The value of gold is currently higher than ever, and buyers are still very interested in snatching up as much as possible. Those with old jewelry and scrap pieces can make a considerable amount of money on items they no longer want or need. However, just because someone is buying does not mean they are paying the highest possible rate. Use the following insider info as a guide, and try at least three resources before selling too low. Get the most money for gold jewelry by shopping around and haggling with the highest bidder.
Selling My Old Jewelry
I recently decided to try and sell a 14k gold diamond wedding band and engagement ring set as well as two scrap items. The scrap rings were partial wedding band sets, but they did not go with any of my old rings. My ex husband was given the rings when he sold jewelry at a local department store, and they were basically useless bands since they were meant to surround specific settings. They were taking up space in my jewelry box, and I thought it was a wise idea to cash-in before the price plummets. Of course I wanted to get the most money for my gold jewelry, and I was not willing to give it away for just a few extra bucks.
Pawn Shops Sometimes Offer the Most Money for Jewelry
The first place I decided to try was a pawn shop. I knew they were more likely to pay for the diamonds as well as the gold, and maybe I would get the most money for the items. Those interested in just buying the gold would subtract the weight of the diamonds, and I would receive nothing extra no matter how large or how perfect they were. I was offered $165 for the wedding ring set and $40 for the scrap gold. I had two other places in mind in an attempt to get the most for my gold rings, and I was not ready to make a decision. I knew I could always go back if this was ultimately the highest offer.
High-End Jewelry Stores Do Not Always Offer the Most Money
After trying to get the most for my gold jewelry at a pawn shop, I tried a high-end jewelry store. They were gold buyers as well as sellers, but they did not offer the highest amount. The jewelry store offered $1.00 less than the pawn shop. Of course it would not be worth just $1.00 to backtrack, but I had another place in mind. Down the road was a Cash for Gold outlet, and I wanted to see if they would offer the most money before deciding to sell.
Try a Cash for Gold Outlet to Get the Most Money for your Jewelry
While waiting for an offer from the Cash for Gold outlet, I helped myself to free chocolate and bottled water. They were far kinder and seemed more generous than the pawn shop and the jewelry store from the very beginning, but the amount they initially offered was very disappointing to say the least. Cash for Gold offered about half of what the pawn shop was willing to pay for my gold jewelry. I was also correct regarding the diamonds. They did not add value to the jewelry. In fact, the weight of the diamonds was subtracted from the offer, but the amount was ultimately added back in because of a 20% promotional increase.
This still did not seem to be the place to get the most money for my items – until I decided to haggle. The Cash for Gold representative wanted to give me the most money for my gold jewelry and ultimately gain my business, but she did not have the power to offer more money before making call. I told her how much the pawn shop had offered, and after calling her boss, she was able to offer $5.00 more than the pawn shop.
In my case, Cash for Gold was ultimately the best place to go when trying to get the most money for old jewelry. Do not use their mailing service. Find an outlet, and do not accept their first offer. Many people do not realize they can haggle to get the most money for their items, and depending on the current market value, they will likely offer more than their initial proposal. It definitely pays to ask!