Selling gold vs. appraisal value?

[WDWAurora]

I have a piece I would like to sell. It has no sentimental value. I have sold gold before, but never anything that I had appraisal information on. Now, I understand that the appraisal price takes into account full replacement cost, so I know I should not expect to get that, but I also do not want to take too little. Does anyone have experience with selling pieces that have been appraised (by a separate entity).

The good thing is that it at least means I know the weight, etc. and don't have to rely on their scales!

 

[Taja]

Selling jewelry as "gold" considers only the actual gold content in the item.

You might want to check the various websites for the current purchasing price of gold for a benchmark, then take the piece to several local estate, jewelry or pawn shops that purchase jewelry to resell. In either case, it's a bit like selling a used car--you receive a lower value so it can be resold at a higher price.

If the piece is particularly striking and fashionable, you could receive more from a store that buys and sells estate jewelry than just selling it for the gold content. But it won't be anywhere near the "appraised" value.

 

[jimaok]

You're not going to get anywhere near the appraised value. For one thing 24 K is solid gold, 18, 14, 10 K have other metals mixed in- so that is taken into account when weighing the item. You might get a third of the value from one of the "buying Gold/silver" places. You know how much it weighs in ounces but they try to trick you by weighing it in pennyweight. Don't be fooled. Google "gold/ silver melt values" it will tell you how much your gold or silver is really worth. Your best bet is to sell it to a refinery- cut out the middle guy. Just be careful.