There are times selling jewellery containing gold could be the best way to solve financial issues as anything containing gold is liquid and can be easily converted into cash almost instantly.
Although this may prove to be one of the quicker methods to get our hands on cold hard cash, securing the best deal in order to ensure we make the best out of the deal is not as easy. If we were to look around us we will come to find cash for gold companies at a dime a dozen, however, not all of them ‘wheel & deal’ the same way, meaning some are likely to offer more than others.
For instance, if time was on your side, then selling your old unwanted jewellery that contains gold to high street jewellers or alternatively through online trading websites such as eBay would be the best way to go about selling old unwanted jewellery, because the probability of these dealers offering the right price which is quite certain to be fair and just is fairly high.
However, if desperation is part of the equation of the situation that you are in, then looking for dealers who are able to offer instant cash over the counter would be the best way, nevertheless, it does not mean that you should give up your jewellery for a few peanuts.
1. Consider Market Price and Level of Need for Money
If the market price is exceedingly low, then maybe an alternative is to ‘pawn’ the jewellery piece and retrieve it back later when you become financially more stable. If that is not an option, perhaps using your jewellery as collateral to borrow some money from friends or family would be a wiser choice.
2. Never rush a deal with cash for gold companies
When you rush a deal with these people, you game is up, as they would instantly be able to spot your desperation and use it as leverage against you, thus it is always better to take it ‘slow and steady’ when you are negotiating.
3. Know the value of your gold
Find out the true value of your jewellery, take it to a jeweller and get it assessed. Most jewellers will provide this service for free (customer service tactic to attract people and to establish relationships). The weight of the jewellery, the hallmark and the karat % are the primary elements that determine the value of your jewellery piece apart from the market price.
4. Haggle with your life
When you deal with any cash for gold companies, haggling is your best weapon, and do not be afraid to haggle when you know what they are offering is lesser by 30 % of the value of the gold content in your jewellery. A good reasonable offer should be 80 % and if you are able to get more than that, then you are a champion!