If you keep some gold as a form of investment and need to quick cash, it is always relatively easy to sell. There are places that are better than others when looking to sell gold, and it often depends on how quickly you need the cash, as to which method is best for you.
- Pawn Shops
- Jewelry Stores
- Gold Merchants
- Private Sale
- Auction Websites
Pawn Shops
No matter where you go in the world, a common sight is the pawn shop. A pawn shop will buy, sell, and also lend money, using an item as collateral. Most pawn shops will have a wide variety of different items on offer.
Most communities have a local pawn shop, so it can be a quick and easy way to get some cash when you need it. Whether you are looking to sell gold bars or gold jewelry, most pawn shops will offer you the market price for the gold, and then deduct a commission.
Jewelry Stores
Another common sight that you see all over the world is jewelry stores. Although a jewelry store might not advertise the service, most independent stores are willing to buy gold that they can use to create their jewelry.
A jewelry store will also offer you the market price for the gold, and you may even find that they will not charge you a commission. Although, this will depend on the individual store and you are most likely to get the best deal from one that is independent and not part of a chain.
Gold Merchants
Gold Merchants such as Gold Buyers in Melbourne specialize in the buying and selling of gold and other precious metals. These types of companies buy and sell gold every day, as well as other metals, so they will often give you an extremely fair price, although they will deduct a commission.
If you have any other precious metals such as platinum, silver, palladium, you will also be able to sell these here and cash in on your investment.
Private Sale
If you are not selling plain gold but selling gold jewelry, then this is probably the best way to get the most for your items.
Often when you sell gold jewelry to businesses, they will only give you the scrap value of the gold. They also offer scrap value for any other precious metals and stones that you are trying to sell, and the price offered is often a lot less that what you paid for it.
Selling your jewelry in a private sale may mean that the buyer is willing to spend more money as they like the aesthetic qualities of the piece of jewelry. This option is not always the best if you are looking for a quick sale, as it can sometimes take quite some time before you can find a buyer willing to pay the price that you want.
Auction Websites
Auction websites have the convenience that you can sell your gold without having to leave the house. However, you do have to be careful as there are not only a lot of rogue operators on auction websites, you may not get as much for your precious metals as you wanted.
If you are going to use the services of an auction website, then you will need to use one that lets you set a reserve price so that you get a fair price. Most websites like this use services such a PayPal, and the commission that they charge may be more than a Gold Merchants or pawn shop.
