Guidelines to Sell Gold in Brisbane for Optimal Prices

Gold is a very popular investment option simply because it has great value both as a tangible asset as well as a liquid asset. Again with the ever soaring prices of gold, we can’t resist but sell these gold assets we own and are highly unlikely to use them anytime in the future. Hence we prefer to turn it into cash and invest it into more useful components that could provide some sort of gain. But to sell gold in Brisbane can be quite cumbersome and tricky if you are a novice gold dealer. It’s highly likely that you will be swindled out of your gold if you choose not to be careful. To sell requires certain expertise and skill which have been listed below:-

  • You should never sell your gold to any pawn shops or through middlemen. These brokers are mostly on the lookout to get the maximum cut for themselves and most of the time; it is guaranteed that you will not get a fair deal.
  • If your gold is in the form of jewellery, any reputed shop would give you a better price if it is intact. Broken jewellery, more often than not fetches a lower price.
  • The price that you will get paid on your gold will depend on three factors:-
    • Purity- Pure gold is soft; hence it is mixed with alloys and other metals before being sold. The proportion of mixing varies. The price that you will get for your gold will depend on how pure your gold is which is measured in karats. The higher the karat, the purer the gold is. This can be determined to great accuracy through the variety of testing methods that is available such as aid/scratch test, X-ray fluorescence scan or electronic testers.
    • The weight of the gold, measured in terms of grams or penny weights.
    • The current gold price fluctuates continually due to the market conditions and other factors such as festive and wedding seasons etc.
  • It’s best to get the purity and weight of your gold measured by three or four authentic centers so that you have the exact evaluation with you. Likewise, once interested in selling, it’s a smart move to keep track of daily gold prices so that you can sell on the day that offers the highest gold price.
  • You should not be hasty in selling. Whether selling online or to any reputed dealer, it is best to get the price quotation from two or three dealers to ascertain which dealer is giving you the best deal and then make your decision.

With these pointers, you can be sure to sell gold in Brisbane at an optimal value.

Author: Richard Casteel

268 stories / Browse all stories
Richard is the chief author of this blog. He worked as a financial advisor in money market form last 10 yrs. His financial sense in Share trading and any other trading is just outstanding. He just shares his knowledge and experience through this blog. You can contact him directly though

Related Stories »