If you have gold jewellery it is important to know how much it is worth by having it professionally appraised. An appraisal is essential for insurance purposes, it is recommended you try sell your jewellery privately first as a jewellery piece before trying to get cash for gold from a gold buyer.
What is an appraisal?
A piece of jewellery is appraised for the quality of gold, the value of the gemstones it may have and the craftsmanship. A professional appraiser will give you the retail value of the piece based on those points taking into consideration how old and how worn it is. This can be regarded as the replacement value of the piece of jewellery. The price will be different when you get your jewellery appraised by a “cash for gold” buyer. It will appear that most gold buyers will offer to buy your gold jewellery for much less than it’s “worth”. This is because are not interested in the design and craftsmanship of a piece of gold jewellery as say, a jeweller is. They are mostly interested in the gold content – quantity over quality.
A scrap gold buyer’s appraisal may not be the best for you if you have good quality, designer jewellery that you’ve only be worn once or twice. You may also find a better deal on diamond-encrusted jewellery if you take it to second-hand jewellery buyers who are interested in quality pieces they can sell for profit. In this case, you need to look for appraisers with the right qualifications like certificates or diplomas in gemmology from accredited schools. In addition to that, you should choose buyers with good reputations. They are more likely to give an accurate appraisal of your pieces and not try and lowball you because they have a reputation to maintain. Check professional affiliations as well as accreditations with organisations like the Better Business Bureau (BBB).
Online gold jewellery appraisals
These days most businesses operate online. You can buy and sell gold jewellery from the comfort of your home. One advantage of selling gold online is that you can have multiple appraisals and solicit interest from multiple buyers faster than you could if you had to physically take your jewellery from one buyer to the next to get the best possible price.
The internet also makes it easy for you to conduct some background research on buyers you might be considering for your jewellery.
Having your jewellery appraised by an online appraiser might even cost less. The reason is that an online gold buyer or appraiser has a wider market than your local gold buyer. This is important, particularly for buyers who buy with the intent to resell. Such a buyer needs to make sure that he/she can sell your piece quickly. A local buyer is limited by his brick-and-mortar business and does not have that much reach or guarantee on a quick turn around time between buying from you and reselling the jewellery.
Businesses often have to consider overhead costs in the price they put on their services or products. Gold buyers are no different except brick-and-mortar gold buyers have higher overhead costs compared to their online counterparts.
To summarise if you have a nice jewellery piece its worth getting appraisal to try sell is a a jewellery piece. If all else fails then you know you can always sell it for scrap to a cash for gold buyer and receive instant cash.