Gold doesn’t just sit in a drawer. It holds real value. Maybe it came from an old bracelet, a broken chain, or a gift you’ll never wear. And you’ve decided it’s time to turn that metal into money.
But there’s a catch.
The sell my gold jewelry process isn’t as easy as handing it to the first person who says, “we buy gold.” You need to be smart. If you sell too fast or without checking who’s buying, you could lose hundreds of dollars. Some buyers pay well, while some don’t. Some are honest, while other buyers hope you won’t ask questions.
So, the smartest way is to know where to go, what to say, what to expect, and what to avoid. This guide will keep things simple and works best when you want to sell your gold jewellery.
Get Your Jewelry Ready
Start by checking what you actually have. Is it solid gold or just plated? Is it marked with 9ct, 14ct, or 18ct? Look closely because those numbers matter. A higher carat means more gold and this means more money.
Separate broken items from wearable ones. Broken pieces still hold value by weight, but intact pieces with style or designer marks might fetch more if sold as jewellery, not scrap.
If you don’t know what something is worth, write it down and research it later. Keep everything organised. Buyers take you more seriously when you know what’s in front of you.
Weigh It Yourself
Get a basic digital scale and weigh each piece separately. You’re not trying to price it yourself—just get a rough idea. It helps when comparing offers. If you know your chain weighs 10 grams of 18k, you’ll know how to avoid getting underpaid.
Know the Daily Gold Price
Gold prices change every day. Check it before you leave the house. A quick search will show the current rate per gram and then multiply it by the purity of your gold. You’ll never get the full value—buyers need to profit—but knowing the range keeps you from getting tricked.
Even a basic understanding gives you power. No one argues with a seller who knows their numbers.
Compare Offers from Different Buyers
Never take the first offer. Visit at least two or three gold buyers is known for. Look at online reviews first. See what other people say. Some shops have been around for years. Others pop up fast, pay less, and disappear just as quickly.
Walk in, show your gold, get the quote, and walk out. Do that at each place. Then, decide who gave the best deal. A $50 difference may not seem like much, but if you’re selling multiple items, it adds up fast.
Ask the Right Questions
Here’s what to ask every buyer:
- How do you calculate your offer?
- What karat are you paying for?
- Is your scale certified?
- Do you test the gold in front of me?
Honest buyers won’t mind these questions. Shady ones might get nervous. If they won’t explain their process or test your gold where you can see it, it is better to leave the place.
Some stores pay more for certain items, while others pay only for weight. Asking questions reveals who’s trying to help and who’s just trying to buy cheap.
Avoid Pawn Shops for Gold
Pawn shops can be helpful—for loans or quick cash when time matters. But for gold, it may not be an ideal place.
They usually offer far below market value. Their goal is to resell at a profit, not pay fair rates. Even if it’s convenient, don’t go there first. Use pawn shops only as a last resort or, better yet, not at all.
Watch Out for Pressure Tactics
Some gold buyers Melbourne locals warn about the use of pressure tactics. It’s like saying your gold is fake, claiming it’s worth far less than it is or r offering a “today-only” price.
On the contrary, real buyers let you think. They want your repeat business and don’t use panic to close a deal.
Always take your time and think it through. It is better not to let anyone rush you because it is your gold and you get to call the shots.
Sell Scrap and Intact Items Separately
Scrap gold is just gold by weight. But intact pieces with unique designs, gemstones, or vintage value might sell better elsewhere.
Local jewellers or antique dealers may pay more for a ring or pendant they can resell. Online marketplaces can work, too, but take precautions. Get clear photos, write detailed descriptions, and avoid scams.
If you’re not sure whether a piece is better than jewellery or scrap, get a second opinion. It could mean more cash in your pocket.
Bring ID and Paperwork
Most reputable buyers follow legal rules. They’ll ask for your ID and might ask where the gold came from. This protects both of you from stolen property laws.
If you have receipts, appraisals, or original boxes, bring those too. They won’t always help—but sometimes they do, especially with designer items or pieces with resale potential.
Be Clear About Payment Terms
Some buyers pay on the spot, while others pay by check or bank transfer. Always ask how you’ll be paid and when.
Get a receipt when choosing the sell my gold jewelry process. Make sure the amount matches what you were told and don’t leave without proof. If anything feels shady, trust your gut and walk out. It is better to be safe than sorry.
Keep a Record
Once you sell, write it down like-
- The date of selling the gold
- Items sold
- Weight
- Buyer’s name
- How much you got
It keeps you organised and helps next time. And there probably will be a next time. Having a personal record enables you to track what worked and what didn’t. That’s how you get smarter with every sale.
You don’t need to be a jeweller to sell smart. Just slow down, do a little homework, and don’t get pushed into a bad deal.
People across town are getting different prices for the same thing—just because they asked fewer questions, didn’t compare, or didn’t weigh first. Don’t let that be you. Do it the smart way by choosing a trusted gold buyers Melbourne offers, ask direct questions, and never forget—this is your gold, your money and finally, your decision.