Perhaps you have an old jewelry box filled with years’ worth of broken jewelry. With the price of gold between $2600 and $2700 per ounce in October of 2024, it probably seems like a very good time to sell the jewelry you no longer want or, at least, don’t want so much that you won’t part with it since gold prices are as high as they are.
Naturally, you might think of dropping by one of the many gold buying companies advertising with very big signs in strip malls or on the bus stop posters. Oftentimes, they’re set up with nice looking office desks and décor to appear to be more like a professional finance company or investment company instead of a small transaction gold buyer.
You can probably already tell that I’m very leery about those shops. They just aren’t good for customers. I’m not telling you that the employees there are bad people. The people I’ve met in those shops are very nice. However, their business model is based on dealing with uneducated customers and counting on convenience to get customers to act against their own self-interest.
Let me explain what I mean. If gold is selling for two thousand dollars an ounce, does it make sense to sell if for six or seven hundred dollars (or even less)? The stores operate with those kinds of deep discounts on the price of gold. This isn’t the case with every one of those stores but the majority of them will offer you a very low price compared to the actual value of the gold. This is the business plan, and many of these fly-by-night organizations only remain in the same location for a few months before closing shop and moving on.
If you need to sell your gold and gold jewelry, you should find a reputable buyer who does more than just buy gold to melt it down. Pawn shops will almost always pay you significantly more than a gold buying operation, and jewelers who buy jewelry will pay more than that.
If you need to sell gold, reach out and we’ll help you. Of, if you’re selling gold in San Diego, drop by our La Jolla showroom. You’ll be very glad you did.
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