How Do You Get the Best Selling Price For Old Gold?

by | Jan 23, 2023 | Gold Jewellery, Jewellery, sell old gold Jewelry

Have you ever thought of selling your gold jewellery for cash and receiving the best deal? Selling gold is a prevalent concept among Indians when we need money. Gold is a precious as well as auspicious metal to us. Moreover, it is, indeed, a true friend in troubling times. The value of gold remains the same, irrespective of the metal being old or new. Hence, it is a wise decision to sell your gold or old gold pieces of jewellery when you need instant cash. Local Indian markets offer an array of options to buy and sell ornaments, and you must be aware of the entire scenario, as the jewel smiths or artisans are always seeking opportunities and taking advantage of the situation and deducting the considerable amount in the name of wastage charge, melting charge, etc. 

Even in cases when you don’t want to keep a specific piece of jewellery for any reason, may you not like it, or the jewellery has been too old, you can exchange the piece of jewellery and earn cash for gold in Kolkata. Leading gold buyer companies like Cash On Old Gold are ready to buy your gold jewellery and offer you a legit price. We provide an unparalleled experience of buying your old gold for an immediate cash return. Gold prices have been on a constant hike since 2013. If you have old gold jewellery in stock and want to sell them, there are ample chances that it would be a lucrative deal while taking advantage of today’s high gold prices. One of the most prominent reasons to sell your gold online is through a credible buyer, as it will offer you a fair price than you could draw from selling in a pawn shop or jewellery store. 

You believe you can get your jewellery or the coin when the financial crisis is over. At times, we feel too attached to our pieces of jewellery that we don’t feel like selling them under any circumstances. You may think of taking a loan against the jewellery or coins instead as the best choice. While it seems to be an attractive option, you are only going to get into another cycle of tension and stress. Therefore, make wise decisions while dealing with delicate matters like selling your loved possessions like old gold jewellery.  

Professionals prefer Cash On Old Gold as the perfect hub to get cash for gold to acquire the best amount in return. As per the record of November 10, 2022, the gold price had risen to around $55 per gram of gold. Gold prices typically increase when the value of the stock market declines, making the price unbelievably high as the value of the stock market drops. Most individuals have gold possessions in the form of jewellery or gold coins. As mentioned earlier, they can sell gold for cash in Kolkata in emergencies or if they feel like it is due for any reason.(Source: diamonds

The Process of Selling Gold

The process of selling gold can seem puzzling initially, but several credible and trusted buyers are available in the market to offer you the best deal for your gold jewellery, coins, and other types of old gold pieces. When you start searching for gold buyers, you will notice that there are plenty of such buyers in the current market. You can quickly contact them to receive the most competitive price you have offered for your gold jewellery or gold coins. The cash you receive from these buyers values more than the money you have invested in the gold jewellery, as the buyers are authentic and know the real value of your old gold. 

Selling your gold jewellery for cash can make you feel anxious, especially when you are running out of money and you do not have any idea of what to expect and whether the amount is decent and reasonable. As you have invested a fair amount of money, you want the best value for the gold. 

Make sure the gold buyer offers you the right amount of cash for your old gold jewellery. It is essential to keep a few things in mind, such as learning the correct weightage and caratage of the jewellery before selling it. In case you are unsure about the purity of the jewellery piece, you can run a check by one or more jewellers who have a carat metre. It is preferable to exchange or sell gold for cash in Kolkata to the same jeweller from whom you have bought your product. There are high chance buyers might confuse or beguile you to offer you lesser charges. The most visible and highly advertised options are not always the best place to sell if you are looking for a fair deal. You can sell your gold pieces of jewellery both online and offline, and it entirely depends on the reliability and client testimonials of the brand as to whether to proceed with the same. 

Ways To Get the Best Selling Price for Your Old Gold

1. Do Proper Research 

You need to research gold’s current value, the appreciation and depreciation rates, where to sell the gold, and how to earn cash for gold in Kolkata. You will find numerous articles and blogs guiding you on where and how to sell your old gold jewellery for the best price. You can analyse the documents to educate yourself about Gold tests and the assessment process. Some buyers use XRF (X-Ray Fluorescence) test, and some use the electrical conductivity of acid test. The more you know about all these, the more confident you will become about selling your gold. 

2. Keep The Invoice

A good jeweller will always ask for the invoice when you go to sell jewellery. If you approach the same shop from where you brought the piece a long back, the company won’t be in the position to contest, as the purchase details are clear in the bill of purchase. In any case, keeping the cash memo while taking your old gold or jewellery to a buyer is perceptive. 

