Do you want to sell gold jewellery? A quick search on google will give you hundreds of websites for people who want to give you cash for your gold. How legitimate are these site? Should you be selling your jewellery online?
Selling jewellery online can have good or bad outcomes.
If you sell to a reputable buyer with a good track record and great reviews then you will succeed in selling your valuable jewellery for what it is truly worth on the other hand if you do not take time to do your research and verify your source then you may get low-balled and end up either getting less than what you should get or worse losing your jewellery in the “mail.”
With that in mind let’s discuss how you should go about selling jewellery online
Be careful when using online marketplaces
EBay is the most popular online platform for selling virtually anything. It’s a great place for get some money selling items you don’t need but it can be dangerous especially when it comes to jewellery. If you do not know what you are doing or have never used eBay before then you should not try using it with valuable stuff. Although the site tries to dissuade scammers, they are everywhere and they are experienced at swindling people out of their valuables.
eBay is basically an auction site. If you are selling through a timed bit, you may get less than what you were hoping for at the end, Ebay also charges high premiums and comissions.
If the jewellery gets lost “in the mail”, you will lose your money.
The buyer may alter the item (remove a gemstone and replace it with a fake) and then send it back saying it wasn’t what they expected.
Basically, selling on an online platform like eBay is time consuming and you open yourself up to being defrauded by unscrupulous buyers. To add to that you have to pay a service fee and there is also transaction fees that apply to PayPal services.
There are good online sites you can sell gold jewellery to, you just need to do your research. There are certain things you should look out for.
Experience & location
How long has the business been running? If it has been running for long you can safely assume that they know what they are doing. Find out where the business is located. Who are the owners? Does the company only exist online or do they have a brick and mortar shop? What kind of history does the company have?
How does the company treat its customers? The best way to find that out is to go through customer reviews. Do not just look at the reviews they have posted on the site but check Google Reviews and also check social media pages.
Understand the process
Once you have collected the information about the company and verified how legit the business is, find out how the buying process works.
How do they evaluate the jewellery? That would involve shipping the items to the company. Who pays for this? Will shipping be insured? What happens if you don’t accept what they are offering? How long will the whole process take? What happens if your items get damaged?
Find out how their payment options. Will they mail a check to you, use PayPal, or do an electronic transfer? How long do they take to pay out? Avoid companies that are vague about their payment processes.
When selling g your jewellery online you should never pay for expenses. Avoid companies that add service fees or expect you to pay shipping costs.