5 Important Things to Remember Before You Sell Your Gold Jewellery in Singapore
While the markets reel under recession, many of us are happy about gold prices soaring new heights. Take advantage of the current gold prices and do what most people are doing. You can sell your gold jewellery in Singapore. This can be a good way to improve your finances. You can make fast cash and some hefty returns.
Here are some helpful tips to consider before you sell your gold online.
1. Avoid gold parties
This is an old fashioned process. Many housewives and relatives pool in and exchange items made of the yellow metal. This might sound very trustworthy but can be deceptive in reality. You may not get the entire worth of your jewellery.
2. Always calculate
Always check the online market price of gold before you embark on a selling spree. Make a complete valuation of all the items you are planning to sell. Generally, stores which are round-the-corner shops have middlemen who might eat up your profits. Professional dealers, who regularly buy in volumes, make about 90 per cent of profits. You have to search for a store which gives you good margins. So you must be wise in choosing a good jewellery store.
3. Always inspect
Check your jewellery before you sell it. Gold jewellery may have clasps. Identify and inspect the inside of rings, look for markings in items. These may prove helpful in indicating the total gold content in karats. You can also use online research tools to identify unfamiliar terms. This entire process can be simplified if you have a jeweller’s loupe. If your items are unmarked, buy a gold test kit from the market. Know its true worth before you sell.
4. Remember to detach all stones
Before you find the best place to sell god, remove all the precious stones from the ornaments or make sure you get a separate valuation for the stones. Many dealers might not pay you the price for the stones or simply ignore them and only pay you the amount for the gold.
5. Be aware of the scales
Small gold items like rings, ear tubs, small bands all need to be weighed first. Purchase or borrow weighing scales first. Separate each item and measure them in karats. You should know the weight first before you approach a gold dealer.
If you are looking to buy jewellery online, we can help you with that as well. Visit our website and schedule an appointment with us today.
