Thursday, August 11, 2022

Teaneck—It’s summer time in the fashion world, which means lots of preparing seasonal trends for all kinds of weather and occasions, and jewelry isn’t any different!  Each year, we see numerous styles fly off the shelves only to disappear into hiding the following year. Whether you are regretfully thinking about the few hundred dollars you spent on last year’s “must haves” or debating how to make-over your jewelry box, let us help you figure out how you can cash in on old purchases.

In order to project the value of your older baubles, it’s important to know your karats! The purity, also known as the amount of karats in an item, will determine the value a retailer might pay for it. Fourteen karat gold is 58 percent pure, while 18 karat is 75 percent pure. Platinum jewelry is ordinarily 90 or 95 percent pure and is a completely different metal than gold (with a different value). Knowing what you have before presenting it to a retailer for sale could be the difference between walking away with a few extra bucks or making a worthyexchange for your possessions. To find up-to-the-minute pricing of precious metals, you can always refer to www.kitco.com.

If you have an item that no longer appeals to you, try to find a merchant who sells what you are looking to get rid of, perhaps even the same place that you purchased it from originally. Do this rather than selling your item as “cash for gold.” When a merchant can offer an item for resale, they may pay higher than just the gold melt value.

Another way to maximize value is to bring a number of items you want to sell at one time. Just as in negotiating a purchase when buying a large quantity of an item, you can often bargain a better deal when selling a number of pieces. A retailer might forgo the profits on one item as long as he may profit on another item. Another tip, if you frequent the retailer to which you are selling your items, negotiating store credit for your sale could increase your negotiations by 50 percent.

Lastly, make sure that you seek out a reputable place to sell your treasures. Anyone licensed to buy gold will have a license both from the state and local municipality. There should be a blue sticker on their scales signifying that it has been checked and verified by the weights and measures. Daily prices for gold as well as all licenses should be displayed prominently.

When you finally make your decision to sell, we suggest that you have an idea of what you want to spend your new earnings on. Whether you were hoping to pay off bills or treat yourself to something new, stay committed to your initial idea of where the money is going so that it ends up taking the value as a meaningful purchase and not just found money only to be lost again.

Garden State Gold Buyers and Jewelers has been serving the east coast since 2005. Our success is based on treating our clients with respect and  paying them the fair market price based on the highest, up-to-the-minute gold prices. http://www.gardenstatejewelers.com/

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