Generally speaking, precious metals are always a good investment, for short or long term. No matter how the market changes, gold, silver or platinum items will always be high in demand, because these metals are not used only in the jewelry industry, but also in many others, not to mention the collectors value of some rare pieces.
When the time is right, and you are ready to sell some of these items, that’s when the real challenge begins. So many dealers, online and offline, claim to offer you great deals for your precious metal, but when it comes to the verification process, you find out that your items are not actually worth so much and you get less money than expected. Therefore, before selling gold, silver, platinum, jewelry or watches, make sure you’re prepared with the facts to avoid getting scammed.
Sometimes, dealers and even antique galleries avoid to disclosure the collectible value for some pieces, such as coins, jewelry or watches. It can happen that you get paid only the gold’s worth for a piece of jewelry, without knowing that it’s actually a rare piece, created by a famous jeweler or that not many pieces of its kind are in such good condition.
Do some research on your own, try collecting information from your family, if it’s an inherited piece or try to find out more from the previous owner. Even a silver item can go up to thousands of dollar in some cases, due to its rarity, but you’ll get only hundreds of dollars if you sell it only for the price of silver.
Don’t give in on pressure. Dishonest buyers will often tell you stories about why it’s important to sell a piece right away, making up excuses about prices that are about to fall on the market or any other reasons you should sell immediately. When someone pressures you like that, it’s most likely a sign you should slow down and get a second opinion.
Find an honest and reputable buyer. Check for credentials or for recommendations. Selling precious metals is a business deal, just like any other transaction, so it’s important to know who you’re making business with.
Pay attention to the scale used by the buyer. It’s easy to rig a scale, so make sure the scale used is certified and have them use a standardized weight if you’re in doubt.
Don’t let your items out of sight. Sadly, many dishonest dealers use the buying pretext to replace valuable items with fakes. Don’t go in any “private rooms”, with poor lightning and don’t let de dealer go with your items in another room claiming to verify them. If the verification process is made correctly, there should be no reason why you can’t observe what’s happening. Furthermore, serious buyers will often guide throughout the process and tell you exactly what they’re looking for when analyzing your items.
These are just some of the most common scamming tactics used by frauds who are pretending to be honest buyers, so it’s always better to be cautious when you’re selling precious metals.
Best NYC Buyers is a well-established business, with a professional staff and years of experience that speak for us. Your merchandise will always be tested right in front of your eyes, using scales certified by the state. All your questions will be answered by our friendly and courteous staff and you will receive all the information you need to make the best decision. We’re doing business with honesty and integrity and that’s why our reputation is the best.
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