Selling your jewellery?
We buy gold, silver and platinum jewellery, including gemset
items. We buy foreign gold for resale, as we can get it
hallmarked for sale in the UK. If jewellery is too badly worn to resell, we can
still buy it for scrap.
And in the right hand column
Bring the jewellery to us. We'll need half an hour to
value the items, perhaps longer if they are complicated or the shop is busy;
we'll tell you how long we need when you leave the jewellery. And when we are ready
to give you a price, we can send a
text message to your mobile phone. This means you don't waste
time.
If there was any documentation (stone certificates etc) do bring
them, they could increase the value of the jewellery.
There is no charge for
these valuations.
Do I need to
produce identification?
Yes, we need something with your name and address. A
driver's license is ideal. We'll also accept a recent
utility bill, or a letter from a major corporation, or various
forms issued by the government. You cannot use your passport,
because it doesn't have your address.
If you have the original receipt do produce it as well. It helps
to establish the item's value, and is an extra proof that you
own the piece.
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Do I
have to make an instant decision?
No. You need time to think, and perhaps get other offers. We
normally will honour a quotation for 30 days. However we reserve
the right to change the offer (both up or down) if something
unforeseeable happens, e.g. a sudden change in the price of gold,
or government tax rates.
We do not operate a buyback scheme (allowing you to buy back your
property within a month), so you must make a firm decision before
selling. Of course, if you are undecided, you can always
pawn the jewellery,
which gives you the option to buy it back within 6 months. But
you will have to pay interest on the loan. However this is often a much cheaper option than a buyback scheme.
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Will I get what I
paid for it?
It's very unlikely we will pay you the full retail
value.
To sell jewellery, we incur expenses. First we polish and perhaps
repair the item. Then our staff have to sell it, that takes time
and costs money! The premises are costly, and we need a very high
level of security. The local council charges us rates, and the government takes a
cut (VAT) on everything we sell.
Finally in most cases, second-hand goods simply aren't as
desirable to the public as new.
However about 75% of the people who enquire about selling or pledging do
accept our offer, so we must be getting something right.
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Dealers may not offer a fair
price
Many places are keen to buy your gold, do not trust
them to offer a fair price. Compare prices before you decide
where to sell.
We checked out offers around our town, and were
shocked at the range of prices offered.
One dealer offered £70 on the same day we offered
£100! But increased his offer to £90 when he realised his
offer was not going to be accepted. Morale: Shop around, and if somebody
increases their offer, remember they were trying to trick you. Do
not assume their final offer is fair.
But the worst was the door to door buyer who offered
£18. Luckily the householder was suspicious, but he accepted
our offer of £100!
Buyer Beware used to be the motto, but
in this case it's Seller Beware. Check several dealers to
ensure you get the best price.
How to Get the Best Price when Selling
Look after your jewellery
It's probably a bit late, if you're already thinking
of selling. Jewellery in good condition is worth more.
Gemstones can be damaged, and deep scratches in the metal are
hard to remove. We can get jewellery repaired, but it increases
our expenses, so you will get less.
Buy wisely
Remember people normally prefer new jewellery and pay more for it. So buy
second-hand! That way you will buy at a bargain price, and get
more of your money back if you decide to sell. Some types of
jewellery do command a better price when sold, but that changes
all the time, so we don't like to give firm advice. Of course certain types of older
jewellery are worth more than new pieces, but it would take far too much space - and be very
complex - to give more detailed guidance here.
Get more than the Scrap Value
Some buyers only pay for the scrap gold content of your jewellery.
They ignore the value of the precious stones, and the work
involved in making the piece.
This is not fair to you. Visit a shop which sells secondhand
jewellery, like us. We know how much we can get for your
jewellery by selling it and may give you a much better price than the scrap value.
What about selling
privately?
First you'll have to find somebody prepared to buy it, and
that's not easy. We often have jewellery on sale for months
before finding a buyer.
If you try this, you should set your price above what we pay, but
don't expect as much as our selling prices.
Remember your buyer has to trust you, see our important warning on why nobody can even rely on a written
valuation when buying (that warning is even more important if you've come
here to learn about how to buy at a good price).
We guarantee
everything we sell including second-hand goods, and our expertise
means people know we correctly identify what we sell.
Also by buying from a shop, customers know the law protects them as well. Overall,
there is a lot of work involved in selling, so you must judge if
it is worthwhile.
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Sell through a local auction?
Prices can vary wildly, dependant on both the item and those
attending the sale. The auction house will advise. You will have
to wait some time before you get your money, and do ask about
insuring the item during viewing, as there is always the risk of
loss.
Sell through an Internet auction.
We tried this, and frankly the results were a disaster! We
normally got less than we would pay (after allowing for all the
charges). But things change. Check out an auction, and see what
sort of interest there is in similar pieces.
Jewellery is ideal
to sell on the Internet; we found a lot on sale, and not many
interested in buying. But some types of jewellery do sell well.
So look into it, There's a lot of work involved, and you
will incur expenses if it doesn't sell.
Summary
The more work put into selling, the more you get. We add value
to everything we sell, and get good prices. We always need more jewellery,
so we pay fairly. If you are prepared to invest time and money,
you will probably get more than we pay, but is it worth it?
In our opinion, selling to a dealer is often the best option. Little work, a fair deal,
and it reduces any sadness when selling the jewellery.
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