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Selling gold jewellery - advice please?

Werdnal
Werdnal Posts: 3,780 Forumite
Part of the Furniture Combo Breaker
edited 1 August 2013 at 3:41PM in Boost your income
My mum passed away just over 12 months ago, and in sorting out her effects, Dad passed on a lot of her jewellery to me. I am not really into much other than the 3 rings I usually wear and whilst I am keen to hang on to the more sentimental rings that were my mum's own, there are several of unknown origin that have been passed down through the family from great aunties and I haven't a clue where some have even come from. Most seem to have hallmarks although difficult to read, and several have stones too.

I also have a 5 bar gold bracelet that was my grandmothers, but its far too dressy for me, and I have never worn it since inheriting 20 years ago.

I would like to have the rings and bracelet valued to sell, but not sure where to go. We have 2 independent jewellers in our town, both of which advertise that they buy 2nd hand items, and another regular trader at our local indoor market. Should I approach all 3 to get comparable values? I would rather they were taken to be sold on, than scrapped and I am wary of the "send us your old gold" adverts. Would I get better price if I got a valuation, added on a few £, then sold online myself, as I appreciate a jeweller buying will want to mark-up to sell on? Just seen an eBay ad for an identical bracelet for £270, but doubt a trader would pay me that much.

Any advice appreciated. Thanks

Comments

  • heart_free
    heart_free Posts: 1,204 Forumite
    Take te jewellery to an independent jeweller and ask for a valuation. They hold give you the resale value of the items, plus the insurance value - which is hat you would expect to pay to replace them.
    You can always sell items privately for more than a trader will buy tem from you for. The trader, whether a jeweller, antique dealer, market trader etc will need to be able to make a profit when they sell the times on.
    I would be very wary about te cash for gold people. They will pay you te day value for te weight of the good, whereas the jeweller would take this into account along with other parts of the item, stones etc, and overall design to come up with a price.
    It will probably be easier and quicker to sell to a jeweller/trader, but more profitable to sell privately.but your first step is to get some valuations. Good luck.
    "I AM DEATH, NOT TAXES. I TURN UP ONLY ONCE."
    - Terry Pratchett
  • Sparhawke
    Sparhawke Posts: 1,420 Forumite
    My mum actually went to a jeweller a couple of months back to find out the value of some of her gold and apart from one who didn't seem to know what she was doing [she worked for cash convertors and only offered £30 for one item while her colleague up the road said he would give £50 all day long] they seemed to be reasonably fair with the prices.

    Unless you have diamonds or rubies and the like you will generally just get the gold value, but there is no harm in asking, and location is important...

    If there are only 1 or 2 shops in your town you will not get as good a price as in the gold district of say London or Birmingham :)
    "Don't blink. Blink and you're dead. They are fast. Faster than you can believe. Don't turn your back. Don't look away. And don't blink. Good Luck" - The Doctor.
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