Everyone loves gold. It’s brilliant, shiny, has a weight to it that people love and, frankly, it’s a darn good investment financially. On the other hand, if you need cash quickly selling your gold can be very fruitful as well. Selling your unwanted gold has never been easier, and the proliferation of websites and gold market tracking boards that can be used to track the cost of gold worldwide make it possible to track gold values literally at one’s fingertips via a smartphone. All of that informational power in turn makes it possible to confirm that one’s second-hand gold is being bought for a fair and reasonable price.
As it was centuries before, gold remains one of the most valuable commodities in the world today. It withstands the test of time in ways that many other metals do not. Not only is it beautiful to look at but the jewellery created from gold is worn by men, women, and children worldwide.
In different cultures, gold is given as gifts on special occasions such as weddings, birthdays, and anniversaries. It’s officially the gift for the “golden anniversary” of marriage at 50 years. And the fact that gold itself comes in a few different quality forms measured by carats makes it possible for many to have access to gold at different income levels. It’s most commonly sold in 10k, 14k, and 18k with related pricing for each level of carat closer to pure gold (24k). And gold can be obtained in white, gold, or even rose color variations.
The above demand in turn continues to make gold valuable when it comes time to let it go. No surprise, this is why the yellow metal was formed into jewellery for years, providing a wearable form of security for women during ages when their spouses could end up being killed the next day in military activities or by simple accidents in the wild. It was the financial safety net for many cultures long before government welfare was ever even thought of as a program for the poor and disabled.
And, just like those in ancient times, today folks may find selling their gold is timely, useful, and smart, especially that gold has been held for a long time. It’s no secret that gold value has gone through the roof compared to where it was 10 and even 15 years ago. The appreciation of the precious metal’s value has been tremendous, and it continues to be supported at high levels that aren’t likely to drop anytime soon. In fact, if economic instability shows up again as it did at the beginning of 2020, gold could easily skyrocket as people seek a safe harbor in finance to hold onto value and avoid market losses. As a result, anyone who right now is thinking about selling gold is still looking at a good opportunity. That said, whom that gold is sold to can make a big difference. There are lots of gold buyers in New Zealand, but that doesn’t mean they are the best choice for an honest and fair Kiwi price and deal.
Getting Started with Selling Personal Gold
Selling personal gold can be a very effective way to create additional financial capital for families. However, when considering selling gold in New Zealand you’ll need to be sure you are selling gold to a gold buying company that provides the best rates, full privacy and discretion, personal and friendly service, and knowledgeable staff. It’s not worth taking the risk to just go with the first buyer that comes along – your intuition is a great asset when considering which gold buying company to sell to.
It is incredible how a small amount of gold jewellery can add up to a significant amount of CASH. It may only be a few handfuls of gold jewellery that you are considering selling, yet that could be several hundred if not thousands of dollars when liquidated. Unfortunately, that incredible value doesn’t go unnoticed. An amazing number of less-than-stellar buyers have appeared over the years in New Zealand, looking to separate people from their gold at prices far less than what the precious metal is worth. As selling gold has become more normal for customers around New Zealand, many borderline buyers have realized that there is a goldmine of its own in easy consumer targets. And by waving some ready cash in hand, many of these buyers are having throngs of Kiwis marching to their doors for ready sales, often selling their personal gold at values that are 30 to 50 percent less than what people should be getting paid. These financial victims only realize how badly they’ve been fleeced once the buyer has their gold and is long gone or they’ve agreed to an unscrupulous business legally without any recourse for recovery.
Understanding how to sell starts first with understanding whom the buyers are. Gold buyers in New Zealand fall into four categories:
- Private buyers
- Pawn shops and corner store buyers
- Jewellery buyers
- Professional gold buyers
Private buyers oftentimes are not even legal businesses per se. They operate with a wad of cash and show up with little notice, offering to buy any gold available. Because the settings tend to be in a pub, a hotel meeting room, someone’s home at a party or similar, the social pressure is one to commit and enjoy the buying. In fact, turning the buying into a party is one of the common tactics. People can’t handle transactional math very well after a few pints, even if they have a math degree. The buyers will play a lot of sleight of hand, argue the gold involved is a lower quality carat after visibly testing it with a handy tool, and then the seller feels obligated to accept the cash being waved in front of him or her. The next day the buyer is long gone, having left town that night and not even staying in his or her hotel room, and the sellers wake up with a hangover realizing they may have just made a big mistake.
