Gold pricing has always been a stupendously difficult subject to study. Whenever you search for the best old gold selling rate in Delhi, Mumbai, Chennai, or any of the top cities you are living in India to sell your gold ornaments at its first-rate terms, there are so many different factors that go into it.
It doesn’t mean you must stop studying and selling gold jewellery. Instead, read on to learn the most common mistakes while selling old gold jewellery in India.
Here is a quick look at gold jewellery sellers’ most common mistakes while trying to sell their old gold jewellery in India.
Most Common Mistakes To Avoid
1. Too high
This is a common mistake among sellers of gold jewellery. You will get more if you sell your gold jewellery in India at a reasonable price. The price should be decided while considering all the factors, including purity level and weight, as well as the general trend in the market.
Know the prices of your jewellery type from reliable sources like jewellery stores or other people, or research it online. With this information, you will better grasp the market and trends.
2. Trying To Sell Gold Jewellery From a Shop
This is not advisable unless you know the owner or are a regular customer in the shop. They have their policies. Even if they agree to pay you a higher price than the rest of the market, they will not share it.
Some people don’t realize the real value of gold. They might have purchased their jewellery years ago at a price that’s barely worth anything now, or maybe they don’t know why gold is so expensive in the first place. So it’s always better to think of more options around your known circle of people.
3. What You Should Do Instead
Try to sell gold jewellery through a top reliable gold buyer jeweller. Or, if that’s not possible, find an individual buyer and deal directly with them. Recommendations from friends, family, and acquaintances are immensely valuable in these cases.
Avoid giving them any information over the phone or email that could lead to identity theft. Also, get the payment delivered to you in person instead of sending a cheque, money order, or other payment methods you can’t verify easily.
4. Taking Unnecessary Risk
This is especially true with online selling. There are countless scams, and online selling can sometimes be too informal to be trustworthy. There can be more than one person who says they are buying your gold jewellery, but one of them is not real and will disappear completely after taking more information about you.
5. Wrong Choice Of Gold Jewellery To Sell
This is another common problem. Some people think their gold necklace or a pair of earrings will get them the best price, but that’s not always true. In the marketplace, there is no such thing as the “best price.” Different forms of gold jewellery have varying costs; you should know this information.
So knowing some detailed information about your jewellery type or ornament will increase your chances of getting a good price in their type.
6. Not Knowing Where to Find a Good Jeweller
Price factors may sometimes differ depending on the area you are searching. Let’s suppose you are living in Mumbai and after knowing the good old gold selling rate in Mumbai or anywhere you are selling your old in your area. Make sure the person you’re selling your old gold jewellery to has a strong reputation by checking their credentials first. It’s worth it to give a jeweller a chance if they’ve been in the business for a while.
You never know where you’ll come across the next great gem!
Additionally, authorized gold buyers must ensure that their customers are insured, and it’s their responsibility to follow all federal regulations for buying precious metals and gems. They also provide insurance with each purchase so you can be assured that your piece is properly cared for until the time comes that it gets sold.
7. Selling Gold Jewellery In a Way That Constitutes Risk For You
The best way to sell gold jewellery is to sell only when all the risks are off, and you are not taking any risk in selling. There are many ways in which selling too much gold jewellery can be risky for you, perhaps even putting your life at risk.
So sometimes, consider selling your jewels into pieces to avoid risks.
You surely know the value of your old gold jewellery. It’s just that every time you think about selling it, you’re so overwhelmed by the prospect of advertising and marketing your item or going through a lot of hassles that you hold back. You would be interested if there was a way to sell gold jewellery without all the fuss.
Well, we understand! That’s why we’ve compiled a list of mistakes to avoid while selling your jewels. These mistakes can make things seem even more complicated than they already are and will keep your precious gold safe from getting stolen.