How Much is Your Old Jewellery Worth?

Do you plan to sell your old jewellery? Plans of what you will do with the money may need to be put on hold; just because you think its valuable does not make it so. Certain factors affect the value of gold and silver jewellery. Consider these factors before you sell your old jewellery.

Get an Appraisal

The first thing to do if you plan to sell your jewellery is to have it appraised. An appraisal will let you determine the value of your gold or silver. Once you determine the price, it is easier to find a market or potential buyer.

An appraisal will also give you a reality check about the true worth of the jewellery you want to sell. If it is too expensive, you might reconsider selling them. If it is too cheap, you might as well keep them or manage your expectations.

The Value of Gold

The value of gold tends to increase during an economic downturn. It is also a recyclable material because of its malleability and resale value.

Before you sell your old gold jewellery, you have to consider the weight of its gold content. You might be thinking of X amount of money you will make from selling, but the jewellery you have lacks the gold content to reach that asking price.

The gold content of jewellery is measured in karats; solid gold jewellery is 24 karats. Items that are below this number contain less gold and other hardening materials. Buyers who know what they are looking at will only pay for the gold content and only very few will consider other metals with it.

A beautifully crafted piece of gold jewellery may have higher value as estate jewellery rather than as recycled gold. Have your jewellery appraised to know its resale value.

Get Real

Most pieces of jewellery lose value after you buy them from the store. It is good to know all the factors before you decide to sell your old jewellery.

Identify Your Market

After determining the value of your jewellery with help from an appraiser, start looking for potential buyers based on the gold content and artistry used. If the price is high enough, you might want to consider selling at an auction or at a shop like Colonial Acres.

Consider these before you decide to sell your jewellery. Determining the price of the jewellery you have will enable you to find the right market and set your expectations.