Gold’s appeal relies mostly on the fact that it’s the oldest form of currency in history. People still trade it like they would trade money which makes it an easy target for scammers. They’re a given when it comes to anything that puts you in a financially vulnerable situation, but with the right research and preparation, you’ll avoid these scams and conclude with the best deal.
If you are selling gold for the first time, it’s best to educate yourself about the basics of gold first before you even consider stepping inside a pawnshop. We’re going to teach you more than just that. In this article, we discuss the steps that you can take in order to arrive at a conclusion that gets you the best deal for your gold.
1. Get the value of your gold
The goal here is to get the best deal, but in order to get it; you will need to pay upfront to get an accurate valuation for your gold. During the appraisal, the jeweller will examine the size, weight, karat of your gold.
They might even check for workmanship and designer name to see if your gold’s value goes beyond its measurements. This applies to gold items that come with other metals and precious stones. These have value too, so make sure to take these into consideration during the valuation process.
By doing this, you will know exactly how much your gold is worth and find a seller, like Gold Buyers Melbourne, Australia, that bids at the closest price that your valuator gave you.
2. Haggle
Don’t settle for the first offer. There are many shops that are eager to buy your gold, so it helps to not settle for the first offer you get. Now let’s say the best offer you got doesn’t come close to your gold’s true value. If you feel like the offer is not enough, don’t be afraid to haggle. If the dealer doesn’t budge, you can always check for other dealers in the area. Let them know of the other competitor’s offer and they might just provide you a better one.
3. Check the company’s reputations
Do some research on your potential dealers and see what customers have to say. Organic comments are often found in forums and blogs, so go for those as opposed to reading reviews as some of these are just paid advertisements.
Only select companies that you trust based on your research. This will help you save time and money as you won’t have to go back and forth to many dealers. A good example of a reliable dealer is Goldbuyersmelbourne.com.au, your trusted pawn shop in Melbourne. They have been around since 1948 and continue to serve gold dealers until today.
4. Check the economy
The state of the economy that you live in highly impacts the value of your gold. Gold’s value tends to skyrocket when the economy is bad, so choose your investing times wisely. Although a crisis is the last thing you want to happen, it helps to be prepared with the right investment that gets you the most returns.
We hope those tips have helped. Gold is a valuable item that’s worth money when dealt with properly. By taking your time to do research, canvassing, and haggling, you should be able to end up with the best possible deal for your gold.
What other advice do you have for our readers? Let us know in the comments.
