24 Karat Gold
It has often been observed, and assessed many a times on a disappointing note, that people turn to monetise their gold ornaments whenever there is an urgent requirement for cash. Still, the situation of money collected by trading gold is not satisfactory for most of them. It is less than what is expected. You need to pay attention to some essential things while selling gold jewellery in India. This way, you will be saved from getting cheated.
Here are some valuable tips you are supposed to follow before selling your gold jewellery:
1.Collect Invoice: You are supposed to be asked for the invoice by an authentic jeweller once you trade for gold jewellery. If you visit the same shop, you usually buy from. You will not be said anything by the retailer if there is any discrepancy in purity, as the particulars are mentioned clearly in the invoice.
2.What's the worth? You expect to know better the value of the gold jewellery you want to sell. Thus, asking for quotations from various shops becomes essential. Collecting 3 to 4 quotes from multiple buyers of gold shops will give you the idea to compare the worth of the jewellery. Go with the maximum price possible that you are looking for
3.Checking the Purity Level: Before selling gold, it's essentially a better way to get it checked for purity. Before you sell, check if your jewellery is hallmarked or not. It is necessary to go for the best deal. Hallmarking establishes the purity of gold jewellery. If your jewellery bears a 916 Hallmark, it means it has 91.6% purity of gold for 22-carat gold. A 916 Hallmarked gold is always preferred over non-hallmarked gold as its purity is not authentic. If your jewellery is not hallmarked, take it first at a shop with a carat meter, as it establishes the purity of gold.
4.Deciding the Ultimate Cost: The jewellery is first melted in an induction furnace by the gold shops that buy used gold, and the left gold, which is free from any impurities, is taken to decide the price. The entire process is carried out at a nominal cost which gets deducted from the final price of gold. This deduction ranges between 4-6%.
Finally, it must be remembered that in the process of selling gold jewellery, one will lose out on the entire making or labour charge paid at the time of purchase, and which forms a large chunk of the jewellery price, besides the tax paid. However, if you are looking for a fair price for scrap gold, most buyers will offer you in a range of 60% to 80% of the market price.
Also Read:- The Best Way To Make Money Through Your Gold
our prices have always been in the talks among the scrap buyers of gold , as we are the ones who offer the highest price or value in the market based on the amount of pure metals present and also their purity level. If you are looking for the best gold and silver dealers near me in your online search, you have indeed arrived at the right destination. It not only that we provide the spot price for gold coins, bars, and silver coins we buy.
Going to a reputed jewellery store is the best option as the chances of getting a fair price as the best market value remain the highest option there. The small glitch here canot be ruled out. As a policy, several stores buy back only those pieces of jewellery bought from them.
In India, many pawnshops or buyers of gold are other options that people approach especially in times of emergency. But the chances of malpractices are very much there. Selling your jewellery in-person to a local shop may still be the best way to sell used gold jewelry. You also have many options, including coin shops, consignment shops, and jewellers. But for greater satisfaction, you better pay a visit to our store.
Also read:- How Do I Get a Good Deal from Buyers of Gold?
By admin: August 11, 2023