Selling Gold Jewelry? There are 3 Things You Should Know!

Many people are left with jewelry that they are no longer interested in keeping. Perhaps it was inherited from someone who had very different tastes, or maybe it's a gift that doesn't suit your needs. Whatever your reasons are to sell gold jewelry in Edmonton, it’s important to take steps to make sure you get the right price.

Learn three things you should know to protect your best interests when selling gold jewelry.

Know the Difference Between Edmonton Gold Buyers and Jewelers

There has been a rush of gold buying stores popping up in recent years. So many, in fact, that it is hard to keep track of their comings and goings. While many jewelers are gold buyers, most gold buyers are not jewelers. Knowing the difference is a crucial step in protecting yourself when selling your gold. A gold buyer wants to buy your gold; a jeweler seeks to build an ongoing relationship with a valued customer.

Work with Reputable Jewelers

When you choose to work with a reputable jeweler who can buy gold, you are working with a professional who is trained to have a thorough understanding of the value of your gold. You also have the benefit of someone with a vested interest in maintaining their professional reputation. After all, a jeweller's reputation is their number one marketing tool. When trying to sell gold jewellery, a jeweller should be your first stop. When they provide a reasonable valuation for your gold, remember that it is the opinion of an expert who knows a thing or two about the value of gold!

How Much Can You Expect to Get for Your Gold Jewelry?

One commonly cited metric when determining the value of gold is the current price of an ounce listed on the stock exchange. If only it were that simple! It’s important to remember that gold is a very soft material. To make it more durable, gold used in jewelry is blended with other metals to form a metal alloy. Common materials used in the making of gold jewelry are silver, tin, nickel and even titanium.

This blending means that jewelry made of pure gold is rare. 10 karat gold is only about 40% gold, while 14 karat gold is just under 60% gold. When you are selling gold jewelry, it is generally only the weight of the gold that is considered in the valuation of the sale.

Selling Indian and Middle Eastern Gold Jewelry in Edmonton

When it comes to Middle Eastern gold jewelry and Indian gold jewelry, special handling is required. In everything from bangles to necklaces and sets, gold jewelry from these regions is usually of a much higher carat than what is sold in Europe and North America. However, it may be incorrectly stamped or not stamped at all.

In many cases, customers trying to sell their jewelry are frustrated when the best offer they can get is based on the price for 18 karat gold. Owners of Indian and Middle Eastern gold can take comfort in the knowledge that we have state-of- the-art technology to accurately determine the purity these items to offer you a fair and reasonable price for your jewellery. Taking the time to understand what goes into the valuation and sale of gold can help you get the right price for your jewellery. We can help! We serve the community in Edmonton, Alberta from our storefront location at Bonnie Doon Shopping Centre. Customers from anywhere in the world can browse the Gold Star Jewellers collection at the online store on our website.