|
TEN TIPS FOR SELLING YOUR GOLD
1. Find a trusted company.
Businesses buying gold in Australia are subjected to State and Territory law. Gold buying companies need to have a Second Hand Dealers license. Ask questions like: How long have you been in the gold business? Do you have a business license? Do you have a second hand dealers license?
2. Be an informed seller.
As with any transaction - buying or selling - have a 'consumer beware' approach. It's worth your time to so some homework.
3. Learn the per gram carat market value and confirm total weight.
Educate yourself on the value of your gold. 24ct gold is pure gold and so soft it is rarely used in jewellery. 18ct, 14ct and 9ct refer to the portions (out of 24) of the pure gold content in the item of jewellery. 18ct can also be stamped 750 (750 parts of pure gold per 1000 parts of metal) 14ct can be stamped 585 and 9ct can be stamped 375. Look for the carat stamp on your jewellery. You should be able to watch your buyer weigh your gold and then confirm total weight. Note that scales used to weigh your jewellery must be certified and tested by State and Territory authorities. Ask if this has occurred. The price offered should be a price per gram for your carat value. If you are unsure of how a price is determined, ask. Remember, gold buyers are in the business to make money and so you should expect a discount to the market price. Consider selling only to buyers who can confirm total weight in grams and a price per gram per carat.
4. Gemstones not included.
Most companies only want the gold. You are well within your rights to ask for and keep the stones, or get additional quotes from the price for the gold.
5. Heirlooms.
Be extra careful with any jewellery passed down from great-grandma. It might be worth more intact as a re-sale than it is for the value in recycled gold.
6. Understand the process.
If you have to leave your gold for evaluation, make sure you get a detailed receipt. Ask if the company is sending it offsite, and if so, when can they confirm the price.
7. Online companies.
If you are considering selling your gold to an online company, do follow two important rules:
8. Invited to a "Gold Party"?
Find out who is hosting, who will be doing the buying, and their experience in the jewellery business. Know what other companies are paying per gram before you attend.
9. Get a price from more than one company.
However you decide to sell, in person, online, at a gold party or even through the mail, always follow the “Get 3 Quotes Rule” before your final sale.
10. The Jewellers Association of Australia will be happy to help you with any queries that you may have. Please contact us by
phone. 1800 657 762
fax. 02 9262 2541
email. info@jaa.com.au
post. Suite 33, Level 8, 99 York Street, Sydney NSW 2000
|
