You could have some jewellery that you have inherited or maybe you have had some jewellery that has been sitting in a box for years that you would like to sell. Whatever the case if you want to sell gold jewellery Melbourne, you might be curious about what your jewellery is really worth. Selling your old and unused jewellery is a savvy financial choice to make. However, before you sell your gold jewellery, it is important to learn what its value is so you can be sure that you are getting its full second-hand value.
When selling your gold jewellery to Melbourne gold buyers, you can expect 20 to 60 percent of the origional price. The exact percentage depends on different factors such as condition, brand and demand.
You might get a professional appraiser to tell you what your gold jewellery is worth but it is important to note that most appraisers will give a replacement value for your jewellery for insurance purposes mostly. However, insurance appraisals tend to be inflated, they don’t indicate the second hand value or a cash value that a gold buyer would honour.
As a first-time seller, finding out that you will likely receive 20 – 60% of the jewelley’s origional purchase price can be shocking. It is important to learn the difference between retail and resale prices.
The retail price is the amount you paid when you first bought the jewellery. Various jewellers put mark-ups on their jewellery. These can be higher than 300%.
The resale price is the money you will get paid when you sell gold jewellery Melbourne or anywhere on the second-hand market. Think of when you drive a car from a dealership, the moment car loses its value the moment you drive off. It’s the same with gold jeweller, it loses its value the moment you step out of the store. You might never wear it the jewellery, the value still drops.
What affects the price of your gold jewellery?
The value of jewellery is affected by a number of factors including demand, condition and style.
- Jewellery brand: Certain jewellery brands hold their value better than most jewelleries. Brands like Cartier, Bulgari, Van Cleef & Arpels always keep their value.
- Metal: Jewellery made with precious metals such gold, platinum, titanium and silver have value.
- Gemstones: Jewellery that features diamonds, rubies and sapphires can be valuable if they are of a good condition. When selling jewellery pieces like an engagement ring with quality diamonds, it may be helpful to get a grading certificate from a reputable lab. A certificate like that will have information about the quality of the stone. Having this might influence the price you can get when you sell.
- Condition: When selling gold, the appearance matters. You might get more for selling gold in good condition than you might get for selling damaged gold. Sometimes the jewellery might just need a little cleaning to look good.
- Original packaging: When you have high-end jewellery you could get a higher price when you still have the original paper and boxes. It might also be helpful to have the paperwork on hand when you sell items especially if they have precious gems and diamonds.
There are a lot of different ways to sell gold jewellery. Knowing what an appraiser considers when determining what it’s worth can be very helpful. When you know what your jewellery is worth you’ll be able to choose the right buyer to sell it to.