Selling gold may seem like an easy way to get instant cash at your hands but what if you don’t get what you should be getting? It can be a little tricky but might even turn out to be a good deal for you if you know your way across the whole process. So let’s talk about the pre-selling tips that would help you get the best price out of your gold selling.
Determine the ‘right’ time
The ‘right’ time refers to the time when the gold prices are fairly high as compared to the previous one. This happens when the stock market is going low and thus the gold prices rise up higher than ever.
However, the right time can also vary according to your need. This means that your ‘right’ time can also be when you need money in exchange for your gold.
Check current gold spot price
Checking the current gold spot price can also help you get an idea of how much you would get for your gold at a specific time.
Since the spot price keeps changing and is dependent on the worldwide demand, it is better to be aware of it before you are ready to sell off your gold pieces of jewelry or bullions.
Negotiate not Bargain
If you feel like your buyer (whether online or in shops) is not offering a price that is suitable for you, you can always negotiate. And a lot of buyers are open for negotiations in case of prices.
However, that does mean you start bargaining unrealistically and lose a potentially good buyer. If you deal in a professional, formal way, you might end up with a better price than initially offered.
Choose the right buyer
In the gold-selling business, it’s always better for sellers to go for specific buyers when it comes to different gold pieces.
For example: If you have gold bullion or a gold coin to sell, you’d probably get a better price for it from someone who deals with gold coins and bullions.
Similarly, if you have a branded gold jewelry to sell, the best buyer for you would be someone who collects these brands or deals with their products.
But make sure you know that there’s a selling opportunity because not every jewelry store will buy your gold.
Visit shops and compare
The most fool-proof way to get the best price for your gold product is to know what and how much others are offering.
There’s no harm in getting quotes from different buyers online and in stores and then choosing the best fit for yourself.
So before you settle on one buyer, we’d advise you to do some leg work and go to the local jewelry stores, like Master Jewelers. This is only to get an idea of how much you should be expecting off of your gold items.
Be prepared to say No
As a seller, it is your decision to make a deal or turn it down. If you feel like the buyer is not offering enough, just say no and keep looking out for other (much better) prices.
The market is full of people who may offer you a price close to what you want so don’t give up.