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There is a risk you run when selling your gold jewelry for cash that you might be offered a much lower payout than the jewelry is worth. This can be a difficult process because the price of gold fluctuates on a daily basis. If you looked up the price of 14k gold last week, don’t expect it to be the same today. However, even if you keep up with what’s going on in the market, there are still several ways dishonest jewelers can scam you. Even if finances are tight, keep in mind that taking your time to find the right jewelry buyer can make a big difference in how much money you end up with. Finding a place where you can sell gold in Atlanta is easy, but getting a good deal is a whole other story.

The Worth of Your Jewelry

Gold isn’t cheap, which is why even the slightest miscalculation can have a big difference when money is factored in. This could be as simple as a jeweler classifying your piece as 10k instead of 14k. Figuring this out is relatively easy if you bought your piece from an honest jeweler in the first place. Each item should come with a stamp of some sort, usually on the inside or the back of the piece. The usual stamps are either 10k to 24k, or a three-digit number like 585. Those three numbers indicate the percentage of pure gold in your jewelry, so 585 would mean 58.5% pure gold, which is equivalent to 14k. However, in some rare cases where the jewelry was purchased from another country, the stamp may be different. This doesn’t mean there’s anything wrong with your jewelry, but you will have to dig a little deeper to find out what that stamp means. Once you’ve determined the karat, there are just two things left: the current market price and total weight of your item. The market price can be found with a simple online search, but to get an accurate weight you may have to purchase a digital scale, since every gram counts.

Dealing with Designer Jewelry

Selling scraps is one thing, but dealing with high-class designer jewelry is different. Not every store is going to care about the designer, mainly because their profit comes from selling used gold to smelters. Even if they do resell purchased items, they could lie and give you a low-ball price anyways. To get a fair value when you sell gold in Atlanta, work with a business that has already established a solid reputation like Elan Diamond Group. Businesses that have been around for a while should have a track record. A few reviews should give you a good idea of what the business is like. If you can’t find any reviews about the business, that could be a red flag.

Gold Jewelry

The Dangers of Going Business to Business

Some people rely on research when it comes to negotiating, but others simply like to run around until they find a better deal. Remember, the price of gold fluctuates daily, so those offers have a short expiration date. What’s worse is if you come back, they’ll know you couldn’t find a better offer and are more likely to low-ball you. The good news is that if you do things right the first time, you’ll know which businesses to work with, and which ones to avoid. Knowing where to sell gold in Atlanta can be tricky if you want to get top dollar, but it’s all worth it in the end.