Thinking of selling your scrap gold or valuables online, or through a postal service? Despite recent bad press, this can be a great way to do it, and can result in the highest valuation and payout available anywhere... But only if you do it right. Here’s a step-by-step guide on how to safely and securely sell your gold, wrote by an experienced independent gold reviewer.
Step by step guide:
1. Select and consider.
Collect your valuables together, ensuring you have full permission to sell them. Never sell something without the owner's express permission or you may be acting unlawfully. Finally, Make sure you're happy selling them yourself.
Don’t send any non-gold metals or precious stones as you are unlikely to get any value for them. Never send diamonds as most Gold Buyers will value on Gold content only, and you run the risk of extra charges or losing your items completely. The price of Silver is predicted to rise, so consider keeping any silver parts and holding onto them for future sale.
2. Record and photograph.
Photograph your valuables together-this could help prove ownership should things go wrong. Weigh them and consider having the items valued at a local Jewellers. Keep this information safe.
3. Wrap and secure.
Wrap and secure your items. Use a padded envelope: this will reduce the chance of your items being damaged in transit and losing value. Be sure and use a plastic 'ziplock' style sleeve to secure items and ensure they don't slip out.
4. Compare the Gold Buyers
Use a price comparison website like Compare the Gold Market. Choose a Gold Buyer from the table: Look for the best price BUT bear in mind postage cost, return cost and any time limits as well as speed and final rating. Take time to read any customer reviews, as this will inform you as to previous experiences.
Take extra care filling out whatever paperwork you will be sending. Ensure you have all the address and contact details absolutely correct. Ensure you fill out the "Return" details on any Special Delivery envelopes you may use.
Take the completed, sealed envelope to your nearest Post Office (don't just put it into a Post Box!). Make sure you get a proper receipt and Tracking Code. Remember to make sure the standard insurance covers the value of your items if your items are worth more, either pay for it or request multiple Postal Packs from your Gold Buyer and split your items down.
7. Valuation and haggling.
a) If they Call or Email you: Be aware that 90% of Buyers will be able to better their first offer-this is not necessarily the case for higher offers. Be sure and haggle with them, and explain that you know the market price having been on Compare the Gold Market. If you have had your jewellery valued elsewhere, tell them what it is worth. Don't be afraid to ask for your items back if they don't offer a reasonable price. WARNING! Do not rely on external online calculators, they are often inaccurate.
b) If they just post you a Cheque: Don't cash it! If you do this you have no right to haggle! Give them a call or email and follow the steps in section 7a.
8. Acceptance and Payment.
Accept the offer when you're happy. All Buyers will pay by Cheque, which is best if you're not in a rush. BACS and other automated means will take several days to clear, just as a cheque would (check with your bank). CHAPS, PayPal and other instant methods will be quicker but may incur charges (always ask the salesperson). Check your Bank account and watch for the funds arriving.
9. Writing a review.
Give something back and help others on their way to receiving the best price for their scrap jewellery and unwanted gold. If you had a positive experience tell someone, and help warn others if you had a bad experience.