Monday, February 21, 2011

The Numbers Game: Advice To Anyone Selling Their Gold

In the Jewelry Business, numbers are the key - but pay attention to the right numbers.

While it is true that there is a lot of competition in the Gold Buying industry, it is also true that there are a lot of dishonest characters in the business as well.  Being in the Jewelry industry for over 35 years as wholesalers, retailers and buyers - Sell Us Your Gold has first hand experience as to the importance of thorough research.

As gold has shot up in value, it has become common for potential sellers to call around to dozens of gold buyers asking "how much do you pay per gram?" or "what percentage do you pay?"  These are excellent questions to ask - and are highly encouraged - however it is vital to ensure that you are dealing with companies with integrity.

We have heard dozens of stories, with customers saying that they were quoted x-amount per gram, only to find out that the Gold Buyer, Pawn Shop or Gold Party were setting their scales to Pennyweights - a completely different unit of measure.

There have been recent exposes in many states where certain gold buyers manipulate or understate the weights on the scales.  For those with integrity issues, it is easy to overstate the rate that they are paying over the phone.  

Here is one simple piece of advice:  See the entire process through.

The average testing time of gold/silver/platinum items is less than 4-5 minutes.  This small amount of time could make the difference between you losing or gaining hundreds of dollars.  Trust us, it is worth the time.  It is recommended to check with multiple places - which will give you a legitimate frame of reference as to what your items are worth.  

Secondly, if it sounds "Too Good To Be True", then it probably is.  If you were to call 4 places, and ask what they are paying per gram - Place A says $15, Place B says $16, Place C says $26, and Place D says $17 - which one of these doesn't belong?  It is likely that the place that says $26 is using a different unit of measure, or is not being honest with their pricing.  

These are just a few tips from long-time insiders of the business.  We would love to do business with you - and would love to see you receive top value for your jewelry items.  Stop by either of our stores for a hassle free, and fast (guaranteed) quote.

Tuesday, February 15, 2011

Gold is Rising Once Again!

We are now starting to see another climb in the gold market this week, after the recent correction in prices.  What does this mean?  This could mean more record price levels for Gold, Silver and Platinum!  

Most analysts say that we will continue to see strong increases in the next few months - so this is an ideal time to think about selling those broken, unwanted or mismatched jewelry items.  If you are wanting to get a ballpark figure to see what your items are worth - and are not ready to sell yet, that is perfectly fine!  Feel free to come by any time to our Gilbert or Scottsdale locations - and we will give you a quick, no hassle assessment of your jewelry or coins' value.
A recent customer came in with a pile of what she thought was sterling silver.  As we carefully sorted through everything, we were able to find that some of her items were 14k white gold.  This obviously had a great impact on the price, and she received much more than her anticipated payout.
These experiences have become commonplace at both Sell Us Your Gold locations.  Another customer came in after a negative selling experience at a competitor store.  She stated that she sold her items, but in retrospect had "seller's remorse" - since she knows she probably could have gotten more.
After meeting with us, she realized that she had found the right fit to sell her jewelry items in the future - and became one of our most frequent customers.  As we have said before, our goal is to build long-term customer relationships, and provide value for our client base.
Come by either location and see for yourself - you won't be sorry!