Over the years it is quite common for people to build up a collection of jewellery. There are the personal pieces one buys going through life. There are the gifts one receives for special events like graduations, birthdays, holidays, and similar. There are the ultra-special pieces from an engagement, honeymoon, or anniversary. Eventually, there are the pieces and items one receives via inheritance a jewellery is passed from one generation to the next. And then there is everything else. At some point, one realizes there is more jewellery in a personal collection than is needed, wanted, or functional. And it is time to trim down to what matters. Selling your gold jewellery becomes a very smart, practical idea in these instances, and it can produce a healthy opportunity for new financial opportunities as well.
Are Gold Buyers Picky?
While the common myth is that only certain brands of jewellery, styles, or names will sell, that is the farthest thing from the truth. In reality, jewellery that is made from solid gold, whether it be 10 carat or as much as 22 carat or higher, will fetch a respectable and fair resale price from a professional buyer in all types of markets. The gold jewellery can be in chain form, solid blocks, connected parts, or hollow inside. If the gold itself is pure and not a veneer on a base metal instead, such as with costume jewellery, then a jewellery owner will have a valuable asset that can be changed into cash through gold selling. Where the rumor of the pickiness comes in depends more on how the gold buyer behaves versus the jewellery being sold. For example, if one goes to a pawn shop or payday loan office to sell gold, or a private gold party buyer, then it is very likely the buyer might come across as pushy, gruff, not interested in debating, and short. That is because their focus is on buying at the lowest cost possible, even at the fair expense of the personal seller. A professional buyer, on the other hand, will maintain a level of decorum, patience and explanation, always. Why? The business of the gold buyer matters far more in reputation and standing than a momentary profit on a single purchase. That is how successful gold buyers maintain established presences in New Zealand, and the smaller operations disappear every year or fall by the wayside.
Even worn-down gold is viable. Some folks worry that if a jewellery piece shows signs of age, it might be a vintage style no longer worn, or it has been scratched that the piece will not be valuable or wanted. The key factor in re-selling old gold jewellery is not the shape or make of the item as long as it is solid gold. It is the gold content itself. Ultimately, gold buyers consolidate the second-hand gold bought and put it all together in lots. These lots, which include a significant amount of jewellery are then filtered and packaged for remelting. The process produces a completely combined gold output that is stored in bars or similar bullion after the melted and consolidated gold cools and hardens. That in turn is then sold on the industrial or bulk market to reintroduce the gold back into the market for new uses. So, again, the style or cosmetic nature of the old jewellery is not an issue for a professional buyer. What matters is the quality and quantity of the gold to be sold.
Finding a Safe Channel for Selling
Of course, as soon as one realizes they do have gold jewellery to sell, then comes the hard part of figuring out exactly how to do it safely. Jewellery of any type can get a person in trouble being flashed out in the open. There are simply too many characters looking for an immediate opportunity to just grab something and run or take a swing at a person for a chance to steal something in the chaos. This is particularly problematic in urban centers and big cities.
Secondly, the typical immediate places one sees in common marketing and street signs tend to be places most people probably would not want to be walking around or near or in bad neighborhoods. The most common of these institutions are technically legal businesses, but they cater to and operate in areas where they know people are desperate for cash right away. Pawnshops and payday loans offices as well as corner stores with a “gold buyer” in the back fit in this category. Again, they will technically buy gold, but just going there and dealing with them is an experience most people simply just do not want to deal with if they can avoid it.
Instead, the better way to go for the typical private seller is to work with a professional seller that operates via an established business platform. That involves direct business licensing with the local municipality, a long-standing history of business and financial fiduciary performance in the community, and a well-deserved reputation for high customer quality service. Combine these things together in the same operation, and you are going to find a very pleasant resource for selling second-hand gold, including one that is respectable, safe and fair in terms of pricing for gold resale versus the market. No surprise, the obvious follow-up question then tends to be, where does such a business exist in New Zealand? Gold Smart.
Why People Keep Coming Back to Us
Gold Smart has been in operation for years, physically located in Auckland and providing gold-buying services to New Zealand customers both in person and online. We entertain purchasing of all types of gold jewellery, watches, items and bullion. Customers have both the flexibility of bringing their gold to us in person or, as many people are realizing during social distancing now, it is entirely possible to send us pieces for pricing online and through secure courier as well. We evaluate all jewellery shapes and sizes, and our pricing is consistently one of the best returns for private sellers in the country. By utilizing Gold Smart, personal sellers can tap into the gold market safely and securely without concerns of loss, fraud, scams or insult. Instead, people receive a great price as well as a viable opportunity to move old jewellery out of their home and taking up space into usable cash that can go towards a home or car down payment, education, a big trip or vacation, a gift, or new jewellery ideas and a modern updating of one’s personal accessories.