3. What is the Worth of Gold?

It is essential to have a proper understanding of the gold value that you intend to sell. As buying and selling price rates are different, it becomes tough to determine the exact value of the precious metal. Due to this reason, you can take quotes to multiple stores as there is no standardised method to determine the selling price. You can find slight differences between the quotes that brands offer. Get three to four quotes at minimum, so one can fully assess the value of the jewellery and settle for the highest price possible for the piece you sell. 

4. Check The Purity of Gold

Hallmarking has been mandatory in India for a few years, so you might not find the hallmark signs on old jewellery pieces. If you as an individual are to ask a jeweller to hallmark your old gold and then accept it, they will be afraid to accept it as old metal is of lower caratage. Before you sell, you need to check whether your jewellery carries a hallmark symbol. The hallmarking sign establishes the purity of gold jewellery. A piece of jewellery with a 916 hallmark means 91.6% purity of gold for 22-carat gold. Jewellers anytime prefer a 916 hallmarked gold over a non-hallmarked gold as there is no guarantee of authenticity. One of the most advisable options to sell your gold jewellery is to find the shop from where you bought the jewellery as they will offer the rate for the same purity at which they have sold. 

5. Confirm The Final Gold Price 

Now is the time to decide the gold price. Prominent gold shops such as Cash on Old Gold take the gold and melt the jewellery in an induction furnace. The gold available after that is free of any impurities. The company completes the entire process at a nominal cost which gets deducted from the final gold price. The deduction cost ranges between 4% to 6% of the total amount.

In some cases, shops already decide the selling price for every 10 grams, similar to that of the buying price. Professionals have observed that the price tends to be lower than the buying price by 6-7%. It will help if you remember that you will lose the entire marketing and the tax charge you paid at the time of purchase. 

6. Decide Where to Sell

When you start searching for gold buyers near you, you will get baffled as many of them offer loads of offers and discounts. You must be careful about selecting where to sell gold for cash in Kolkata. You can ask your family and friends for recommendations and testimonials. You can also check their websites for certifications and reviews from previous customers. One of the best options is to choose a renowned jewellery house as the chances of getting a fair price is the highest. Under the standardised policy, several stores only buy the old pieces of jewellery that you have bought from them and not from the other stores, even if you have the bill for the item. In India, various gold buyer options are available where you can go in an emergency. These shops often indulge in malpractices, and one might end up getting a lesser price for one’s possession. 

7. Negotiate Till You Get the Best Deal

You cannot accept the cash that the buyer brand offers in one go. If you keep your cool and think deeply, you can negotiate with the buyers and get a suitable price for the deal you do. Buyers are never ready to offer you the right price, so negotiation opens the doors for you to get better prices for your gold jewellery. 

 Mistakes To Avoid While Selling Gold 

It is too easy to fall into traps when selling gold. You will find a lot of dishonest and unethical operators in the market. You need to be more careful while being in the process. 

1. Don’t Go for Arbitrary Buyers 

Try to get recommendations from professional appraisers who deal with specific gold buyers. You may have to wait some more time before finding the right gold buyer, but it will be worth it. 

2. Know Who You Deal With 

One of the biggest mistakes individuals make while deciding to sell gold for cash in Kolkata is choosing the right buyer. Remember, you must choose a reputable gold buyer to sell your valuables. 

Many buyers say, “they buy gold,” but you need to check whether they can offer you a fair price. How long have they been in the same business? It is to see for how many decades the dealers have been in business, not days. It is also crucial to get a credible buyer in the city to sell your gold. With the right kind of data, you can make the right decision regarding a professional buyer, keeping the market conditions in mind. 

3. Look Into the Certification the Dealers Have

If you don’t know much about gold, you’d better know your gold dealer. The brand must have some nationally recognized credentials. You must see the potential of the dealers to avoid any potential scams, such as forgery, and avoid receiving too little when you buy a piece of jewellery.

4. Be Updated About the Current Gold Price

You can search for the current spot price with your smartphone. You must have explicit knowledge about the current gold price and the precious metal you want to buy or sell. If you get any offers lower than the standardised one, you must avoid them. It is to gather the documents and make a note of everything to make your gold items stand out from the other items, to earn cash for gold in Kolkata by selling your jewellery at the best price. Make sure you deal with a professional brand like Cash On Old Gold to get the fairest price for your gold. 

Final Takeaways – Sell the Old Gold Jewelry

Whenever selling old gold jewellery for money, make sure not to get overwhelmed by any emotion. It is essential to make your choices and decisions practical and relevant. Do not let the buyer take advantage of your financial situation; keep calm and stick to the price that the piece of your old gold jewellery deserves. This way, you won’t regret selling your gold for cash. Sell your old gold jewellery and earn the best price under the guidance of our experienced professionals.