Taking into account that the economy is still in a sensitive place and that the price for silver, gold and estate jewelry is continuously rising, selling your jewelry might be a very good idea.
There are some pawn shops or jewelry stores that permit you to lend against the value of the jewelry.
Some consider this to be a good alternative to bank loans.
But the options are varied, so where should you borrow or sell? Here are five important tips that will guide you through the experience of selling your gold from family estate inheritance: 1.
Understand how it works.
You are not forced to know exactly how much your gold is worth, but it is not a bad idea to have a realist idea on the approximate price or on the manner in which the deal will take place.
When it comes to gold jewelry, an appraiser will tell you a price according to the weight of the piece, measured in carats.
This will be calculated according to the market price and without a handling fee.
The 24K gold is known as pure gold.
However, usually, the gold jewelry has less than 24K because it is combined with different alloys.
But if precious gems are attached, the value goes up again.
2.
Get the jewelry appraised first.
The number of jewelers who claim to buy and sell on the Internet is quite high.
Some of them might be the real deal, while others can be a bad deal for you.
Their style of work implies asking you to mail them the jewelry; afterwards they appraise it and then send back a check.
In order to get a fair deal out of your jewelry, it is better to take it to an appraiser personally and convince yourself of its price.
3.
Search many appraisals.
When you have made a list with various pawn shops and specialized stores, search multiple locations to appraise your jewelry.
If you want your strategy to work, you have to discuss with a specialist that is trained by the Gemological Institute.
This is a standard industry that deals with precious metals and gems.
A member of this institute will have to obey its strict rules and to offer the seller a fair price for his jewelry.
4.
Be always alert.
The market never stays the same and the price of gold can change daily depending on different factors (market demand, economic situations or manufacturing supply).
Always remember that the price you receive for a certain piece can vary according to the fluctuation of the market.
5.
During appraisal.
When you have your piece evaluated, make sure the appraiser is GIA certified and the price offered will be calculated according to the current market conditions.
Keep an eye on your jewelry and haggle if you must.
A professional appraiser will explain every step he takes and he will answer all your questions so that you can understand exactly what is happening.
If you have certain feelings towards the entire process, then trust your instinct.
Also, if you believe the approximation was done correctly and you agree with the appraiser, sell! If not, simply decline the offer and say you'll think about it.
Keep in mind that the entire process of selling your gold from family estate inheritance is about receiving the proper price for it and leaving you satisfied with the result.