Our top goal is to make gold selling easy and enjoyable again. There is no reason for selling one’s old gold to be a huge challenge or a social stigma. It is your property and your right to do with it as you please. And that even includes changing your mind in the middle of the sale. We regularly have customers who, as they really look at the items, they have for sale have second thoughts regarding a particular piece, usually due to the emotional attachments associated with when the item was received or how it came about. We fully understand these motivations, and we will never try to pressure or coerce a customer into a sale to make a gold purchase happen. That goes directly against everything that Gold Smart stands for. Unfortunately, this is a common practice among less-reputable places, being all the more reason why working with Gold Smart is just a better approach altogether.
The Holidays are Here
With the Christmas season in full swing, as well as the personal need for vacation after all the family duties are done, it is a great time to consider selling old second-hand gold to provide yourself a little getaway. Your old jewellery box may very well be the ticket to spend a week or so of time for yourself after the big family events are over.
Some of the best items that get the biggest resale value tends to be jewellery that has a high carat and weight count. The more weight, the more gold is involved in the jewellery piece. The higher the carat count, i.e., 22 or 24 carat, the higher quality the gold involved. Both factors will significantly boost the resale value of a particular piece that qualifies in these categories. Even 18 carat jewellery will produce a nice return on resale value as well. Some of the most visible examples of this tends to be jewellery produced and sold by Tiffany & Co., Chow Tai Fook, as well as many other large names. However, remember, the company name does not make the gold more or less valuable. Again, it is the carat value and quantity. These company names and brands are simply more recognizable as high-quality right from the start, making the evaluation process easier.
First Time Selling? Not a Problem
The first time doing anything new can be a bit anxiety-driven and nerve abrasive. That is because we are trying something new never done before and there is no reference to work with in memory. It also means eventually, at some point, we have to trust someone else at least in part to help us get through the process. That too can be unnerving and odd, especially for those of us who are used to taking care of things independently. It is okay, and change is definitely not a reason to avoid taking advantage of the second-hand gold sitting in your house that could be going to better purpose for you.
Unlike a number of other gold buyers, our professional team fully expects new customers to be trying to sell gold for the first time. And we focus on educating and guiding new folks through the process as much as possible, answering every question and getting people comfortable with all of the aspects of a sale. Too often, gold-selling tends to be a rushed, uncomfortable affair where people often feel pressured and end up unhappy with the results. This is frequently due to the buyer behavior to make the sale happen. Gold Smart teams do not practice any of that kind of buying. Instead, we will be quite willing let a sale be delayed or cancelled in favor of a customer being comfortable. Why? Because it is our experience that when customers are happy and relaxed in a gold-selling environment, they continue to keep coming back repeatedly. And for Gold Smart, that produces a far better business model than what might be practiced with less-than-stellar operations elsewhere.
Which Pieces Have the Greatest Demand?
Even among all-gold jewellery, there are some items that tend to sell faster and better than others. First, as mentioned above, the jewellery needs to be solid gold. Gold-plated items will not work because, practically speaking, they are not gold but just a thin film of gold attached to a base metal like bronze or lead. Other jewellery that will not receive a price and will be returned will be items that include natural stones embedded in them. It is quite a bit of trouble to remove them, and Gold Smart does not maintain a channel for resale of precious stones. Some other buyers might service this type of offer, but our focus is primarily on gold.
Gold watches with solid gold bands are particularly interesting. Generally, they tend to have more gold weight and content. Rolex watches are particularly valuable and popular and will command a very sizable return when confirmed by evaluation and testing. In these situations, the value of the Rolex versus the value of the gold content might end up being a competition for the seller to choose between. So personal sellers should be prepared to think a bit which is the better route when considering liquidating watches and similar timepieces that are very much sought after on the main markets.
Eventually Things Will Go Down
Gold is not going to stay at its high value forever. Eventually, the market will drop, and high value opportunities for selling second-hand gold will go away replaced by lower value pricing. This is a regular, normal part of any market. In fact, because the gold market was doing so well at the beginning of the year, many expert expected a retraction or pull back to occur in 2020. Obviously, the nature of public health right now changed things dramatically for the rest of the year. That said, once that dynamic settles, gold could reasonably shift again as consumer and market sentiments change. As a result, anyone who is on the fence considering selling gold right now would probably be in a good moment to do so. As we have seen, what is expected for a coming year can change dramatically some 12 months later.
Gold Smart will always pay the best, fair price for second-hand gold tied to the market and its changes. We stay committed to this principle to protect our customers for the long-term. However, even we will see prices drop on what can be offered eventually, simply because the market has gone down, and gold needs have decreased. Given the current indicators, we do not expect this to be immediately soon, but given that the current market is at its relative highest since 2013, selling old gold jewellery right now makes a lot of common sense if one is trying to achieve the best relative pricing possible on personal inventory.
To find out more and make your personal sale happen give us a call or reach out to Gold Smart online. We can meet with you in person, even with social distancing, or you can take advantage of our online secure courier shipping method. Either way works extremely well and keeps you safe and protected. You are highest priority in gold-buying, not the sale. That is what makes Gold Smart so different from other avenues today.