Selling gold has to be done appropriately to ensure that you are selling at the right place in exchange for the right cash value. While the amounts may not be large but just a small amount of dollars, taking precautions to go through the right channels when parting with your gold is crucial.

Here are some tips that can help you filter out the best place to sell gold, and ensure that you have done the right research when taking such important decisions:

• Consider alternatives before deciding to sell a valuable piece of gold jewelry, because once you have sold it the possibility of getting it back would be close to impossible. The best prices of jewelry that can be sold would be broken or outdated items that cannot be fixed. Thinking your decision through will definitely be the best starter to decide whether you want to sell your gold jewelry.
• When you have decided to sell, check out the cost of the jewelry and its buying price in the market and then get a quote from a few buyers. Getting an appraisal from an antique or design jeweler can help you evaluate the appropriate price to sell your gold jewelry for since market buyers buy based on weight and wastage charges.
• Understand the karat composition because no gold jewelry is made of just pure gold. The most common ones available widely in the market are the 10-karat, 14-karat, and 18-karat gold jewelry that comprised a certain percentage mix of gold and other alloys. The buying price of gold jewelry depends only on the gold composition.
• Keep track of the daily gold price to ensure you get the best deal on your gold jewelry. Since the price varies minimally in general, knowing the price will help you seal a sale deal at a reasonable market rate and not sell it below the margin.
• Always go to a reputable buyer who has a license and is in the business for some time. Check the listing of these buyers against the Jewelers of America association’s rating to ensure that the buyer is in the legal business.