Selling jewellery

[ViaRia01]

How do I go about selling an old piece of jewellery? It’s a gold bracelet, fairly chunky. I am not sure of Carat (I would find out first though of course).

I am assuming options include a jewellery shop, a pawn broker, a company that come to your door to buy goods etc. Are there any other options that I’m missing and what would you do?

I need to somehow get a good understanding of its value and an accurate measurement of its weight. I just don’t want to be taken for a ride. It’s not overly sentimental (hence the wish to sell) but at the same time I wouldn’t like to think I’d been conned.

A private sale would probably be a better option, after you have had it valued professionally or a reputable auction house with a reserve price.

Bullion by Post will give you a price based on the weight and carat of the gold.

They offered me more than any of the local Jewellers I approached for a chunky gate bracelet. And they paid me two days after they received it from me.

They are buying it simply to melt down so there is no mark up based on aesthetics.

If you look at their site it shows the price they are currently paying for gold and a set of kitchen scales will give you an approximate weight. That will enable you to calculate a rough valuation before approaching other Jewellers or Bullion dealers.

This is not an advert, i have no connection to the business but it was recommended to me and it think they have a lot of word of mouth business. It’s called Hatton Garden Metals (contact used to be a chap called Gary.)
The base their offer prices on the previous day’s London Gold Fix (which is for pure gold so 9, 18 or even 22 ct gold will be lower.)
You send your item(s) by registered post to them and they contact you on receipt of them with an offer which you can accept or reject. If you accept the money is in your account the same day.
I definitely wouldn’t sell to anyone coming to the door.

Take it to an auction house valuation day and get it assessed and valued first. They will be able to advise you on its worth, check the hallmark etc, and you don't have to sell via them if you don't want to.