When considering selling gold jewellery, it is worth noting that gold is a commodity and therefore holds an intrinsic value within the market which is susceptible to fluctuations. Indeed, several factors can impact the value of gold jewellery, including the quality of the jewellery, its rarity, and the current market demand for gold.
If you are thinking of selling gold jewellery, there are an overwhelming number of options.
Online marketplaces such as Facebook, eBay, Etsy and Vinted are options offering the seller full control of the process, giving them full responsibility for descriptions, images, and shipping. Unfortunately, these methods are subject to widespread fraud, and the seller would need to take extra precautions, which could potentially be costly, to protect themselves.
There are also dedicated websites, offering a swift and relatively seamless transaction when selling gold jewellery. However, it is important to keep in mind that prices offered will be based purely on the scrap value of your jewellery and may be reduced further due to imposed commission rates.
Another option is to sell your gold jewellery directly to professional Dealers who are experienced in assessing the value of gold. While this offers a convenient instantaneous transaction, be aware that gold jewellery will more often than not be weighed and bought based on the scrap value on the day.
Pawnbrokers are an option for selling your gold jewellery when you are in need of immediate funds, however, it is highly unlikely that you would achieve the market value if selling via this option.
An obvious choice would be to go to a Jeweller, who will purchase gold jewellery, sometimes with the intention of reselling it. Even the best jeweller can undervalue a piece when trying to allow for a profit, so visiting several jewellers is the recommended course of action, allowing you to choose the best offer. This can be a time-consuming task, and a lot of jewellers are currently inundated with stock and therefore not buying, or alternatively only offering scrap value.
Finally, you could consider selling your gold jewellery through an auction house. Here at Dawsons, our expert Jewellery Valuers will take into account the gold weight and relative value, as well as the piece itself - the maker, design, style, and/or type of jewellery often merits a higher value at auction. The best auctions will attract a global market of collectors and enthusiasts who are willing to pay a premium price for unique or rare pieces.
Selling at auction means that your gold jewellery could potentially sell for far more than just the scrap value. In addition, if your jewellery has sentimental value, it might give you peace of mind to know that your items are going on to a new home, rather than potentially becoming scrap.
With a global audience of over 10 million, Dawsons can achieve the best price at auction.
Get in touch with our Jewellery Team today for sales advice: