How to Sell Gold Jewelry and Make Money

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By poshadornment
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Sell gold jewelry and make money!

The price of gold is near an all time high making this a great time to sell gold jewelry to make money. Old gold, new gold, white gold, yellow or rose gold…It doesn’t matter what color or when it was made, if you want to sell gold jewelry there’s someone out there that will buy…but beware! Not every gold jewelry buyer will give you a fair price when you sell your gold jewelry. Knowledge is king and the more you know about how to sell gold jewelry the more money you can make.

To learn how to value the jewelry so you get a fair price when you sell gold jewelry, see my article on How to Price Gold Jewelry for Resale. Find the link in the resource section below.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

Gold jewelry to sell
Jewelry pocket scale that weighs in grams and ounces
Jewelers loupe

Step 1

Sell gold jewelry at live auctions - Image credit to stockxchange. com

Sell your gold jewelry at a live jewelry auction where you can set a reserve or minimum price.

Check out the auction house and the auctioneer ahead of time to be sure they are honest. They will take a percentage of the sale as a fee. Make sure you know what your piece is worth for resale (approximately) and see if the auctioneer thinks it will sell at or near that price. If necessary provide the appraisal to substantiate your price. You may have to negotiate a selling price with the auctioneer to set your reserve. And if the reserve is not met, you’ll have to wait to sell it for the next auction or go elsewhere. Live jewelry auctions are the best place to sell because the people that are there want what you have to sell and know the prices and value. Remember many will be dealers and will have to buy for less than you may want when you sell gold jewelry. Be flexible but not foolish in setting your price.
Step 2

Sell gold jewelry on eBay for big money.

List your jewelry on Ebay is also, a great place to sell gold jewelry, but can also be a dangerous place to do so.

There are basically two kinds of buyers on eBay, dealers and retail buyers/collectors. If you have a great piece, hopefully several retail buyers of a combination of both will bid up your item and you’ll get a good price. If it’s just plain gold with nothing exceptional about it, the dealers will be your customers and you’ll get closer to scrap price when you sell gold jewelry on eBay. Unless you know the ropes of how to sell on eBay you can loose your shirt and your items when you sell gold jewelry this way. It’s best to ask someone who is experienced in selling gold jewelry to sell yours for you and again you will have to pay the seller a fee. But you should realize a decent profit if you sell gold jewelry this way.
Step 3

Sell gold jewelry to antique jewelry dealers for cash.

Contact a local jeweler or pawn shop to whom you can sell you gold jewelry.

Here you take your chances and the more you know about the value of your jewelry the better price you’ll receive. You must know how to evaluate properly to sell gold jewelry so you don’t’ get taken. Negotiation is the key and also the amount of time you have. Remember to bring the appraisal with you if the piece is special. Both the jeweler and pawn shop will be buying for resale so most likely will offer closer to scrap price for the item. At least at a pawn shop you will receive 30 days to repurchase your jewelry if you choose to do so and at a reasonable price.
Step 4

Sell gold jewelry for scrap.

Avoid stores that have big signs broadcasting that they buy gold jewelry and also beware of jewelry parties or mail in scams.

Most of the time the best price you will receive is a scrap price or just slightly higher and the actual value will not be taken into account. Again, knowledge of and learning to evaluate your gold first is the answer. Caveat emptor!