Selling Gold

The question of where to sell gold depends on where you can get the best offer for it. It is clear that many people selling their jewelry to pawn shops or jewelry retailers are getting a poor deal.

To edit your entry just re-insert it; it will be amended automatically. To delete it see below. You can also try craigslist which is free. Selling gold as estate jewelry and direct to a buyer will give you the best price, and you should be able to get close to the current price of gold . We conducted a poll on the price that people would pay for a 14k gold chain which contained $1000 worth of gold. $981 was average price given by more than 500 respondents to the poll.

You need to be aware that selling gold by credit card or paypal carries a risk of fraudulent charge backs. You should contact the vendor by telephone and ask her a few basic questions as a minimum precaution.

Bear in mind that the price you paid for your jewelry is about 5 times more than what it cost the store you bought it from.

To find out how much your gold is worth use our precious metal calculator.

• Think twice before agreeing to drop your valuables in a regular mailbox. There may be no record or proof it was mailed.
  
  
• If you sell jewelry or gold frequently, it may be in your best interest to use a scale to weigh the metal or buy a gold or diamond tester to see how it is marked.
  
  
• Be wary of advertising you have something worth lots of money inside your house.

Other Auctions

Other types of auctions are even more expensive. Most auctioneers charge a 10 - 20% selling fee. They only get the fee if they manage to sell the item so they will usually price it sufficiently low to be sure of getting a bid. Auctioneers also charge a buying fee, so they can make up to 40% of the value sold in fees.

Jewelry Stores

TV Gold Buyers

Not so long ago, Fox news put together a kind of undercover sting, where they brought in three of the same amounts of jewelry to three individual cash for gold businesses and waited for their payout and while all of the companies did in fact give them a payment for the broken gold, only 1 of those cash 4 gold companies actually submitted the current market value while the other cash for gold companies payed out one third of today’s real value. The other 2 companies that payed 30% of the real value were acting as middle men while the 3rd cash 4 gold business that payed the current market value did have their own precious metal refinery.

The fact is, gold brokers are nothing more than a go-between, between you and a precious metal refinery and as a result they will pay you approximately one third of the market price for your gold, silver or platinum and easily trade it back to a gold refiner themselves thereby keeping the larger share and you get a few measly dollars.

A study by the British magazine Which found that on average, TV gold buyers offered around 6 per cent of the retail price for gold, while high street retailers paid around 25 per cent.

Pawnbrokers

People are usually down and out when they have to stoop to use a prawn broker. The pawnbrokers see the blood and go for the throat. You will be lucky if you get 30% of the value of your item if you sell it to a pawnbroker. They also charge 25% interest every month...so forget about ever getting your jewelry back.

Selling Gold in Thailand

Gold shops will buy gold jewelry from you at the spot price of gold ie the price of the piece you bought less the design fee although some shops try to give you less. You generally get the best price by selling it to the shop you bought it from. If you exchange  you will be charged the design fee for the piece you bought. If you exchange it only a few days after you bought it, you will probably not be charged anything.

Selling the gold outside Thailand should be no problem. Selling it just as scrap, you will get back the spot price of gold at the very least.