Selling gold isn’t difficult, it’s a very quick and easy process.
Just bring your precious to a gold shop, and after a few minutes you come out with a nice nest egg, usually in cash.
The difficulty is not in selling the metal itself, but in REALLY obtaining the highest valuation possible for your gold.
The purchase prices are not imposed, each gold buyer independently chooses how much to pay for the metal, and it can happen to find very large differences in prices (up to €5-6 per gram) from shop to shop.
The world of gold buyers is a jungle, the cities are full of advertisements in which every shopkeeper says that he is the highest quotation and that he is the best gold buyer.
The reality however is that many of them offer you a much lower figure than you could have gotten if you had informed yourself a little before selling everything hastily.
REMEMBER: Gold can only be sold once. That’s why you have to try to sell it in the best possible way being careful not to make mistakes that could cost you a lot of money.
Not Weighing Gold At Home
Not weighing your metal at home is the first and GREATest mistake a person can make before selling their gold.
It doesn’t matter if you only have a few grams, or if you have an inaccurate scale at home, always weigh the metal before going to a gold shop.
Cheating on weight is the most common way dishonest shopkeepers take advantage of the unwary.
In fact, with gold prices so high, a few stolen grams are enough to get the scammer a tidy sum.
If of 100gr. of gold you are paid only 90gr, without realizing it you have had 10gr stolen, which with the quotations of these days means well over 250€.
Money that, instead of rightfully ending up in your pockets, ended up in those of the cheater.
Weighing gold at home is essential, especially when you want to sell gold to dealers who still use scales with weights, instead of electric ones which are much clearer and easier to read, and more difficult to tamper with.
Go To The First Gold Shop You Come Across.
When you have to make an important purchase, for example, a television, do you go to the first electronics store you find? Not!
First of all, do some research on the internet to compare the various models in search of the right one for you. Once you find the right TV, you look for the store that offers it to you at the best price. Finally, especially if you intend to have it sent to you, do further research on the shop, reading customer reviews, to understand if the shop is serious and reliable.
When you want to sell gold, you should do much the same thing.
Search on the internet, look for the gold shop that offers the best evaluation, make sure that it is reliable and that it keeps the promised prices (see capital mistake n.3), look for some information on the shop’s web, read the reviews on google of the customers.
REMEMBER: Do a quick internet search before selling gold. It’s the fastest way to find gold buyers with the best quotes.
Believing Online Advertisements And Quotes
This mistake is related to the previous one and I can guarantee you that it is one of the most common ones made by people. If you’ve been following this blog for some time, you’ll know very well that misleading gold-buying advertising is a topic I care about a lot.
You cannot understand how many people arrive in my shop every week telling me that before coming to me they had gone to a gold shop that advertised a valuation of over €10/gr higher than mine. Well, €10 per gram is enormous. I understand how a person attracted by that figure immediately goes to that shopkeeper.
There was only one tiny problem: that incredible price was just “bait”, a way to trick people into going to that shop.
This is because people, attracted by the incredible quote written in giant characters, hadn’t read the small print which explains that you can forget that figure.
Stores like the one in the example on the web are full of them. In Rome, say, there are very famous ones who behave like this and who spend thousands of euros on advertising to always be in the top positions of Google searches.
To avoid falling into these pitfalls, all you have to do is inform yourself and think with your head.
