Making money from gold jewelry: Tips to get started

Are looking to make some money with the tangled mess of gold jewelry in your jewelry box? It’s much easier than you might imagine. There are a few tips you can follow to make sure you get the most for your jewelry.


The first important thing is to know how much gold you actually have. Most jewelry isn’t made entirely of gold. There are other metals mixed with gold to make it more durable. The maximum purity of gold is 24 karats. Most jewelry is made from 18 karat gold and less. You will probably come across more gold jewelry with a karat value of around 14 to 9 karats.  If 24 k is 100% gold then in order to get the percentage of gold with a 14 karat purity you need to divide 14 by 24 and multiply it by 100. This will give you a percentage value of 58.33%. The higher the karat value the higher the percentage and the price you can expect to get for your gold when you sell gold jewelry Melbourne.

The karat value is always engraved somewhere on the piece of jewelry. However, with time and wear and tear, the engraving can fade and you may not be able to make out the engraving. If this is the case, you should take your jewelry for an appraisal. Why is it important?

Gold jewelry buyers pay not only by purity but by weight. You might have jewelry that has intricate designs or precious stones. You will want to get the true value of the jewelry. You might have antique pieces whose value will be based on more than just the purity and the weight of gold. Getting your jewelry appraised and certified might help you get a nice price for it.

Knowing the best time to sell

There are a lot of factors that drive the price of gold. When it comes to selling gold for the best price, knowledge is a powerful tool. The simplest thing you can do is to keep track of the market price of gold. It might not be what you will get offered but it will give you an idea or a frame of reference when you find yourself having to compare offers from various gold jewelry buyers. You might also be able to deduce where the gold price is headed. Already in the last two years, the price of gold has hit $2,000 an ounce. It has been gaining steadily proving its worth as a safe haven, however, experts believe that gold is not done rising and that it might even high levels of $4,000/ ounce by the end of the year. So, before you sell gold jewelry, watch the price of gold and the market fluctuations to decide when it’s the best time to sell gold jewelry Melbourne.

Know the best gold buyer to sell your gold to

You’ve probably seen a lot of advertisements about people wanting to buy your gold.  The truth is, there are lots of people who want to buy your gold jewelry. The options available to you are many but you still need to do some research about these gold jewelry buyers and to know what your jewelry is worth so you know when you are being underpaid. Check the reputations of these buyers and compare the prices they offer. You might be selling gold jewelry you no longer want or that is damaged, it still has value and you should do all you can to get the best price for it.

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