Selling Gold Jewellery – A Quick Guide

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Selling gold jewellery – a quick guide!  Gold jewellery is a very special kind of possession, isn’t it? It’s value is as timeless as its look and appeal. And then there’s that striking colour and texture that’s unmistakable.

It’s probably fair to say that any kind of gold never fails to impress. However, there comes a time when you must part ways with your gold jewellery in exchange for cash. Life can be unpredictable, but the only thing that is certain is that you’re going to likely get great value out of selling gold jewellery.

Here’s how you should go about it:

First things first: Find out how your gold jewellery is worth.

Gold prices fluctuate frequently. You’re likely familiar with the term ‘spot value’ – i.e. the amount for which a specific weight of gold can be bought and sold at a precise moment in time, this changes by the minute! It’s important to check the price of gold on a regular basis to make sure you’re getting a good price.

It’s equally important to understand the factors that influence the price of gold at any time – especially supply and demand. To put this very simply: the more buyers there are seeking gold, the higher your gold’s value will be. With that said, the gold market can be complex, so there are many other factors which impact the spot price of gold.

One key thing to remember though is that you are not likely to sell gold at its spot value. After all, buyers also need to make a profit so they will most likely make you a slightly lower offer than the actual spot value of gold.  Most high street shops will offer between 50% and 70% of the spot price of the gold, at GoldMonkeys we pay between 80% and 94%, depending on the weight of the transaction and the type of gold being sold (scrap jewellery/coins etc)!  

And now, with all things said, the big question: Should I be selling gold jewellery now?

It’s worth keeping an eye on the market for a while at least to see how prices shift – this will ensure that you sell at a time when the price appears to be at a comparative high. At Gold Monkeys we offer a ‘best price’ guarantee which locks in that price for you at the latest value. This means that you are effectively immunised against any future negative gold price fluctuations for 7 days. If the price rises during your locked in period, we will pay that higher price, so that’s a good place to start: 0800 688 9230.

How can I value my gold jewellery?

It’s always best to do your own research in order to determine the best time to sell gold jewellery and the offers you can expect.  Take into account the current spot price and the weight and carat of your gold when determining a piece of jewellery’s approximate value.  Generally, the greater the weight of the gold you have to sell, the better the price per gram you will get.  As a reputable valuer of gold and silver, Gold Monkeys is accredited by The National Association of Jewellers, which is another reason why you can trust that you will get the best possible value when selling your gold to us.

We can guarantee that you’re getting the best price for selling gold jewellery online or anywhere, no matter when you want to sell it.

Selling Gold Jewellery - A Quick Guide