Today, there are lots of mediums to sell your gold. Thousands of websites are opening on regular basis and advertise that they are best buyer. It’s really matter to have good information about your jewelry dealer. This is crucial to reduce the chances of scams.
You should have basic idea for the selling process. This includes the karat evaluation of your items. Karat is the analysis for gold and alloys. It measures what percentage of alloys mixed with gold. If the percentage is high, the price for your gold will be high.
You can sell the jewelry that you might not wear broken pieces don’t use. They are best items for getting extra cash.
Before selling, you must know the karat of your gold. You may not that by visiting market and asking for different seller. This can save you by scams because you know the value of your gold already. You can calculate your jewelry price on your own. You can use this formula;
Your value = your worth in karat / 24 *100
For this you first need to karat about your gold. Pure gold has 24 karat. If your jewelry has 12 karat then your gold worth will be 50%. This means 500 parts of gold out of 1000. I am sure you will now clear if your gold has only 8 karat; it still be valuable.
Always deal with reputable dealers that have high records of customer satisfactions. This can be achieved through high market search and the internet search. You will find a great variety of jewelry stores, pawn shops or gold dealers, but make sure the company you choose, have no scams before. You should get high knowledge of selected company.
The prices of gold varies on daily basis, when you go for selling gold; be sure gold dealer should quote price for gold by keeping in mind the spot market price.
Thus, if you have knowledge about some basic things about the process of gold selling, you can easily avoid scams. The only matter is to get knowledge about your gold, market and gold dealer.
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