Getting rid of your old and unwanted stuff is a great idea. Selling your old, broken, unused gold is excellent. There are two main reasons why this is the case. First of all, you would be decluttering your space and making room for new item. Secondly, you can get paid good money when you sell gold jewellery which might comedy in handy.

Selling used jewellery is different to selling any other second-hand items. There are different ways to do so and specific rules that you need to know. Before you go deeper into the process of selling you should acquaint yourself with the Australian Consumer Law. The law prohibits the dissemination of deceptive information when trading. This might sound like something only buyers or the people behind the counter might need to keep in mind, but you also need to be aware of the laws that protect and ensure fair trade. Gold buyers in Australia also have to subscribe to their respective State Territory Trading laws. They are required to have an Australian Second Hand Dealer’s permit.

The do’s

• Know your gold

You can sell gold jewellery in any condition. Gold that has been used, is old or damaged is regarded as scrap gold. Your grandmother’s old necklace is as significant as the gold tooth you may want to sell. The thing that matters most to a gold buyer is the gold content and not the item itself or the condition it is in.

• Research dealers in your area

Take some time to get information on gold buyers in your area. Find out what it is they buy, how long they have been in business and what their reputation is. Find out if you can do the transaction online and if so, how safe your gold items will be taking into consideration the fact that you will have to send them by post or courier; and how quickly the company will pay out. It is also important to find out about the kind of customer service a company offers.

What not to do

• Do not sell your gold to any old gold buyer that shows interest in it. Shop your gold around a bit to get the highest offer possible.
• Do not sell you jewellery without checking carat it is or weighing it to get a rough sense of what it could be worth. You wouldn’t be able to tell that you are being lowballed unless you have a rough estimate of what your gold is worth.
• Do not sell vintage gold jewellery to scrap gold buyers. They are only interested in the gold content and not in the diamonds, gemstones or any design.
• Do not sell pieces you have an emotional attachment to. Sell only if you really need to because once the sale goes through you will have no claim on the pieces and the buyer can do anything he or she wants to do with your jewellery.

The Bottom line is that information is important and you should learn as much as you can before you sell your precious gold jewellery.