Selling Your Jewelry: Places to Avoid

Person selling their gold and silver jewelry

Selling your jewelry is all about getting the best deal.

To get the most out of your unwanted jewelry, you need to know what the jewelry is worth and where you should and should not sell it. If you’re not careful about where you choose to sell it, you may end up losing a lot of money. Here are a few places to avoid when selling your jewelry:

Online

Yes, that means websites like eBay, Craigslist, and Facebook Marketplace that tend to look for rock-bottom prices. It is easy to get caught up in the promising offers and ease of selling online, but it is very difficult to know if you are getting an accurate or even fair amount for your valuables. Not to mention, placing your gold in the mail to a non-reputable seller is a move you don’t want to make.

Cash for Gold Scams

People rely on places like this for some quick cash, but are often disappointed with the results. Today conducted an experiment to see how accurate gold buying companies are by selling 450 dollars worth of gold to 10 different buyers. The closest offer was $393.36 (sellyourgold.com), however, the offers quickly plummeted. Cash4Gold offered a mere $76.89 for the gold, and hardgoldcash.com offered an insulting $38.25, only 8% of the gold’s real market value. They went on to shop their gold back from these places. The prices were over $300. If you mail in gold and aren’t happy with the check, immediately request your gold be returned.

Pawn Shops

Pawn shops are a common choice for quick cash, but it can be difficult for consumers to get the best values — especially for jewelry. Sometimes you can negotiate with shop owners to get a better deal. Even so, pawn shops are likely to pay just 30%-60% of the item’s estimated value. No matter which type of store you choose, you should get at least three estimates — and more for high-value items.

At Dallas Gold and Silver Exchange, we’re public, trustworthy, and we offer a fast and easy selling process. We pay top dollar for North Texans’ gold, silver, jewelry, rare coins and have hundreds of positive reviews.

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