1. Know the difference between gold Karat and diamond Carat. Karat is the purity measurement of gold.
1 Karat represents 1/24 purity of gold. Gold is a soft metal in its purest form, so jewelry manufactures add different metals to gold to make it stronger and last longer. Most Common jewelry falls into one of three groups. The higher the Karat the more gold is in your jewelry
- 10 Karat Gold – made up of 41.7% gold.
- 14 Karat Gold – made up of 58.5% gold.
- 18 Karat Gold – made up of 75% gold.
2. Jewelry markings can be misleading or missing entirely.
Most gold jewelry is marked giving an indication of the gold karat weight used in making it. Below is a standard marking chart. Unfortunately, sometimes by accident (or even on purpose) items are marked as gold with the wrong karat weight. In addition, due to the soft nature of gold, hallmarks can be worn away. We offer proper testing off all your items for their gold content.
3. Stay current with the current price of gold as it fluctuates often.
Gold prices fluctuate regularly. Keeping an eye on current prices will help you in understanding what your gold is worth. A good source for up-to-the-minute gold prices is Kitco which lists current and historical pricing on all precious medals. Knowing the current price will ensure you get the best value for your gold.
4. Consider the intact value of your jewelry.
Different gold jewelry will have different values – not all gold jewelry is scrap gold and it should not be bought at scrap prices. An old heirloom piece might have a significant value above just the gold used in it. Brand name designers, such as Tiffany & Co, Van Cleef & Arpels, Cartier, & Harry Winston can be worth thousands. Bringing your jewelry to an expert who knows this can make a big difference in what you end up selling your jewelry for.
5. Find a reputable and transparent gold buyer.
There are many ‘rogue’ gold buyers, also known as ‘popup buyers’, who underpay their clients. Trusted buyers are licensed and have a transparent way of determining what your jewelry is worth. In Louisiana, a second-hand buyer has to be licensed & bonded to buy from the public. If they are not, you will most likely be underpaid for your gold.
Bryant Jewelry Buyers is licensed and bonded and has years of experience buying from the public. Schedule an appointment and sell your diamonds, jewelry, and engagement rings in our Lafayette, LA location.
