Over the last decade the market for second hand gold has grown considerably, but for many people the biggest difficulty in such a process is understanding how to sell gold safely. With so many different companies offering to buy your gold and most asking you to send them these valuable items in the post before paying you any money it can make it hard to understand who to trust. This is particularly true in the second hand gold market as many of these companies are relatively new, and many have very similar names and brands.
The truth is of course that the vast majority of these companies are perfectly trustworthy and will do exactly as they say. Yet, despite this, we often get asked how to sell gold safely and so to help our customers, we’ve put together some simple tips about safely selling gold, understanding gold and its value, where to sell gold and how to sell gold in a security conscious way.
FIRST THINGS FIRST: UNDERSTANDING VALUE
The price of gold is driven, as it is with all commodities, by supply and demand. So, given the nature of the gold market, the first thing to keep in mind when selling is to understand the value of what you have and keep up to date with gold prices – this is the most important factor in ensuring you don’t get bamboozled when selling your gold.
To sell gold safely takes time and research. Firstly, because of the wide varieties of gold, you need to be sure of what you have and its value.
- Have your items valued by a dealer, an independent jeweller or the experts here at 62days
- Do you have any relevant documentation to support your item?
Once you have a solid understanding of what your gold is worth, you can then look to your sales choices.
MY OPTIONS TO SELL GOLD SAFELY
How to sell gold safely and how to sell gold jewellery safely is a complex question, and you have a number of different options available to you, depending on what kind of transaction you are most comfortable with.
Selling Gold Safely Online
The internet probably provides both the most compelling way to sell gold as well as the hardest to feel comfortable with. This is due to the nature of the transaction – you don’t meet the buyer in person, you don’t physically hand over the gold and take the cash, so you have to take a leap of faith. There are so many different companies offering to buy gold online that the best advice to take is to do your research.
Check out any company you are considering selling to – what are their company details, where are the registered, do they use any other trading names? Also, check out any reviews of these companies and try to find reviews from users with a mature reviewing profile – i.e. someone who has reviewed many different companies and services over a long period of time – as these are likely to be more genuine than reviews from one-time reviewers.
If you’re considering selling your gold online via a peer-to-peer auction site make sure you follow any security advice from the service itself, as well as from the police, and take great care when selling to strangers. Make sure you know who you’re dealing with and if you can, read their feedback and make contact with other sellers for their experiences.
Overall, your best defence when selling gold online is simply research, research, research. The more you know about the buyer, the more likely you are to understand the risks involved and whether you should proceed with a sale. The more information you have, the better placed you are to sell your gold safely.
Selling Gold Safely at Auction
Selling gold safely at auction is relatively simple providing you know what you have. There are jewellery auction houses who specialise in selling gold jewellery and as long as you have a value in mind, selling your gold safely through an auction house should be straightforward, providing there is interest in the room. You need to be aware of the fees and commissions the auction house charges but if your gold doesn’t sell, or doesn’t reach the reserve price, you will have to look for other ways to sell.
Selling Gold to a Dealer
Ask a dealer how to sell gold safely and he will explain the process of valuation (which you may have to pay for) and purchase. If he decides to buy your gold, he may offer you a price slightly lower than market value because he has to sell your gold on at a profit. For a quick and safe sale for your gold, a dealer could be a useful option.
Selling Gold to a Pawnbroker
A pawnbroker may be the answer to the question ‘how to sell gold jewellery safely’ but again, they will look to loan you an amount based on the value of your gold; their offer could also be on the low side since they too need to sell it on. If you want your gold jewellery back, you have to repay the loan along with interest. Many people turn to pawnbrokers to raise quick funds, or as a way to safely sell jewellery, antiques or to sell watches.
WHY USE 62DAYS TO SELL GOLD SAFELY?
There are plenty of good reasons to sell with 62days, but the main ones are that you are in control of the entire sale process and we offer a completely trustworthy, secure and reliable way to sell gold safely –
- All our valuations are completely free and without obligation, and you have the backing of TRUSTe, the web’s most secure online privacy provider
- We arrange to have your item picked up from a location of your choosing by secure FedEx couriers and we pay all transportation costs
- We pay for insurance for your item while it is in transit, covering you against any potential loss
- Once the item is verified, we pay you straight away, either direct into your bank account or through online payment providers such as PayPal and Google Checkout
- You have 62 days to change your mind and have your item returned to you
- We are experts in our field, and can offer extremely competitive prices
- All you need to do to get started is to simply upload up to five detailed photographs of your gold along with a description and we will send you your valuation
WHAT YOU CAN DO NOW
To sell your gold items safely today, just upload your images and we can start the sale process straight away.