Use these five pieces of advice to get the best deal when you sell gold for the most cash online. Even though selling your old gold jewelry can be an easy and quick way to make some money, getting a fair price can be challenging. Fortunately, we can help – take a look at these five tips to get the best deal while selling your gold.
The laws of supply and demand state that the prices will increase if the demand is greater than the supply, all other factors being equal. History has shown us that the demand for gold, and the gold price as well, has been increasing during financial crises and times when there’s more uncertainty in the world. Therefore, it might be a good time to sell gold during this kind of time.
That being said, please keep in mind that it’s challenging to predict future prices of any commodity and that the past performance doesn’t guarantee future performance.
2. Online vs. Offline Dealer
There are several pawn shops and dealers on every corner that would like to buy your unwanted gold items, but as they have high overhead costs and physical locations, they cant offer you the fair price.
Another option is to sell gold online. However, it’s usually either risky or time-consuming. Risky, because you may end up dealing with a dishonest company. Time-consuming, because usually you’ll need to spend hours on research to find legitimate and trustworthy companies.
If you want to save some time, see some trustworthy websites that have done extensive research and written tutorials on where you can get the most cash for gold. Read more.
3. Calculate Your Gold Market Value
Before you sell your gold item, try to find the value of your item based on the current gold market price. Please bear in mind that you’ll never get the current market price for your gold, because even online dealers charge a small margin, but it’s essential to be aware of the market value.
If you are using a cash-for-gold online company, always get a valuation first. In this case, they’ll make you an offer, and if you think it’s a low offer, you can decline and get your item back. There’s also a chance that they’ll reconsider their offer and improve it a bit.
4. Jewelry vs. a Bar of Gold
In most of the cases, cash-for-gold companies are interested in the gold value as a precious metal. This means they are not adding your item any extra value because of the beautiful form or aesthetical value if might hold.
Therefore, if you feel your item has a high value because of the craftsmanship and you could get a higher price for your item if you position this as a piece of jewelry, you should look for the best places where to sell jewelry online.
Another case when you should consider looking for other places where to sell your gold items is when you suspect that these are very old and rare and could have extra value as an antique. In this case, you should contact some collectors or post your item to some online platform, like eBay, and see if you’ll get better offers than from cash-for-gold companies.
5. Reputation and Trustworthiness of Dealers
The final step before entering into a transaction with a cash-for-gold company is to research their reputation and trustworthiness. People’s reviews and comments may reveal their bad or good experiences with companies that teach you a thing or two to be aware of during the transaction.
Several websites have done extensive research, tested and reviewed multiple cash-for-gold online companies, and gathered other users’ comments about their service. For example, OnlineMoneyPage is a great free resource website that has gone the extra mile to research those companies in depth.