Shopping Tips for Fall

Approach Selling Your Gold as You Would Buying a Car

Unless you have experience with selling gold—which is something that the average person doesn't have—you may feel a little daunted when you decide that you wish to sell gold jewelry or other types of gold that you own. One way to boost your confidence is to use some rules that you likely employ when you're shopping for a car. Even though selling gold and buying a vehicle are drastically different, there are a number of similarities that you can use to your advantage. Here are three such rules to remember as you set out to sell your gold.

Visit Different Locations

One of the best pieces of advice for buying a car is to visit several dealerships before you narrow down your choices. Evaluating the vehicles at just one dealership doesn't give you a broad picture of whether you're getting a good deal or not. A similar scenario holds true when you're looking to sell your gold. Don't just visit one buyer and see what he or she will offer you. If you take the same selection of gold to multiple buyers in your area, you may be surprised to hear that they're all offering slightly different amounts.

Don't Be Afraid to Negotiate

Negotiating isn't something to which many people look forward, but it's a critical part of buying a car. A dealership doesn't expect you to pay the sticker price for a vehicle; rather, you and the salesperson will go back and forth until you reach an agreeable price. Negotiating can also be part of the process of selling gold. If you get the sense that a buyer is really keen on a piece, perhaps because of its age, you should feel confident to ask for more than the buyer originally offers you. Ideally, you'll meet somewhere in the middle and both be happy with the end result.

Take Time to Think

Don't pressure yourself into making a decision about selling a piece of gold without giving it plenty of thought. This is especially important if you've had the gold for a long time or it has been passed down through your family. Once you come to an agreed-upon price, feel free to take a day or two to think about the sale. Any reputable dealer will be fine with you taking this time and then making a decision. In a similar way, buying a car only after you've "slept on it" is an approach that frequently works.