The value of gold has been quite low this last year; however, this precious metal recently surprised investors and market analysts alike by rising in value to over $1,300 per ounce. Some individuals are taking this as a sign that gold will once again rise in value and are buying back gold investments they have sold over the last year. Others, however, are taking advantage of gold’s quick rise in value to sell gold jewelry, watches and other similar items made from this precious metal.
If you need quick cash in hand, then there is no better time to sell gold than the present. While gold has always been considered valuable and always will be, prices do fluctuate wildly depending on market conditions, supply, demand and other circumstances. You could hold on to your gold and wait to see if prices continue to rise, but doing so does pose a risk of losing money instead of turning a higher profit.
Tips on Selling Gold Jewelry Items
If you decide to sell gold items now, be sure to find an honest dealer who will pay a high price for the item in question. Unlike gold bullion coins and gold bars, the value of gold jewelry is based on more than the amount and purity level of gold that it contains. The age, rarity and model of item in question all have a bearing on how much it is worth. If the item is an antique, have it evaluated not only by a precious metals dealer but also a professional appraiser.
Because the value of gold is presently quite high, it could be a good time to sell off gold jewelry, watches and other heirloom items. If you are considering doing so, be sure you get the best possible price by having the items appraised first and then visiting various dealers and comparing price offers.