What You Should Know About Selling Gold

What You Should Know About Selling Gold

Whether you’ve inherited an estate including gold and diamonds, or you’re cleaning out single earrings missing their mates from your jewelry box, saying goodbye to unwanted gold and diamond jewelry can be a rewarding and lucrative endeavor. Remember the saying that one person’s trash is another person’s treasure? This is especially true with something so valuable and appreciated across cultures, language barriers, and throughout time. Make the most of your gold and diamond transactions and ensure that your sale fetches a fair price, with Lux Bond & Green’s top tips for selling gold and diamonds.

Part Smart with Your Gold

While the dollar value of gold has held strength over millennia, emotional value is much harder, if not impossible, to measure. Only sell gold when you are in a clear mental state because once you decide to turn a memento into a business transaction, you will only have its memory plus its worth in dollars. Impose a pause or entrust a best friend to hold your gold if you’re going through a breakup or mourning a loved one, as these are potentially not the best moments to sell. You’ll make better choices when you feel most like yourself, and you’ll also have a more positive gold selling experience.

Knowledge is Golden

First, understand that not all gold will be valued equally. The higher the karat number, the purer your gold object is, and the higher its quote price. Therefore, 24 karat gold is most valuable, followed in decreasing order by 18, 14, and 10 karats. Lower karat gold jewelry is fused with alloys of other metals, which increases jewelry’s durability and affordability. However, alloys hold nowhere near the value of gold.

Is the gold you intend on selling a designer piece of jewelry? Does it demonstrate a one-of-a-kind technique? Is it a rare antique? If you answer “maybe” to any of these questions, our experts can answer your questions. Our professionalism will help you earn more from a unique piece of jewelry because of its age or special qualities than from its karat weight alone.

Choose a Reputable Buyer

Most people do not sell a significant amount of gold during their lifetime. A great uncle’s watch and an inherited necklace do not make anyone an expert. The best way to assuage any worries about being taken advantage of is to find a gold buyer with a reputation for fair and honest business practices. Lux Bond & Green offers appraisal services and purchases gold and has been doing so since the days of horse-drawn carts.

Reputation can also be gauged by a business’ transparent commitment to corporate responsibility. Membership to standards-setting institutions is a great way to tell whether a jewelry company is meeting best business practices. Lux Bond & Green helped form the Responsible Jewellery Council in 2005, which endeavors to promote responsibility along each step of the jewelry supply chain. Organizations like these uphold positive environmental and social business practices, which Lux Bond & Green embraces.

Make More For Your Gold

Imagine if you could make back even more than your gold is worth and put that money into a new purchase. Lux Bond & Green offers just this, with a deal that returns 10% extra. We will pay an additional 10% more than the value of your gold sale in store credit.

Documentation is Power

You've heard that a picture is worth a thousand words. Always remember to photograph all gold that you intend on selling. For example, the photos you snap after a fender-bender might feel embarrassing as you take them, but when you must share the news with your auto insurance agency, you’ll want to paint the clearest picture of the incident. Photographs of your gold jewelry serve a similar purpose. If you need to make any claims on the condition of the gold during the selling process, photos will come in handy.

Planning to ship your gold to an appraiser or buyer? Again, sharing photographs ahead can help your buyer understand what to anticipate. Always purchase insurance and tracking on your package, regardless of how far it may travel. Incidents of theft or damage pose a risk factor no matter how much care you take, but if you have photographic proof of the contents of your package, you have a better chance of submitting and winning a claim should the worst-case scenario occur.

How To Sell Gold

It’s simple! Bring your unwanted gold to Lux Bond & Green for a smooth and memorable gold selling experience. Our certified gemologists, registered jewelers and professional service and sales staff will make you feel at ease every step of the way. Make an appointment at one of our brick-and-mortar stores in Massachusetts or Connecticut to not only sell your gold, but to browse any new additions you may wish to acquire, from gold necklaces to gold earrings, rings, bangles, and more.