It may not be a bad idea to dispose off some your old gold jewelry as it may assist you move out of a bad financial run. It is however essential that you don’t sell keepsakes or gold jewellery of great value without understanding what they might have been worth had you left them intact instead of having them melted down. Weighing them may help you in assessing their worth.
When not sure about how to go about it, it is recommended that you visit the Jewellers Association of Australia Limited website which provides general guidance to the public on jewellery selling, buying and insurance buy gold in abu dhabi . Within the Australian jewellery industry, the Association of Australia Limited promotes business standards and ethics of the highest level.
With a huge number of industries of both the small and large scale, Durgapur has practically been a hub of many things. This industrial belt has a population of almost 522,517 people, more than 50% of which is females. Nonetheless, the market of Durgapur for any product is quite bigger.
Since the last decade, a range of new industries is flourishing in the city which has reduced the unemployment level to a great extent. This has become a boon to the people. As the marketplace of any city is totally depended on the employment ratio, it is good news for the shop owners too.
Like the other businesses, the jewellery business has been benefited by this too. A few decades ago, the gold, silver and diamond jewellery had been something unaffordable for the majority of people. It was thought that gold could be worn only by the wealthy and affluent people. But today, these precious metals and stones have come within the reach of people of all races. The jewellery showrooms in Durgapur are thus now affording a lucrative increase in the profit and most of them have expanded their business in the adjacent areas of Durgapur too.
A recent survey reveals that most of the jewellery shop owners now considering Durgapur as a lucrative market for their products for few factors. The factors are given below-
First of all, it is important to know that you are only going to receive a fraction of the total scrap value and not the complete market value, for the gold jewellery. The buyers will first have the gold melted down; therefore they are not going to pay you anything for the style or artisanship of your jewelry. Secondly, the dealer has to pay a smelter, one who does the gold melting. Then there is the profit for the buyer himself. In addition, keep in mind that some items of gold are purer hence more valuable compared to others.
The other possible sell gold jewellery option comes from firms and companies advertising on TV, online, or even on billboards along the highways. However, be advised that you are likely to get a raw deal, sometimes less than 30% of the gold market value.
It is extremely important that when selling your gold jewellery you obtain a good and above board deal. One such area is the weighing machines used by the buyers. Some digital and electrical scales used by buyers are legitimate although many are not. When in doubt, check the reputation of the buyer with the relevant government licensing bodies.
For example, in the UK, the Weights and Measures Act 1985 controls the way weighing and measuring apparatus are used. All equipment has to be tested and duly stamped by an inspector of weights and measures for accuracy before they are used.
This content was originally published here.
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