Things to know about selling your gold

Remember: when you sell gold, you are being paid the scrap value of your piece and not the market price. Plenty of people are disheartened by their initial offers as the jeweler’s appraisal they got suggested a much higher price. Another thing to remember is that the purity of gold can vary per piece.  With that in mind, here are three more ways you can sell gold in Manhattan.

Pawnshops:

Very easy to find and lots of people in Manhattan choose to sell gold in these kinds of shops.

Pros: They usually offer to buy your piece on the spot. You also have the option of getting your piece back should you suffer from seller’s remorse; be prepared to pay more than you got though.

Cons: Prices can vary depending on the pawnshop but they generally have the lowest offers compared to other methods. They’re only good if you’re in a rush but it is advised to sell gold elsewhere.

Pawnshops are quick and convenient but if you aren’t in any particular rush, you could probably get a better price when you sell gold elsewhere.

Hotel Gold Buyers:

Another common way to sell gold, you usually see plenty of ads like this in Manhattan.

Pros: They are easy to find and you can sell gold as well as other valuable things to them.

Cons: They don’t usually stay in one place for very long so they have a tendency to pressure you to sell gold to them. Their high overheads also mean that you can expect around 40% to 60% of your gold piece.

When you sell gold to these types, it would be best to have it appraised by another jeweler so that you or to get a different offer so you have a point of comparison.

Gold Parties:

A twist on the concept of a Tupperware party -- you sell gold with other people in Manhattan instead of buying Tupperware.

Pros: It’s definitely the most fun way to sell gold in Manhattan. You have fun with friends and you go home with more money.

Cons: How much you get depends on who the host is. Gold party hosts sometimes have a reputable jeweler but they usually buy a gold appraisal kit – Not all gold party hosts will get a fair estimate.

While gold parties are fun, it isn’t the ideal place to sell gold to in Manhattan; unless of course you trust the host of the gold party.

Finding Jewelry Buyers in NYC Safely

Depending on your jewelry and your situation, it could be either very easy or tearfully difficult to part with your jewelry.  Whatever your reasons, once you’ve made up your mind, there are always precautions to take when looking for jewelry buyers in the NYC area.

The most important thing is your personal safety. Finding jewelry buyers around NYC requires having to deal with plenty of strangers. First of all, never meet with any interested buyer within your own house. This is for your own protection. Choose public locations to ensure your personal safety. A good location to meet interested jewelry buyers would be their bank. The security of the bank will keep things safe and if they so choose, they could take out some cash right there and buy your piece on the spot.

You should also get into the practice of taking a friend with you when meeting with interested jewelry buyers. Barring that, you could simply alert somebody of your whereabouts during your meeting. When leaving ads for jewelry buyers in the local NYC newspapers, set up a new email as your contact details for the sole purpose of selling your jewelry; this is to ensure no personal details can be traced back to you. Fraud should always be a concern when dealing with strangers. Do not give out anything that can be used to find out more details about you, such as phone numbers, Facebook accounts, etc.

If you do find yourself having to meet with one of your interested jewelry buyers, be on the lookout for people­ loitering around the area just watching. A common tactic to lure sellers used by fake jewelry buyers is giving out a very good offer but refusing to meet in locations of your choosing.  Con-artists often work in groups. When dealing with one, be sure to keep a constant eye on your jewelry, switching jewelry is one of the oldest tricks yet that still fools most unsuspecting people. Should you ever feel nervous or suspicious of any jewelry buyers, cancel your meeting with them. Always be diligent and keep alert.

Following these tips should ensure your safety and should lead you to good jewelry buyers without incident. It may take some time but getting the best price for your jewelry should make it all worthwhile.  Remember to stay patient and the right kind of jewelry buyers around NYC will eventually come to you.