Have you just inherited your grandmother’s jewelry? Is an old gold ring lying around at the bottom of your drawer? Here are three pro tips for reselling your gold jewelry at an attractive price. And this month of May is particularly opportune.
Are you no longer wearing your jewelry? Sell them! Sophie Blondel, head of the Comptoir National de l’Or agency in Amiens, shares her tips for transforming your gold into cash. Some particularly welcome advice when your jewelry box is overflowing with old charms or you have just obtained an heirloom. What are the steps to follow ? How much can you expect to get from it? Take notes.
Several factors impact the resale of your gold jewelry. First of all, “the price of gold is generally based on its weight and purity. The more pure gold the jewelry contains (measured in carats), the higher its intrinsic value will be”, explains Sophie Blondel. Moreover, “jewelry with a unique design or exceptional craftsmanship may have a higher value because of its aesthetic appeal and the quality of its workmanship”, she continues. Another detail not to be overlooked when valuing a piece of gold jewelry: the presence of gems. The expert indicates: “If the jewelry is adorned with gems like diamonds, rubies or emeralds, the quality, size and value of the stones will also contribute to the overall price.”
Likewise, the presence of a brand or signature will play an important role in resale. “Jewelry from renowned designer brands, such as Hermès, Cartier, Rolex or bearing the signature of reputable manufacturers may have additional value due to its authenticity and prestige”, declares the agency manager. Without forgetting the general condition of the jewelry and market demand.
However, three tips should be taken into account if you want to maximize your profits when reselling your gold jewelry. The first is to monitor the price of gold. Indeed, when it is high, you will have more chances of increasing prices tenfold. And good news, since in this spring of 2024, a gram of pure gold has reached 70 euros. A more than favorable time to profit from your gold.
Another little technique: contact a specialized counter. “Unlike a jewelry store or an online platform, you will be confronted with experts capable of accurately assessing the value of your jewelry at a fair price,” confides Sophie Blondel. However, be sure to check if the company is reputable to avoid scams. Finally, target times of year when demand is high. This can be when the price of gold is high, but also before the end of year holidays and Mother’s Day. You will have understood, this month of May 2024 is particularly opportune, so it’s up to you!