How to Sell Your Fancy Gold Jewellery with Maximum Benefits

 

In India, gold jewellery is often regarded as an investment. So it is no surprise that in a pinch, many people resort to exchanging gold for cash in Kolkata. Although it is a common practice, many people find themselves being swindled trying to sell their gold. 

Good compensation is especially hard to get for fancy gold jewellery. The popularity of fancy gold jewellery is on the rise despite the Karat value being pretty low. Traditionally, buyers of gold jewellery in India have given more importance to the "purity" of gold and hence its monetary value. However, the modern customer also looks at durability, affordability, and functionality, wanting gold jewellery for daily wear rather than for safekeeping. 

This means that even low-carat fancy gold jewellery can get appreciation in the current market. However, to get the right price for your gold, it is crucial to be aware of certain variable factors.

Understand Your Jewellery

Online shopping is one of the primary factors contributing to the recent surge in the popularity of low Karat jewellery. However, with low Karat or fancy gold jewellery, there are more factors to consider than the traditionally preferred 22 Karat gold jewellery. 

Obviously, the appreciation for fancy gold jewellery will be less than traditional gold jewellery owing to one singular reason: the god content. Let's first understand how 22K, 18K, and 14K gold is different:

• 22 Karat Gold: 91.67% Gold + 8.33% other metals such as silver, zinc, nickel, etc
• 18 Karat Gold: 75% Gold + 25% other metals such as silver, zinc, nickel, etc 
• 14 Karat Gold: 58.3% + 41.7% other metals such as copper, zinc, silver, nickel, etc

Traditionally it has been believed that "pure" gold is the best. However, this is simply a fallacious belief. Most importantly, "pure" or 24K gold can't even be used to make jewellery in the first place, as gold is soft in nature and can't withstand the wear and tear of everyday use.  

Although the gold content in 18K and 14K gold is lower due to the popularity of affordable, light, and durable jewellery for everyday use, it is given due importance in the gold resell market now. Moreover, the durability of 18K and 14K gold means that when you exchange gold for cash in Kolkata, its appearance and condition will attract a good price.  

Understand Your Gold Buyer

In a state of hurry or desperation, it is common to exchange gold for cash at the nearest jeweller. However, chances are you might not get the best price for your fancy gold baubles this way. Always sell your gold to a buyer that has the correct licences and certification. This doesn't necessarily have to be a jeweller. Many accredited gold buyers, such as Cash on Old Gold, are well-known in the gold resell market. 

Always look for a buyer that keeps the entire process of selling your gold transparent. Trusted gold buyers will examine your fancy gold jewellery in front of your eyes and avoid doing anything to make you question the legitimacy of the process. This can include taking your jewellery to a back room for testing. 

A reputed gold buyer will use XRF or X-ray Fluorescence technology to test the gold for impurities. This also makes the process transparent and doesn't damage your jewellery. Traditional people sold their gold to jewellers or at pawn shops. This didn't yield a favourable outcome for the seller because of inaccurate weighing scales, hidden charges, and other unethical business practices.        

Understand the Market

Knowing the value of your fancy gold jewellery is one of the most important things to keep in mind to get a good value while exchanging gold for cash. You can find out the current market value of gold with a simple search online. Make sure that you take the information from credible sites only.  

Staying informed of the current gold rate will allow you to have a benchmark to compare offers. This will ensure you don't have to part with your baubles at a lower price than the actual value. 

The resale value of your fancy gold jewellery mainly depends on the "purity" or gold content. Earlier, this would have meant that reselling low Karat gold did not have any benefits. However, the exponentially rising prices of gold have meant that even 14 K and 18 K gold jewellery can be exchanged for a lucrative price.

Conclusion

Traditionally in India, gold has been regarded as an investment; hence, the focus is on high Karat value. However, the modern customer has a different set of priorities. The fact, further reinforced by rising gold prices, means that even 14K and 18K gold jewellery can be exchanged for significant benefits.  

Accredited gold buyers are more likely to offer you a fair price for your fancy gold jewellery than local jewellers or unlicensed second-hand gold buyers. Your jewellery is precious to you, and whatever reason compels you to part with it doesn't mean you have to sell it at a loss. Make sure to thoroughly check reviews online and be aware of your gold's value to get the right price. Always value the reselling process's transparency and confirm the payment mode for a seamless and hassle-free experience.