Last Updated on May 20, 2021 by MoneyVisual
Over the past decades, gold is regarded as an excellent way to fight economic uncertainty and rising inflation. Consequently, most gold owners also sell their gold to investors to protect themselves from financial currency or political crises.
Just like other commodities, the gold price per ounce is subject to speculation, most notably with future contracts and derivatives being used. The good news is the demand for gold is strong, giving better opportunities for people who want to sell their gold jewelry.
How Do Buyers Value Gold?
The price of gold is ruled by the law of supply and demand, aside from speculation. Most of the mined gold in the world today are accessible in such forms as jewelry and bullion. These forms of gold have enormous potential in today’s resale market.
Within the past years, the number of pre-owned jewelry that re-entered the market turned the same market into a multi-billion dollar business. Most companies involved in selling and reselling gold and its forms offer higher market value prices to sellers of gold jewelry.
Can You Sell Gold Online?
The short and straightforward answer to this question is yes. There are many reputable and long-standing gold sellers online with decades of experience in selling gold in such forms as coins, necklaces, engagement rings, and so on.
Before these online buyers buy your gold or give you the gold price per ounce, they will need to evaluate your item first to determine its level of purity and value. After this, these sellers will offer you the chance to sell your gold to a vast network of online and offline gold buyers, making sure that you get the best market value for it.
What Processes are Involved in Selling Gold Online?
To sell your gold with these online sellers, you might need to submit an item description for your gold like a request for an offer form that can be found on these gold buyer’s website. Take your time and give a detailed description of your item. Also, attach clear photos to provide the appraiser and buyer a better idea of your item’s initial market estimate.
Once you complete these processes, your online buyer will start drawing interested buyers. After your request gets processed, these online buyers will send you an assessment of the price, along with a shipping label you can use to ship your items. Know that at this point, you are not in a contractual obligation to deliver your goods or agree to any terms set by the buyer.
You can say no to the buyer’s offer. However, if you choose to say yes, then most of these buyers cover the shipping cost for shipping your gold item to their office or location. They will also be responsible for insuring your package while in transit.
The moment your items arrive at the buyer’s office, it will then be assessed by a certified gold appraiser. After that, the buyer will auction your item, and as soon as it’s sold, the buyer will send you the money within 24 hours after the end of the auction.
How Do You Know the Prevailing Gold Price in the Market?
It’s also important to know the prevailing market price for gold to get the best price for it. Check the current price of gold per ounce through the Gold Eagle gold price calculator online. Aside from the current rate, you can also see the buying and selling trends and other relevant information there. Good luck and make some money out of your gold today!