Options to Sell Your Jewelry in New York City

It may be due to financial or personal reasons, but if you have decided selling your gold jewelry, you need to find a place to make the sale. In New York City, you will have to be aware to not step into a fraud sale or receive peanuts for your items. Here are the many options that you have at your disposal to sell your gold jewelry:
 
Sell Your Jewelry in New York City
 
Acquaintances
Friends and family are a great option to start with selling your jewelry. People who have expressed their fondness for your jewelry are your potential customers. If you are selling your gold jewelry in New York City, you may as well spread the word to your friends. Make sure selling to your friends will not strain your relationship with them. Be fair in your pricing and state your terms accurately and correctly.
 
Local Newspaper
To sell your gold jewelry, you may place an ad in the newspaper, which has been a means to connect buyers and sellers for decades. It will also help to keep your transaction local and you can meet the people in person so you know whom you are entering into a transaction with. You must, however, ensure that you arrange the meeting in a secure location and know what your jewelry is worth. Never settle for less and the only way you avoid a bad sale is to be at the top of your game.
 
Consignment Jewelers
You can choose to sell your jewelry through consignment jewelers. They will hand your jewelry to a professional who will have interest to sell it for the most money. An important consideration when opting to sell your items through a consignment jeweler is that they cost a fraction of the proceeds that you make. However, to ensure that you enter into a deal with someone professional and trustworthy, inquire how they plan to sell your jewelry and the experience they have in this line of work.
 
Auction Houses
If you have antique pieces to sell, you may choose an auction house for the purpose. They are a traditional method to show off those important pieces of jewelry to noteworthy buyers who really are interested in making a purchase. Larger auction houses have noteworthy experience to give you a realistic figure to expect from your sale. However, on the flip side, you may have to pay a commission to the auction house and some fees, but the auction may take the price to the highest.
 
Online
With the internet driving many online purchases and sales, selling gold jewelry online has also become a lucrative way to get quick cash. You get the advantage of marketing to a global audience, which is all a credit to your sales pitch, and digital photos, which can bring in a good price. If you are selling your gold jewelry to an online store that deals in buying and selling gold items, just ensure that it is trustworthy and make an informed decision.

Selling Scrap Gold

Selling Scrap GoldScrap gold is basically any form of gold that needs refining or recycling to make it valuable again. This however does not mean that your scrap gold is worthless. That was a thing of the past when refining was done manually by goldsmiths. Today, you can sell your scrap gold for cash to a variety of pawn shops or online gold buyers and get good rates for them. Before selling your scrap gold though, there are some things you need to consider to make sure you get the best price out of it. Let’s take a look at some things that you should consider before selling scrap gold.

Organize Scrap Gold by Karat
If you have a lot of old jewelry and other gold possessions, it is best to separate those by their karat weight make sure you can estimate its accurate value. This can help you remove jewelry that is not gold but is also of high value, like platinum, silver, and other precious materials. If you can’t read the karat weight of gold items, use a magnifying glass, or get them tested by a gold dealer. Get chemical test scrap gold to make sure what items are actually gold and what are just plated gold.

Any gold jewelry or possession that was manufactured before 1980 is going to below the market value for karat weight. This is because the laws regarding marking and purity of gold changed in 1980. So if you have a gold possession marked with 18k, then it will probably be around 17k to 17.5 k.

Separate Scrap Gold Coins from Other Scrap Gold
Gold coins have a numismatic value which will be higher than the metal value. This value is based on the age, overall condition, and rarity of the gold coins. Hence, you should separate them from other scrap gold as they carry better value. The best option in this case is to get your gold coins examined from a coin dealer.

Tips to Sell Scrap Gold
Pawn shops or gold buyers that purchase scrap gold will likely value it from 30 to 60% of the gold’s actual worth. This helps gold buyers in taking a major profit from your gold, as the refining costs will be covered when they sell it again. Hence, it is advisable to visit four to five pawn shops and get quotes from them. If you are getting a fair price, then go ahead and sell. But if you are not, then you can search for gold buyers online like Gold Buyers New York City who can provide high percentage value of your scrap gold.

Also, if you have gold jewelry with precious stones, then make sure you get them removed before you sell the jewelry. These gemstones can carry significant value and it is better to sell them separately. If you can’t get the stones removed, then don’t sell that jewelry as you will only get lower rates. But with the current price of gold hovering around $1300, it’s never a bad time to sell old, unwanted gold!