One thing that you need to keep in mind when you are looking to sell gold chains now, a lot of the time when you go to sell the chain on to a jewellery store, pawn shop, or somewhere else, you are most likely only going to get the market price for the weight of the gold. When you buy jewellery from a jeweller, there is often a high mark up on the actual worth of the raw materials. This means, when you go to resell it on, you are most likely not going to get what you paid for it.
Get an Appraisal
There are many jewellery stores who will offer a free appraisal of your jewellery, so this is a great way to find out the value of your gold chains, or other jewellery. You will need to make sure that they are giving you a resale appraisal, rather than one for insurance purposes as these will differ. Get as many appraisals as you have time for, as you may see some difference between them. This will then give you an idea of the market value of your gold chain.
Look at the Market
Once you have your appraisal, you will need to keep an eye on the market price for gold. If there is a big increase, or decrease, in the value of gold, this can significantly affect the value of your jewellery or gold chains. The higher the price of gold in the market, the more you will get for your items, so sell when it is high, buy when it is low. A lot easier said than done!
Check for Damage
You will need to make sure that your gold chain has no damage, or is tarnished anywhere before you get ready to sell it. This is also a service that most jewellers will offer as you will be able to get minor repairs made, as well as the gold cleaned, and polished. If you will be reselling your gold chain to a pawn broker, gold dealer, or a jeweller, this may not be worthwhile as it will not increase the amount you get for the item of jewellery. However, if you are looking to sell this privately, then is can have a big bearing on the value.
Selling you Gold Chain
There are many places where you can sell your gold chains, jewellery, or any other items, quite easily.
- Pawn Brokers
- Gold Brokers
- Jewellery Stores
- Antique Stores
Going to any of the top three of the above list, will mean that you will most likely only get the scrap value for the precious metals and stones, but it is a good way to sell your gold chain right now, and get some quick cash. You may actually sell gold scrap in Melbourne if you wish. And if you have a bit more time, then you may wish to advertise in the local classified, or even online. There are many auction websites that you can use, but you may end up selling for less than you hoped if you do not put a reserve on the sale. Have a look on the internet and look for jewellery forums, as you will most likely be able to join and advertise you item there. This may end up getting you a better price than at a pawn broker!