Thinking about selling your old gold or unwanted jewelry? Here are a few tips you should know before you do...
Selling to gold buyers who set up in hotel rooms - You've seen them, or at least have seen their ads. They take out full page ads in the local newspapers, as well as advertise on TV. These companies are from out-of-state, usually Florida or California. If you bring your gold to them, you will most certainly be throwing away money. Think about it... who do you think is paying for their transportation, hotel rooms, meals, etc... YOU are! They typically will not give you as much as a local business would for your items, as it cost them money to do business here. Then there are those who will do"gold parties", and provide all the food and beverages for you to invite your family and friends over so they can buy your gold. Well who do you think pays for the food and beverages... YOU do! In essence, you are inviting your family and friends over to lose money.
Mailing your gold is one of the worse ideas yet. Is it a reputable company? What if it gets lost? How long will they hold your gold? More than likely until the market drops a bit, then they pay YOU less money, and hold it until the market goes up. "Cash for Gold" earned 60M (yes, that's MILLION) dollars in 2008, and DOUBLED that figure in 2009. Where did that money come from? They keep the majority of YOUR money. They're not getting rich by sending you back a check for most of what it's worth. Yes, you see the commercials depicting someone with a big fat smile on their face because they just received a check for $700... but in fact they should have received a check for a LOT more than that. These people are paid to smile!
What is "Highest Prices Paid"? - Everyone seems to make that claim. The reality is, no-one has ever asked US what we pay, so how do they know they pay more than we do? They have no idea. All local companies are competitive, and pay roughly the same, based on the price of precious metals the day of the transaction. At Silk City Exchange we may pay more for pieces we feel are worthy of a place in our showcase or for resale, based on what customers have requested. One thing we can say with certainty is we will give you a fair price.
By selling your gold locally you will receive MORE of YOUR money! Do we want your business? We sure do! But if you choose not to do business with us, we hope that you consider selling your jewelry locally.
Selling to gold buyers who set up in hotel rooms - You've seen them, or at least have seen their ads. They take out full page ads in the local newspapers, as well as advertise on TV. These companies are from out-of-state, usually Florida or California. If you bring your gold to them, you will most certainly be throwing away money. Think about it... who do you think is paying for their transportation, hotel rooms, meals, etc... YOU are! They typically will not give you as much as a local business would for your items, as it cost them money to do business here. Then there are those who will do"gold parties", and provide all the food and beverages for you to invite your family and friends over so they can buy your gold. Well who do you think pays for the food and beverages... YOU do! In essence, you are inviting your family and friends over to lose money.
Mailing your gold is one of the worse ideas yet. Is it a reputable company? What if it gets lost? How long will they hold your gold? More than likely until the market drops a bit, then they pay YOU less money, and hold it until the market goes up. "Cash for Gold" earned 60M (yes, that's MILLION) dollars in 2008, and DOUBLED that figure in 2009. Where did that money come from? They keep the majority of YOUR money. They're not getting rich by sending you back a check for most of what it's worth. Yes, you see the commercials depicting someone with a big fat smile on their face because they just received a check for $700... but in fact they should have received a check for a LOT more than that. These people are paid to smile!
What is "Highest Prices Paid"? - Everyone seems to make that claim. The reality is, no-one has ever asked US what we pay, so how do they know they pay more than we do? They have no idea. All local companies are competitive, and pay roughly the same, based on the price of precious metals the day of the transaction. At Silk City Exchange we may pay more for pieces we feel are worthy of a place in our showcase or for resale, based on what customers have requested. One thing we can say with certainty is we will give you a fair price.
By selling your gold locally you will receive MORE of YOUR money! Do we want your business? We sure do! But if you choose not to do business with us, we hope that you consider selling your jewelry locally.