7 Things To Consider When Choosing A Place To Sell Gold

Gold is an asset that yields great returns on investment. It means you can use your gold to meet financial exigencies by selling it off at a significant price. 

You would want to make the most out of the deal when you sell gold. You should have a clear idea of where to sell gold, how to sell, and other factors to get optimum returns on selling gold.

Check out these seven tips that you must consider for selling gold with maximum returns:

1. Identify the best time for selling

You will not get optimum returns if you plan to sell your gold anytime you want.

As you know, gold prices are fluctuating. You cannot predict when the gold prices will rise or drop. So, you need to figure out the best time when the transaction will yield the best returns.

2. Know where to sell

When you go out intending to sell your gold, you will find lots of buyers.  

Do not be in haste to sell your gold to the first buyer you encounter in the market. 

When you search extensively, you will find variations in the rates each buyer offers you. Some buyers might charge you extra in the form of processing fee and deduct from your payable amount, while others may offer you higher rates for buying your gold.

Hence, you must do thorough market research to find out where to sell gold at best prices, or else you will be at a loss.

3. Do not overlook credentials

Some jeweller in your locality might have an heirloom business of buying and selling gold. They might even claim to buy and sell gold in Bangalore, Delhi and other places to esteemed customers.

But it is never recommended to sell your gold to anybody without cross-checking their credentials. You would never want to get cheated in the deal. They might even supply you a forged bill or provide inaccurate measurements of your gold.

Read online reviews and take quotes from multiple buyers to make proper comparisons of various vendors in the market.

4. Recognise the exact value

Old gold has a different market value than new gold. Similarly, a bar of pure gold will fetch a different market value compared to a piece of jewellery with some form of pure gold. 

Since you are selling your gold and expecting best returns out of it, you have to recognise your asset’s exact value before you finalise any deal.  

If you do not verify and solely depend upon a buyer, then you can get cheated.

5. Identify the scale 

Do not depend upon the gold buyer who claims to examine the purity of your gold and affix its selling price. 

You have the right to know how the buyer measures the purity of gold. You should get precise information if the buyer is using any scientific instrument such as Karat meter for checking the Karat count of your gold. 

6. Check the terms and conditions

No matter how lucrative a deal might appear to you, it is utter foolishness to sell your gold without precisely reading the terms and conditions of the buyer.

Some buyers hide extra charges for the transaction and mention that in the terms and conditions manual. If you do not read about such terms, you will never know that you have to pay extra money from your pocket for selling your gold. 

You might even land into legal consequences for making the transaction without checking specific terms mentioned by the buyer in the terms and conditions manual. 

7. Never shy away from negotiating

As you are doing a business transaction with your gold, you always have the scope for negotiating on the price you are being offered. 

Most gold buyers claim that the government standardises everything and they have no room for negotiations. 

But all of them they have their commissions figured out of the deal. Therefore, hard bargaining is seriously going to work and give you the best returns on your gold. 

Gold is your precious investment, and you should always strive to earn the best value when you want to sell it. It is very easy to fall into the traps of unauthorised gold buyers and dealers. However, if you do thorough market research for authentic gold buyers, find gold rate in kolkata and keep the tips mentioned above in mind, you can maximise your earnings by selling gold.

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