Getting the Most Cash for Gold – Doing it the Smart Way

Are you looking to sell gold? Pawnbrokers Sydney has been a traditional choice to sell used jewelry and earn fast cash. But now, there are a number of companies online waiting to buy it from you!
These sites are selling and buying innumerable widely varying things – however, you need to be sure whom you are dealing with and what they have to offer.

SELLING YOUR JEWELRY

There has been a rise of companies willing to buy your old broken or unwanted gold jewellery. In case you have any such jewellery then, your aim will be to get maximum cash for gold Sydney out of it. All these online companies claim that they offer the best rates but in reality there is little that separates each of them. There also various pawnbrokers and fraudsters operating as such companies. How can you take a call regarding who is offering the most monetary benefits and is legitimate?

SETTING THE PRICE

Before you go on a selling spree, it is important to note the factors that set the price of the gold. The prices change every moment at the spot market as trading goes on. Other factors that will determine the value will be the weight and purity of the gold in each piece of jewellery. Also, you have to realise that online buyers will offer only 15-50 % of the actual value of your jewellery. They will try to wring out as much profit as they can from your gold ornaments. However, you will also find big business who buy in bulk and can offer a much higher percentage of the actual value, sometimes above 90%. These companies are well established, and some even have their refineries thus eliminating refining costs. Now the main issue is finding these large companies on the net. That in itself is a mammoth task.

CALCULATE THE PERCENTAGE

In order to understand what percentage value you are getting first, you have to know the actual value. For that, you can just search the current market price for gold at the relevant purity level (10K to 24K). Just type “Current market price for gold 22K” and there will be numerous online financial websites giving the necessary information. Armed with this you can make a calculation on how much you should be offered.

Once you start searching for buyers, you will stumble upon websites that will do most of the work for you. These websites will collate data from various customers online. The site searches the buyers, check for authenticity of claims such as fast payments, highest payouts, etc. They also tally the records of the company with Better Business Bureau and check for unresolved complaints on the net. Once they’re done with the data collecting they present it in front of the seller who has to make a call. It is indeed pretty simple with such technology, but we also strongly urge you to investigate further yourself before selling.

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