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Selling Jewellery Tips: What is Spot Value?

Used gold and euro bills

Selling old jewellery is a great way to make some extra money — but how can you get the best deal?

When selling jewellery, you want to make sure you get the true value that your necklaces, bracelets and the like hold. With numerous websites and shops offering to buy old gold and jewellery, it’s difficult to know where to start.

As well as deciding where to sell it, you want to know if you are selling it at the right time, with the value of the likes of gold constantly fluctuating. Will the value increase in a few months? Should you wait?

With that in mind, the Post My Gold team have put together some top tips for deciding where to sell old jewellery and how to find the best time to sell.

What is Spot Value?

When we talk about buying or selling something, there is a term called spot value, or spot price. This is the value of your gold at the present time. The future price may be more or less than the spot price; financial experts are always trying to determine if the price of something will increase or decrease over time.

Gold is a universal currency, as it is valuable all over the world. You are able to check the spot price of gold on a daily basis and look at the various fluctuations in the market.

When Should I Sell My Jewellery?

If you’re selling gold and jewellery, it’s important to have a look at the spot price to see what the current rate is. However, while the predictions may show an increase in gold or jewellery, this is not a guarantee.

If you ever need extra money, whether it’s for a holiday or to help you until the next pay day, selling old jewellery is an excellent way to make some extra cash. If you spend hours looking at the price of gold and the fluctuations, though, you may never end up selling it. Be smart and check the spot value, but don’t keep it forever in hope of a higher price.

Where Should I Sell My Jewellery?

Selling jewellery from home is becoming more and more popular, as you don’t need to visit lots of jewellers and get quoted different prices. Look at the spot price and send off your valuables to a reputable cash for gold company. Selling jewellery online is both fast and efficient, as the money will be paid via bank transfer.
Choosing Post My Gold to sell your jewellery means you’ll be sent a free package to return your goods to us, fully insured. We value your items and will transfer the money to your account within 24 hours. If you decide not to take the offer, we’ll return your valubles at no extra cost.

Final Tips for Selling Jewellery

  1. Take a thorough look around: It makes sense to send all of your jewellery together and find out how much it’s all worth. When gathering your old gold and jewellery, check every nook and cranny in every drawer.
  2. Give your valuables a clean: Giving jewellery a quick (but careful!) clean with warm water and soap can give them that extra shine.
  3. Don’t make a quick decision: Although it can be tempting, don’t opt for the first website you find online and send them your valuables. Do some research and look for aspects such as free postage and free returns.
  4. Check the website for testimonials: All reputable websites should have quotes from people who have previously used the service. They should have a registered address and contact details, too. Calling and talking to somebody on the other end of the phone is a great way to feel confident about who you are sending your valuables to.

Post My Gold is a trusted cash for gold company that can offer a price match guarantee. If your jewellery is offered for a better price somewhere else, we’ll match it! To receive your free gold pack, call the team on 01753 693850 or get started here.

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