It's a common practice, especially in India that people sell their jewellery in need of funds during emergencies. But in most cases, you get paid much lesser than what you deserve.
In midst of your urgency for money and lack of luxury in time, you have only the option to accept what the buyer gives. Banks who sell Gold bullion, coins, or bars do not take them back. You are, therefore, forced to sell your gold for cash to any buyer like a pawn broker, a local jeweller, a goldsmith, or a craftsman who deducts a huge amount as wastage, melting loss, etc. Ultimately, you get paid cash for gold, of value which could range from 60-65%.
When you plan to sell your gold, it is worthwhile to visit a few gold buyers to obtain the best quotes. Sell your gold, to the best bid that you receive for your gold. This shopping is worth spending your time.
How pure is your gold!
Before you Sell Your Gold, check its purity first. You need to know the purity of your gold jewellery as purity determines the value of the gold. The purity of gold is measured using a karat meter and then would give you a cost estimation. The purity of gold is always measured in 'Karat'. In general, it can range from 18-24 karat, though there are lesser karats. A high karat indicates higher purity of Gold.
Know the worth of your gold
It is always important to understand the worth of your gold in absolute terms to avoid being cheated. Weigh the gold and look for the hallmark based on current gold rates to evaluate the worth of your gold jewellery. Many unreliable Gold Buyers try to cut add-on charges to buy it for a lesser amount than the worth. So, it makes you more confident in selling.
Check for the genuineness of the Buyer
After shortlisting the buyer for your gold, check the buyer's credentials. This can be checked online or checking with known previous sellers.
Deciding on the gold buyer
The last step is to freeze the most widely Trusted Gold Buyer. Now that you have looked into the mandatory aspects, to arrive at the correct last decision. Think about your convenience, testimonials available, and the legitimacy of the buyer, in addition to other things listed above.
When you need money on an urgent basis selling gold is the easiest way and is practiced across the world. But as a customer, ensure to take the right direction by following these tips, so that you can get the best deal.
Ashirwad Gold, who are buyers of gold, can be of help in such a situation. You get the best price for your gold ornaments. After checking the purity, the gold price applicable on that day is paid to you.