Pawn shops and corner stores situate on purpose in neighborhood areas where things tend to be financially harder. They know these locations are where the market exists to get valuable property by providing quick cash loans against the personal goods provided as collateral, including gold jewellery and assets. The business makes its money regardless; either the borrower pays the loan back with hefty fees, or the pawn shop gets to keep the property, having “bought” it with a cheap loan for less than the worth of the property. Pawn shops also outright buy gold too at extremely low prices, again waving ready cash for what’s available. Most people visiting sell even when they know the item is worth more. Financial desperation has that effect. The only difference between the pawn shop and the corner store buyer is that the corner store doesn’t pawn any property; they just buy the gold outright but still at low prices. Because of the ready cash and easy liquidation of gold, pawn shops, and corners stores have frequently been a problem with property crime and fencing stolen goods.
Jewellery buyers work out of regular jewellery dealership, but buying second-hand gold is not their primary business. These buyers handle gold buying as an offshoot of their main business, generally looking for prime jewellery pieces they can resell directly, such as jewellery made by Tiffany Co. or similar. Otherwise, the gold they take in simply gets resold to gold consolidator they know for a marginal markup. That means the jewellery dealer has no interest in really buying second-hand gold at a fair price as they aren’t set up to take in lots of it as a regular business. So, they frequently low-ball pricing offered or refuse to buy altogether.
Professional Gold Buyers
Professional gold buyers are the top end of the gold buying stratum. They are licensed businesses and regularly buy second-hand gold to maintain a steady supply of the precious metal. Some work as retail buyers only, then moving their lots onto consolidators who actually melt the gold into bullion form for industrial sale, and others handle both functions by being a retail gold buyer and consolidator in one operation. Both focus on bulk gold consumption, but professional gold buyers also offer personal sellers a way to sell gold at rates that are comparable to real market prices for recycled gold. Remember, even professional gold buyers are a business and need to make a profit to stay operational. So, their pricing will never be equal to the market price for gold. However, they are oftentimes far closer than any other gold buyer type in New Zealand.
What Buyers Look For
If you have a lot of different gold pieces lying around in the back of your jewellery collection, it might be time to sell that gold to get the return on your investment you desire. This is especially true if you have many pieces that you don’t wear anymore or they are broken. Selling gold is a terrific way to make a little extra money for the things you truly need. And professional gold buyers are always ready to evaluate your gold pieces for purchase.
The most likely gold to sell will be pieces and assets made entirely of gold. That includes government-issued bullion coins and bars, raw gold ore which sometimes is given as a give or attached to jewellery, sold gold jewellery such as rings, necklaces, and earrings, and broken gold pieces. As long as the metal is entirely made of gold, it will likely sell. However, items that are gold-plated should not be considered. These are not gold at all; they are just base metal pieces with a very thin film of gold electrostatically or chemically applied to the base metal. Most times, the inside is made of lead, aluminum, copper, or bronze. Additionally, jewellery with stones inlayed will not be viable either. Professional gold buyers aren’t set up to market the stones after separating them from the gold involved. These kinds of jewellery may be better sold to vintage jewellery dealers instead.
If you are planning on selling your gold in New Zealand, then you need to know about Gold Smart, a trusted, professional gold buyer that has been established for years in the industry. At Gold Smart personal gold sellers will find a professional team of friendly people who the seller’s best interests in mind. They are licensed gold buyers, naturally, and will offer excellent prices on gold using a process that will ensure a fair price for all unwanted gold, whether in bullion form, coins, scrap, ore, or finished jewellery. And, if it so happens that you have it, Gold Smart also buys silver and platinum as well.
So, if you live in the Auckland, Wellington, Christchurch, Tauranga, or Hamilton area Gold Smart is more than happy to service your gold selling needs. When you think about the 9 trillion dollars’ worth of gold hanging around all over the world, don’t you want to get your little gold slice of the pie evaluated? It’s not doing you any good sitting unused in your jewellery box. Bring it out into the light to get the money you deserve for all that precious gold. It’s best to go to an established gold buyer specialist like Gold Smart, who will give you the right price for each different carat of your gold jewellery. We aren’t in the business to pressure you to sell either, so don’t worry if you are unsure that you want to part with your jewellery. Showing you exactly what you’ll get for it will help you make the smart decision. Our service is discreet, professional, and has zero hidden costs or fees. Being upfront with the process is part of our value and service to you.
Unique to Gold Smart is our Value Guarantee that outlines our commitment to providing the best rates for gold and silver. We endeavor to beat any price, deliver excellent service, provide full and complete communication, the fastest turnaround time, no pressure, and absolutely no hidden costs! There’s no reason to take risks with other seller types or to be low-balled just to liquidate your gold. Gold Smart makes the entire selling gold process easy, safe and profitable for you.