artists around your city and based on their offer decide the optimum buyer who offers the best price. Because there is no standardized method available as per now to determine the selling price of the Gold.
Check for The Hall-Mark:
Before proceeding to sell your gold jewelry find out whether your gold ornament is hallmarked or not. Hallmark is a standard method devised by the industry insiders to specify the purity of the gold.
For instance, if your gold bears 916 hallmarks, so it indicates 91.6% purity of gold in 22 karat gold. The authentic jeweler would prefer to buy Hallmark gold and without it, he may refuse to buy your gold.
In case, if your gold is not hallmarked, then, no problem, you can reach out to any jewelry store having carat meter. And ask the jeweler to measure the purity of your gold jewelry.
Parameter deciding the final value of your Gold:
Do you know that first your gold ornament is melted down to wash away all the impurities affiliated with it. And thereafter the remaining pure gold is observed for deciding the final selling price of gold. This whole process further reduces the final price of the gold with minimal 4-6%.
Best Place to Sell Your Gold Jewelry:
It is advised that one should sell his/her gold jewelry at the same place from where one has bought it. Because that jeweler may offer you the best price for your Gold.
However, you can also approach the authentic and leading jewelers of your locality for attaining the maximum amount for your gold jewelry.
Apart from these options, one can also consider pawn shops/ gold buyers to sell their jewelry immediately in case of any emergencies.
However, one should note down the fact that these shops often indulge in malpractices and may offer you a reduced price for your precious possessions.