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How selling price of old gold jewelry is determined?

Date: 02 Jan 2016    Group: Opinion About    Category: Miscellaneous   

Many people sell their old gold jewelry to buy new one. The jewelers determine the price of old jewelry by examining, testing and weighing the same. They decide final value by taking into so many factors which is generally much less than the actual value of the jewelry. How selling price of old gold jewelry is determined i.e. what factors are taken into account?

Want to know how the selling price of old gold ornaments is determined? You can find the expert answers here.

Author: Bhaskar Borah    05 Jan 2016      Member Level: Silver     Points : 2  (Rs 2)    Voting Score: 0

Mainly any gold Jewelry or something made of gold or gold coins value is determined by the factors Purity, Weight and current price of gold.
We get less amount than for what we bought them because of the weight. Jewelry's weight always decreases as it had used. There are also some buyers who generally try to cheat.
So if you want to sell your old ornaments, I suggest you to First check the purity of your gold then know the weight and at the last know the current price of gold. After confirming these three factors go to sell your gold.

Author: Mahesh    06 Jan 2016      Member Level: Gold     Points : 3  (Rs 3)    Voting Score: 0

Gold surface and the ageing is considered while reselling the object. Most of the re sellers check the carat and the current valuation is going to be based on that. Those who are reselling it are going to use it for remolding. In case of remolding the price is based on the current quality. So always the resellers buys the gold at the lower price than the market price. If you go to any jeweller then you can find out how much it takes to remold the gold. The price is quite fluctuating.

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