It’s the time of year where people are often keen to free up some cash by selling the jewellery they either haven’t worn in years, inherited from a relative and have never worn or, dare we say it, received for Christmas and don’t really want to wear. Because the price of gold is constantly fluctuating and some jewellers (not us, clearly!) can be unscrupulous when it comes to offering the cheapest price to buy jewellery, it can be difficult to know how to sell it to get the best price. To give you a starting point on selling your jewellery for a good price, here are a few things to think about.
Know What you Have
We have all seen those adverts for companies that buy old gold for cash. These should never be your first port of call when it comes to selling unwanted jewellery as they are only looking for gold to melt down and aren’t interested in the value of the piece as a whole or any gem stones it contains. That is why it is important to have an idea of what you have so you know where to start looking for somewhere to sell it.
Know Your Gold
Gold items will vary greatly in price depending on the fineness and weight of the gold and the quality and size of the stones. Determining these yourself can be very difficult as normal scales are rarely accurate enough to give you an accurate weight but you can get a very rough idea. Similarly with the quality and size of the stones. There are lots of websites that give you an idea of what to look for in gemstones but it is unlikely that you will be able to establish anything more accurate than a ballpark figure. The fineness of gold, however, is a known quantity as it is shown in the hallmark. Look for the numbers 375, 585, 750 or 916 as these refer to the amount of fine (or pure) gold each piece has in grammes, e.g. a piece stamped with 375 will have 3.75 grammes of fine gold. You can use this measurement to calculate a very rough idea of how much that gold is worth by looking at the current price of gold which is given as a value for pure gold.
Because this is all rather mind boggling and, if your jewellery is particularly attractive or interesting, the value you get for it could be far more than its constituent parts anyway, an easier way of getting a fair price is simply to get quotes from different jewellers.
Ask Trustworthy Jewellers
A way to ensure the jewellers you speak to aren’t all money grabbers is to look for jewellers who are registered with the National Association of Jewellers as they will have to adhere to a strict code of ethics. Jewellers who are registered will display this information on their websites or on their signage.
Obviously, we would like your first thought, when you’re considering selling your jewellery, to be to come to James Ross Jewellers so we can give you an honest offer. We are registered with the National Association of Jewellers and have a long standing reputation for decency in buying people’s jewellery for a fair price. If you would like us to give you a no obligation quote for buying your jewellery, please come into the shop so we can take a look or give us a call on 01273 289 041.