Getting the Most Money for Your Unwanted Jewelry: How to Sell Gold in White Plains, NY

by | Aug 19, 2014 | Jewelry

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With gold and precious metal prices reaching all-time heights, many people in White Plains are deciding that now’s a good time to sell their unwanted jewelry. Still, there’s a right way—and a wrong way—to sell gold in White Plains, NY if you want to get the most bang for your buck. Here are some simple tips to help you sell your gold jewelry for what it’s worth without getting duped.

Know Your Dealer


It may be tempting to head to the nearest pawn shop with your gold to get fast cash, but a little restraint can net you a better price for your jewelry. According to experts, the most important thing to find out about a gold dealer before you do business with them is to make sure they’re accredited by the Better Business Bureau (BBB). Jewelry stores and gold buyers with the BBB seal are established and reputable businesses so you’re more likely to get a fair price for your baubles. In the White Plains area, Michael Matthews Jewelers is one experienced gold buyer.


Check the Market Price


No matter who you do business with, don’t leave the house without checking the current gold market price for the day. Gold prices rise and fall like the stock market, and a little knowledge will help you feel secure you’re getting a fair price for your jewelry. That being said, don’t expect to get the market price for your gold—buyers need to make a profit too. What’s a realistic goal? You’ve done well if you’re offered 70-80% of the current market value of your gold.


Separate Your Karats


If you’re selling multiple pieces of jewelry, make sure to check the karat value of each and separate them before you offer up your gold for appraisal. 10 karat, 14 karat, and 18 karat gold should all be weighed and priced independently of each other. Why? Different karats are worth different amounts of money, and some gold dealers may weigh all your gold together and offer you the going rate for the lowest-valued piece of jewelry in the lot.


If you want to sell gold in White Plains, NY, make sure you’re getting a fair price for it. If you follow the tips above when you sell your unwanted jewelry, you’ll pocket more money than if you visit a buyer uninformed.