The obvious reason you would sell gold jewelry is to make money, but the reasons you may decide to do so can be more complex than that. If you aren’t in urgent need of money but have been considering getting rid of some old pieces, now is one of the best times to sell gold jewelry. The value of gold is higher than it’s been in the last three decades so take some time to decide if this is the right time for you.
There are many practical reasons to sell gold jewelry and a few reasons that are purely emotional. No one reason is better than another, but if more than one of these apply to you, it’s probably a sign that now’s the right time to sell.
1. Your jewelry is broken or damaged. If you have earrings without mates, brooches with broken clasps or chains that are kinked and twisted, you may keep thinking, “Maybe some day I’ll get if fixed.” Be brutally honest with yourself. If you haven’t bothered to get it repaired in years, what is the likelihood you’re going to do so now?
You may also be shocked at the cost of jewelry repair these days. The fine craftsmanship required as well as the relative softness of gold both mean a high price tag on repairing damages. If you sell gold jewelry that is damaged, you can use the money you make to buy brand new pieces that are in perfect condition.
2. Your jewelry is out of style. Most people have very particular taste in jewelry so finding the right buyer for older, dated jewelry can be a difficult task. It will be a time-consuming, costly task to advertise for a buyer for older pieces of gold jewelry and there’s no way to know if you’ll ever find the right buyer.
Companies who buy scrap gold, however, are always happy to buy from you, and they don’t care about the style or any damage to the jewelry. They won’t penalize you on the gold price because the jewelry is old-fashioned or just plain unattractive!
3. You don’t have the time to sell gold jewelry pieces individually. Everyone hopes that their grandfather’s antique watch or grandmother’s set of gold pins can be sold to a collector or someone who will cherish them. The reality is that it’s very hard to find the right buyer for estate jewelry, and even if you find someone they probably won’t be interested in everything you have. By splitting things up and selling only a few pieces, you’re cutting into your own time, and you may still have half the pieces sitting around month’s from now.