selling gold question

[tarheel618]

I have few pieces I would like to sell but have never done this before.

What questions should I ask?

Also, I have a broken tennis braclet that has diamonds in it. I've had it repaired before but it keeps breaking so I am thinking of putting that in the mix as well. Do the brokers also pay for the stones?



Thanks for any advice you may have

 

[JandJ]

I sold a bunch of old gold this year at a locally owned jewelry store and I was shocked by how much I got! I got ten times more than I anticipated. A very good friend works there (which didn't impact my pay-out as the owner sets the rates) or else I wouldn't have even thought of going to a local place.

They will not pay extra for diamonds unless they are exceptionally large and of excellent quality. I had some tiny diamonds, emeralds, and sapphires in pieces I sold but they were too small to be of any real value and too small to be used for anything else, so they just went into the pile. You may be able to have the diamonds in the bracelet reset into something else.

You should be able to take your pieces to different places and get quotes, but gold prices vary frequently, so be prepared to sell when you hear a price you like and don't wait because the price could go down - or up - it's a gamble.

 

[chocolatemint]

Best advice: buy a scale (Amazon has them very inexpensively) and weigh your gold before you go. Do not trust the scales in the shops. Figure out the actual value using one of the online charts and be sure and take karats into consideration.

Also, do not let them tell you that something is fake and "throw it out for you" -- that's a tactic of some unscrupulous buyers.

Be sure and get multiple quotes. The highest we could find (most places won't even tell you what percentage they'll pay... which I think is shady) was 60% of the current price.

In the end we didn't sell anything but I may still do it when prices come back up. Or who knows, I may be trading a ring for a bag of potatoes pretty soon with the way things are going!