If we’ve been approached with an offer to sell gold jewellery this is what we need to know
With Christmas coming up, lots of us might consider selling gold jewellery to make a bit of extra cash quickly.
Selling on old jewellery can be a good way to make some money. But as with all things, there are scammers out there who’ll cheat us if they can.
So what’s the best way to sell gold jewellery?
First of all, we shouldn’t rush into any sale. A local jeweller may agree to value our jewellery first.
But many high street jewellers also buy old pieces so if they are considering buying it they may not be 100% truthful about its value. So it’s a good idea to go round a few places.
Some jewellery is worth more as scrap – that means it would be melted down.
But other pieces are worth more for resale, especially if they are very delicate or have precious stones set in them.
There have been ads on TV for decades offering to buy gold but more recently potential buyers advertise on social media and with leaflets. They don’t tend to offer many details of their credentials and they’re unlikely to offer us what our jewellery is worth.
Online sites can be more reliable – but only if we do our research first. We send our jewellery to them for a value, if we don’t like it they send the jewellery back. If we’re happy with it they’ll give us the cash.
We should check out reviews of the site on Trustpilot before sending off any jewellery.
One important thing to remember is that the value of gold goes up and down. We could sell when the price is low, only for it to climb suddenly a few months later.
If we’re selling something we love because we really need cash, there could be a better way to go.