Four Questions To Ask Before Selling Your Gold

by | Aug 22, 2022

 

Gold is one of the safest available investments, as it typically holds its value or even appreciates even when the rest of the market trends downward. However, it can be challenging for owners to determine the best time to sell, particularly with multiple available buyers. In this article, we’ll cover four crucial questions before getting cash for gold and suggest an excellent Newport Beach jewelry buyer for owners in the area. Keep reading to learn more about selling your gold.

 

1. Is the Buyer Trustworthy?

First and foremost, you should ensure that the gold buyer you work with is trustworthy. While a dishonest dealer may try to offer you a much lower price for your gold than it’s worth, a reputable buyer will be able to provide you with a fair and accurate estimate of how your gold’s current value. For example, suppose the dealer you’re working with seems hesitant to give a detailed estimate or tries to pressure you into making a decision immediately. In that case, you may want to keep looking until you find a buyer you can trust to provide an accurate valuation and excellent customer service.

By working with an experienced Newport Beach jewelry buyer like Mimi’s Jewelry, Inc., you can be confident that you’re working with a company that’s on your side and will get you the best possible price for your gold. We have years of experience and hundreds of positive reviews, so you can trust our team to find you the best possible price for your gold and other jewelry while providing you with the personalized service you deserve.

Additionally, the buyer you choose can significantly impact the transaction time. For example, if the dealer doesn’t provide adequate insurance for you or offer to pay for the shipping of your gold pieces back to you, you may be stuck waiting for weeks or even months to get your gold back or to receive your payment while someone else reaps the benefits in the meantime.

In contrast, by working with a reputable company like Mimi’s Jewelry, Inc., you won’t have to wait long to receive payment or get your gold back once the sale is complete. Our knowledgeable staff will carefully examine your gold and ensure you get the fairest possible price. Plus, once we agree on a price, we can typically issue payment within a day or two so that you have money in hand as quickly as possible.

 

2. Why Are You Selling Your Gold?

Woman selling unwanted gold for cash

Depending on your reason for selling your gold, you may want to prioritize different factors in the transaction. Let’s say your reason for selling your gold is for extra money to put toward paying down debt, buying gifts, or other expenses. In that case, you may want to focus on finding a Newport Beach jewelry buyer who offers a competitive price within a reasonable timeframe so you can receive your money quickly. 

On the other hand, if you are only interested in making a few extra dollars by selling your gold rather than doing anything more with the items, you may find a more lenient buyer willing to pay more. Still, choosing this type of buyer may take longer to complete the transaction.

 

3. What Type of Pieces Are You Selling?

Are you selling an engagement ring, necklace, or bracelet? The more intricate the item, the more it will potentially be worth. As a general guideline, if you have an expensive piece of hand-made gold jewelry consisting of high-quality materials, it may command a higher price than a piece of gold that was mass-produced by a machine using less expensive materials. Similarly, if you have a ring that includes settings with diamonds or other precious stones, it may be worth more than a similar ring without such stones.

Of course, this is by no means an absolute rule, as it depends on the quality and condition of your gold. In the end, the amount your gold is worth will depend on your item’s unique characteristics and the current price of gold on the market when you sell it.

 

4. How Will You Receive Payment?

Jewelry buyer sending payment through online bank transfer

When selling an asset as valuable as gold, it’s crucial to consider how the buyer will send the payment. For example, if the buyer is offering to pay via check or money order, it will be up to you to cash the check or make a trip to the bank to cash the money order when it arrives in the mail. On the other hand, if the buyer is offering to send you the money electronically via a bank transfer, you may never need to lift a finger to get your money once you accept the offer. Therefore, whether you accept cash payment or a wire transfer, selecting a payment method that works for you is crucial to successfully sell your gold.

Choosing a reputable gold and jewelry buyer can help ensure you receive your payment promptly and reliably. A reputable buyer will typically have a storefront where you can meet with a customer service representative who will guide you through the entire sales process and explain available payment options. Many reputable buyers also offer the option of sending your payment via direct deposit into your bank account once they receive the gold or other pieces of jewelry in the mail.

 

Sell Your Gold to a Trusted Newport Beach Jewelry Buyer Today

If you’re interested in selling gold or another piece of jewelry, the team at Mimi’s Jewelry, Inc. is here to help. As the premier Newport Beach jewelry buyer, we specialize in buying gold and silver from all types of customers at fair market value prices. With years of experience buying and selling precious metals, you can count on us to provide you with an honest and fair offer for your gold. To learn more about our process and receive a free appraisal for your items, call Mimi’s Jewelry, Inc. at (714) 964-7851 and schedule an appointment today.

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