David Adamson Designer Jewelry

Tough times, high gold prices and commercials about selling gold jewelry for cash have many wondering how to sell their jewelry.

With the price of gold hovering around $1,600 an ounce, it seems like a no-brainer to sell off old jewelry to be melted. Not quite.  First you will want to check the current market value of gold.   It is also important to know that no one will pay the current top dollar for gold, because that would leave no room for profitable resale.  Pricewise, you can expect to be offered somewhere around 40% to 95% of the actual current price, OR LESS! Every offer will differ. Jewelry is not usually 24 karat gold, and price is adjusted by the actual karat gold percentage in the jewelry item.

Also, a gold necklace bought for $200 won’t be worth $200 melted down. Even the price of a piece of jewelry bought on sale from a retailer is usually far more than the intrinsic value of the metal.  The price of gold also fluctuates daily, affecting payment.

Before stuffing necklaces, earrings, brooches and rings into a pre-paid envelope and sending it off to be melted down, go to your local jeweler and check to see what you have.  You should go through the whole jewelry collection first. Separate plain gold pieces from those with gemstones. Most cash-for-gold companies will not compensate a seller for any gemstones included with jewelry.  Among local jewelers, only some will compensate you for diamonds and gemstones, so make sure you ask before selling your items.   The advantage to dealing with someone local is that if you do not like the offer made you have the right to reject it and walk away with your jewelry.  That is not the case with the “mail-in” companies as these will usually assay (melt down and analyze) what you send in before making an offer, leaving you with a melted glob (unrecognizable and unsellable) if you reject the offer.

Before you sell, make sure jewelry isn't antique and therefore worth more intact than melted down.  Broken, plain gold jewelry items are good candidates for the refinery. Hold on to pieces with gemstones and intact jewelry, especially if they are antique pieces or from a famous designer.  And never sell something that you treasure or wear regularly as replacing it later may become very difficult or impossible.

Getting the most for your old jewelry will require some research and a little effort on you part, but will be well worth it. Your local jeweler should be able to give a good estimate of the piece’s worth, and may even offer to buy the piece.  Most jewelers can provide a “fair market” appraisal on your jewelry, but make sure that the fees charged are a flat rate and not based on a value percentage.  Ask friends and family whom they recommend and always deal with someone reputable.

While cash-for-gold commercials are tempting, it’s important for a seller to examine his or her collection first. Broken or unmatched plain gold jewelry may bring in the most cash when melted. Rings, necklaces, earrings, bracelets, brooches or watches that have gemstones, are antique, period or designer pieces will probably bring in more money intact. So do your homework, deal with someone you know and trust and you’ll walk away with a smile and some cash to boot.



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