Before you start selling your gold, there is some critical information to get the most from your gold selling experience. The more you’re educated about the gold-selling process you can get the best price possible. Follow these tips when you sell gold in Australia.

Selling Precious Metal

You get two main ways to sell your gold jewellery. First, you can sell it to a gold dealer online. Or you can visit physical gold buyers at the shop. You can receive money for both these methods, but we recommend visiting a dealer in person instead.

Still, there are some points to keep in mind with both these selling methods. Not all gold buyers are the same, and the prices vary from one to another. You may see a price difference of a few dollars per gram advertised on their websites.

Monitor the current gold value when selling vast quantities of gold to get the best deal possible. The price of gold is not fixed and fluctuates constantly. Therefore, selling at the right time is crucial as the price can go up or down.

At the same time, another important thing is the headline rate, referred to as spot price, is not the price you will receive for your old gold jewellery. So, you can expect an offer price below the spot price.

Therefore, before approaching a broker with your precious metal, confirm the spot price in Australian dollars and check to see if you are comfortable with the buyback rate offered. Determining the gold value helps to know the purity measured in karats. So, find out the gold karat of your pieces to get paid accordingly.

Gold Buyers will test your gold for purity, offering you a buyback below the spot price based on weight. It helps to know your karat jewellery and its weight before entering a shop. Do this by looking at the hallmark stamped on jewellery.

Then sort them into the karats and weigh them separately on a kitchen scale.

Find a Trustworthy Gold Dealer

Once you check the market rate for your gold, shop around for local gold buyers to sell your jewellery to. Most dealers advertise rates on the website to simplify your process. Also, check if they have a Second-hand Dealer’s Business License.

Finally, call and check if the dealer charges a fee or even a small commission to buy back gold from you. If they do, it is best to avoid these dealers. Another important thing is to follow the “Get 3 Quotes Rule” before making a final sale.

The rule applies whether selling online or the preferred method of selling in person.

Sell Your Gold Jewellery to Gold Buyers Today

When the time comes to sell your gold, do some research online and find a local gold buyer. Still, keep in mind to get multiple quotes from different dealers to find the best value for your gold. First, check the dealer’s live prices and reach out to them before visiting them. Then head to the broker’s shop so that they can help access your gold pieces and give you the best offer for cash in hand.