Oct 13, 2013 9:00 pm
Regardless of whether or not you own a large collection of jewelry, everyone is equally vulnerable to getting ripped off at some point. One of the biggest scams are counterfeit silver items that are circulating through the marketplace. These items appear to be silver and to the naked eye. Having a trained eye wont help because the steel jewelry is often coated in a thin layer of silver plating.
One of the most elementary ways to avoid getting ripped off as a gold buyer is diversification. By dealing with multiple persons and businesses you'll spread your risk. While this sounds like common send it's imperative to discuss as many first-timers often fall for various "up-sell" sales strategies. As with anything in life; it's crucial that you follow the basic rules; regardless of your skills or experience.
While you may be strolling in the lower east side and see a tempting deal, it's critical that you deal with reputable dealers. If something seems too good to be true it probably is. It's important to treat it as a business. You should only deal with reputable professionals who will give you the compensation you deserve. The notion that Gold Selling is for cash-strapped individuals is a tired cliche. While it's true that a large percentage of gold selling consumers are upfront about their need to pay emergency expenses, just as many people are looking to profit from the gold jewelry business. This new trend is mainly an effect of the recently ramped up industry TV, radio, and online advertising. Shows such as "Storage Wars" makes these businesses seem especially elusive.
A lot of jewelry has depreciated in value due to its design. For example, a dated 70's chain may fetch less money on today's marketplace than what it originally retailed for. In contrast, pure gold bars from the same era may have gained a lot of value. Buying and selling jewelry is a good strategy to avoid depreciation of jewelry due to aesthetic reasons.