The first step to selling your gold is deciding that you’re ready to sell. But, what’s the second step? Deciding where to sell. Figuring out the best place to sell your gold can seem like an overwhelming endeavor, but it doesn’t have to be. There are a few options available when it’s time to unload your old gold jewelry, and understanding all available avenues can make the process of selling a lot easier.
Jewelry Stores
Perhaps the most obvious way to sell your old or unwanted gold jewelry is by finding a local jewelry store that buys gold. While not every jewelry store buys gold, many do, and if you have multiple stores in your area, it’s worth inquiring at more than one location to see what they’re offering for gold. There are a few advantages to selling your gold to a jewelry store. The first is that you’ll receive your payout immediately, the same way you would if you were to sell to a pawn shop. The second is that you’re supporting a local business as opposed to a large corporation. Lastly, if you opt not to take the deal they’re offering, you get your jewelry back right on the spot.
Online
Out of all of the options available for selling your gold, selling it online usually gives you the best price, however, be wary because selling online is accompanied with the greatest degree of risk. The reason online buyers can typically offer the best price is that it’s significantly less expensive to operate an online business than a brick-and-mortar store. With lower operating costs, buyers don’t have to rely on such a large profit margin. Selling online is great, but it’s important to keep in mind that it takes a lot longer due to the need for shipping, and it can be stressful waiting while your item is in transit or wondering what the potential buyer’s process is like once it arrives. It’s understandable that you’d want to know what’s being done with your valuable items, which is why it may be easier on your mind to take to a store that’s local to where you live.
Pawn Shops
It’s not uncommon for people to seek out pawn shops when selling gold jewelry. It’s a very simple way to make cash quickly, however, it’s incredibly important to be aware of the fact that pawn shops are likely to give you a lower price than if you choose to sell elsewhere. Because pawn shops make the bulk of their profits by loaning money to customers and collecting interest, they have to buy gold at a lower price to ensure a big enough margin.
How to Sell Your Gold
It’s important to time your sale properly. Every time the stock market takes a dip, gold prices go up, so that’s one way to measure your timing. Secondly, remain professional, but don’t be afraid to negotiate a price. If you know what gold is worth, you can always counter what your potential buyer offers. The worst they can say is no. If you're looking to sell gold in Lakewood, Colorado, stop by Gold Rush Lakewood for a fast, fair offer!
