For ages, we have used gold ornaments as a way of investment for the future. This thought of turning gold jewellery for cash in the future for a specific purpose is always in our minds when we buy new ones. Hence, selling gold for cash is a common practice throughout the country. Indian market provides a plethora of options to buy as well as sell gold ornaments. But there are some places where you might not get the actual value of the gold; it can be because of the person taking advantage of you choosing the wrong place to sell your gold. If you choose the right place where you can sell your unwanted jewelry for cash then you might end up getting the best value for the item. Here in this article, we have laid out some of the places where you can sell your gold jewelry. Each place mentioned below has its advantages and disadvantages and the place you will choose for selling your ornaments will depend on your situation.
1. PAWNSHOPS
Pawnshops are a good place to sell your gold ornaments when you are in need of instant cash. Otherwise, we suggest you look for other options to sell your gold as these shops are not one of the best to sell your gold. Here you can easily put a price on the gold jewelry but that price might not be huge or near the actual value of the gold. This is because pawnshops buy your old or unwanted stuff at a lower rate to sell its future at a much more rate to earn a profit.
Besides this issue, pawnshops are a speedy as well as a convenient way to earn cash against gold. You can easily find the list of your near pawnshops online we suggest you choose the most trustworthy pawnshop to save yourself selling gold for cash at a lower price. At this point take help from your friends and family and also inform yourself about the market value of the items you are going to sell for instant cash.
2. CONSIGNMENT SHOPS
If there is no pressure to sell gold for instant cash and you have plenty of time to think and plan to sell your gold then we will ask you to consider selling your gold ornaments at a consignment shop. While selling your gold to consignment shops you automatically enter into a contract that you will give a portion of your gold sale to the owner. This selling fee can be around 30%- 40% of your sale.
Under a consignment shop, one thing is for sure you do not have to worry about the value of the gold though consignment shops don’t let a piece go for less than its market worth. Another advantage of earning cash against gold through consignment shops is that you have to sit and wait for your ornament to sell rather than going around from place to place to sell it for its actual worth.
Considering the selling fees given to the shop owner after the final sale is high, in some cases, you may not make more money than you would earn by selling to a pawnshop.
3. ONLINE AUCTION SITES
Selling your gold ornaments and bullion to an online dealer in exchange for cash is one of the most efficient ways to earn some instant cash by offloading some unwanted ornaments. As the world is becoming digital there are plenty of dealers or consumers who are willing to buy used or vintage gold stuff online. This is the easiest way to sell your gold for its actual worth and you skip losing its worth as we do while in consignments shops.
The most accurate site for this would be eBay. You just have taken quite good pictures of your ornaments and added some relevant information while uploading. While adding the information keep in mind to describe the details of the piece and special attention to the weight and karat of the gold.
This is not a free method to sell your gold for cash; you have to pay a little fee while uploading and another small commission after the final sale of the item. The online auction only works well if you have great knowledge about your piece and its market value to provide others so that you can ask them a fair price.
3. CLASSIFIED ADS
A cheap and easy way to sell your gold for cash is by publishing a classified ad in your local newspaper. In this way, you can sell your gold closer to home and without any extra effort. Just publish a classified ad full of details and pictures of the item in your local newspaper and wait till you get a worthy offer for it.
If you are not in a hurry to sell your gold then you can wait until you receive an offer price you want. You can renew the ad again to receive good options as it’s an inexpensive way and will cost you a few dollars only.
5. JEWELLERY STORE
A popular way to sell your gold for cash is by walking into jeweller shops. This is the handiest way to earn cash for gold. We do recommend this way as in some scenarios the jewellery shops are owned by a known, or you end up at the same shop from where you bought the ornament. For this option, you don’t have to Rome around for the best value of the gold just find a local trustworthy jewellery shop to sell your gold.
Through this, you might get a market value offer but the only disadvantage is they cut off many expenses such as – labor cost, melting cost, and extra, and the payment is analyzed on the karatas well as the weight of the item excluding the rinse stones mounted in the ornament.
CONCLUSION:
Before sealing the deal you should keep a few points in your mind that the item is selling at its market worth, if you are not in a hurry for instant cash then take your time to make a deal, and choose a wise way to sell your gold to enjoy benefits. Before selling your gold you should also learn some key points such as researching your sales option, knowing the actual value of your ornament, and comparing offers and gold prices.
