If you wish to get some great value from jewellery you already own, exchanging it for cash is a good idea. However, the most common mistake people make is selling their jewellery to the first buyer they come across, which often results in an unfair bargain. To avoid this, it’s prudent to choose the right gold buyers in Melbourne. When prepared with the right questions, you can easily determine if you are getting the best value for your gold jewelry and weed out the bad buyers from the good ones.
Here are five questions you should ask your gold buyer before selling.
1. How long have you been in business?
Generally, the longer a buyer has been in business, the more trustworthy they are. New businesses pop up all over everyday but most are only in it for a quick buck. Your buyer should have an established reputable following for at least a year or more. An experienced gold buyer in Melbourne can give you the right value for your jewellery and save you all the hassle.
2. What’s your pay rate?
Gold prices constantly fluctuate, but some gold buyers are famous for having a few tricks up their sleeves. For instance, a buyer might quote a certain price to you on the phone but later reveal that the price was for selling and not buying. This would not only waste your time but it is also a trick to get as many customers as possible. So, remember to specify that you wish to know the purchase price instead of the selling price and insist on an answer straight away.
3. Do stones have value, too?
If you’re selling gold jewelry that has stones embedded in it, first ask your buyer if they are valuable. Diamonds and other precious stones are expensive so you want to make sure you’re getting the right price.
4. Do you have any customer testimonials or referrals?
Another quick way of vetting a gold buyer’s reputation is to read some of their customer’s testimonials. When you find a buyer, make it a point to the check their website and see if they have any testimonials. If the website doesn’t have any, you can head over and review sites such as Google or Yelp. While bad reviews are inevitable, your buyer should still have a decent number of positive ones.
5. How do you determine the value of my items?
Finding out the value of metals such as gold, silver, and platinum is fairly simple. A good buyer will assess your jewellery pieces based on five factors: metal purity, type of metal, weight, inclusion of gemstones, and spot price (also known as current market price). If a buyer is unable to explain how they valued your items or just flat out refuses to do so, it is highly recommendable to reconsider proceeding further.
These five questions will help you determine a reputable gold buyer. Exchanging with an experienced gold buyer assures you that you’re getting the right rates for your gold jewelry. Don’t rush and take the time to assess buyers before making a decision. If you’re thinking about where to sell gold, the professionals at Crown Diamonds can help. With over 15 years of experience, we guarantee you with the most accurate price and ensure you receive the best service. To sell your gold, please feel free to call us at 03 9645 6465.