Selling Gold – Guide to getting the best price

If you are thinking of selling gold, the chances are you have noticed the never-ending stream of adverts on the TV informing you that gold prices are at an all time high and now is the time to cash in.

Whether you should sell now or take a chance on the price rising further is a decision no one can make for you, but assuming you decide to sell, one thing is for sure – You want the best price possible.

The only way to be sure you are being offered a fair price is to know beforehand what your gold is worth.

You hear horror stories of online companies offering 20% of the value then only improving their offer when you ask for the items returned.

If there are independent jewellers nearby you can ask them for a valuation, even then it’s good to have an idea in your head as to the true value.

Our How Much is my Gold Worth guide will help you calculate the true value based upon the current market price. Remember this is only a guide and the amount you are offered will generally be less to accomodate the buyers profit margin, but ideally that will be no more than 10-20%.

Once you have an idea of the value, you can set about selecting one of the numerous gold buying sites to do business with.

Some sites display the prices they are offering – Although you will be offered the price on the day they process your items, you can get a good idea of their profit margins by simply deducting the price they are offering today from the actual value you can see on any decent news or financial trading site.

The sites that don’t display prices work on the principle that you send your gold off, they assess it and contact you with a valuation (or in some cases simply send you a cheque, which you are at liberty to return if you disagree with the amount).

These companies know that once you have gone to all the trouble of sending off your loot, you are likely to accept what they offer you (especially if you have the cheque in hand) rather than quibble about the price.

This is why it is essential to know what your items are worth beforehand, don’t be afraid to haggle – remember it is easier for them to simply increase their offer than to package and return your items, losing out on the postage, insurance etc that they have already paid for.

It is certainly possible to get good money for your gold at the moment if you enter the transaction with your eyes open. Best of luck, and feel free to drop by with comments, positive or negative of your experiences selling gold.

For an alternative way to make some easy money – I’d sell my phone

Tags: gold, gold price, gold valuation, sell gold, sell my gold