Spot Price of Gold $1107.3
  

Selling Gold

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

You can sell your gold on this site for free using the form below.

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Please give a description of the piece you are looking to buy/sell

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 direct to a buyer will give you the best price, and you should be able to get close to the spot price of gold or even higher. 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.

If you cannot find a buyer your best bet is a gold refinery who will typically pay you around 95% of the value of the gold they extract from your jewelry. For a single piece of jewelry they will give you around 92% of the value of the gold. The turnaround time is between 3 to 12 days.

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

Selling Gold on Ebay

It is possible to sell gold on ebay. The problem with ebay is that their fees are so high. You have to pay an initial Insertion Fee and a Final Value Fee of 5.25%.  For some products this is not significant, but for gold jewelry, where the cost of the metal  makes up most of the price, it becomes an important factor. If you pay by Paypal there is an additional 2.9% you need to pay in order to fund your Paypal account.

The total costs of buying a piece on ebay and using paypal to pay for it, all of which must be born by the buyer in some way, can be calculated using this calculator.

One way to reduce the costs is to reduce the price of the jewelry but have a high shipping fee.

Jewelry Stores

A high street jewelry store will pay about 60% to 65% of the day’s gold price for scrap.

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.

Cash for gold
Company Gold retail price £115 Gold retail price £215 Gold retail price £399
CashMyGold £6.43 £9.64 £22.50
Postal Gold £7.97 £10.89 £25.04
Money4gold £8.17 £11.26 See a
Cash4Gold £10.31 £14.57 £31.48
Pawnbrokersb £26 £32 (c) £80
Jewellers £33 £46 £102

Table notes

  1. Demanded £9.95 Postal Order (costing us an additional £1 Royal Mail charge) to return item
  2. Average of three quotes
  3. No quote was provided by one merchant for the £215 item

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.

To delete your details from our database use the form below:

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Your recent comments

I received a 14k gold chain for my birthday. My sister fortunately got the same gift. After a couple of years or so, I decided to sell the present. My sister had the same idea in mind, and we went a nearby auction house for further action. My sister was able to rid her bracelet for a higher price than I sold mine. The same customer bought them, and he said my sister\'s gold was more valuable than mine. Both bracelets did not have any dents or scratches in them at all. I wondered all the way home why my sister\'s gold was more valuable. If you do know, then please contact me at angelress101@gmail.com.

If anyone has any ideas about this please let us know....

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