Deal only with a licensed secondhand dealer. Check for a license on premises. Businesses buying and selling gold in New York must display a secondhand dealer license and possibly a pawnbroker’s license.
Get an accurate appraisal. The offers you will receive from jewelry buyers will vary greatly. Some may simply weigh and pay, while others provide expertise and the true value. Start by dealing with a BBB accredited jewelry buyer and get a few offers – it will help you to know whether the buyers are being truthful
Expect for your items to be weighed separately on a scale in front of you and, that they give you a written receipt. – if not, walk away!
New York Gold Buyers are required that the scale they are using have a DCA seal. The seal should be of the current year. This protects you from any compromised scale scams.
Know what you are selling – The price of gold and silver fluctuates daily and this is used to calculate the “melt value” of your jewelry. Inspect your jewelry. A professional buyer will inspect every items for diamonds, gemstones and designer brands for added value – do the same prior to selling.
ID required! Every jewelry buyers is required by law to identify the seller and maintain a copy. Avoid a buyer who does not ask for id.
The gold buyer must hold your items for 15 days before selling it. They are not however required to return your items to you.
Avoid “cash for gold” parties and hotel buyers. Selling your gold at someone home or hotel means you’re dealing with a company that you may not be able to hold accountable if something went wrong. Go to a licensed dealer and make sure they are providing you with the information you need to get the best price.