How to Avoid Getting Taken Advantage of When Selling Your Gold and Silver.
Selling gold can feel daunting, but you can avoid low offers and being taken advantage of with a few smart steps.
In no particular order
• Dealing with a reputable business. Someone that is established as a local business and not so much an out-of-town space for the weekend to make buys off the local community. Make sure they have the proper licenses in place to be allowed to make purchases in the state of Florida. Licenses prevent illegal operations from happening, it enforces accountability and prevent stolen goods from being liquidated.
• Ask Questions and take notes. Taking notes is important because sometime their story and prices may change and you may not be aware of it. Hold them accountable. If you don’t understand something, ask them to explain or even write it down for you, if they fail to do that, that should be a Red Flag!!!
• Your items should never leave your sight. Ask them to do all the testing and the weighting Infront of you so you are part of it and there is not misunderstanding. If they don’t do this, it’s another RED FLAG!!!!
• A complicated topic on this matter is how the price for your items is calculated. I admit it’s confusing for the average person. The price is based off the daily market price of 24K gold. From then it is broken down by the purity and weight of your items. There is no set percentage for every buy. Some items can be worth more than their weight because they could be a collectable or a popular name brand that is in demand.
• Does your jewelry have stones in it; meaning, is the something that is not gold? Are they paying you for the stones? Some gemstones do not carry a value and others do. Ask questions and ask what they are paying for them. Be aware if they start deducting from your gold weight because they say that piece of glass. This is another RED FLAGG!! It’s a tricky one to navigate but it’s the salesperson’s job to make you understand what is going on until you feel comfortable.
To Close this blog, At Luxury Conversion Co, we invite you into our safe and secure offices, in a private office we all will sit down and I will, right Infront of your test, weigh and evaluate your items. All information is then uploaded into our software for you to see the pricing structure. At any point there are questions, I will go over them till you are secure and comfortable with the answer! We will then document the transaction and secure payment for you right away. I promise you will leave feeling taken care of by professionals.
Selling gold can feel daunting, but you can avoid low offers and being taken advantage of with a few smart steps.
