If you have some unwanted gold jewelry you wish to sell for cash, walking into the local pawnshop or jewelry store without doing any prior research can lead to a bad deal. Since the price of gold, along with other precious metals, changes on a daily basis, not knowing the current market value will give jewelers an advantage when negotiating on price. However, if you understand how gold jewelry is priced, then you can tip the scales in your favor if someone tries to go low. Keep in mind that if you have diamonds, or other precious stones embedded in your jewelry piece, it makes the appraisal process much tougher, which is why you may want to seek out a business which takes precious stones seriously when trying to sell gold diamond jewelry in Atlanta.
Appraising Your Gold Jewelry Piece
Most unwanted gold which gets sold to your local pawnshops and jewelry stores gets melted down, which means it’s only worth its weight in gold. This is because older jewelry is either out of style, or too damaged to resell. The more stores you try to sell your piece to, the more damaged it becomes because of the testing methods most precious metals brokers use. If your jewelry piece is not in good condition, then its weight in gold is the best you can hope for. To get a ballpark figure of what your item should be worth, all you need is two pieces of information. First, you’ll need to determine the karat of your gold jewelry. This can usually be determined by finding a stamp on the inside of your item, and then doing a quick online search to determine what that stamp means. Sometimes the sign is obvious, such as 24k, but at others it’s not. After that, you need to look up the current market value of the karat relating to your jewelry piece, which is shown as price per gram, and then weight the item to determine its full worth. Dealing with diamonds is more difficult when SELLING GOLD IN ATLANTA, since the appraisal process of precious stones is more complicated.
Diamonds and Other Precious Stones
If the ring or necklace you wish to sell happens to be in bad shape, then you should consider taking the precious stones out. Diamond carat and gold karat are two different measuring values. There is no stamp on a diamond that makes this easy, instead this is determined by weight, size and crown area. You can’t tell what they weight without taking them out first, and the only reason to keep them in is if you wish to sell the entire jewelry piece for much more than its weight in gold. Choosing to keep precious stones inside a poorly conditioned jewelry piece can actually set you up for a scam. Some unfair jewelers may try to tell you that the stones in your piece are too small to be worth anything when you’re trying to sell gold diamond jewelry in Atlanta. Later, they’ll take those stones out themselves and sell them.