Having some kind of valuable asset can be a very reassuring feeling that can act as a kind of safety net. Many of us worry about not having enough money or that someday our current supply will run out, and the fear is that we would then find ourselves getting into debt, being forced out of our home and potentially end up having to live in much worse circumstances than we would choose.
Having something that you can potentially sell can act as a get-out-of-jail-free card in that kind of scenario, giving you a quick way to get the cash that can then be used to buy your way out of trouble.
Of course, not everything we own is going to be worth much, and the depressing thing is that if you sold all of your DVDs, books, furniture, and gadgets you probably still wouldn’t have all that much money to show for it. You don’t want to sell your property – that’s the whole point – so what option does that leave you with?
Well, you might be surprised to learn that you could well have a few items of worth around your home. Here we will look at what those might be and how to find out if it is indeed the case.
Having books that are worth a lot of money is quite rare, but if you’ve got some that date back a long way you might just be surprised. Look for popular tomes, and search for first editions and there’s a chance that there might be an audience on eBay willing to pay a healthy sum for them.
More likely to be worth a lot of money are comics. If you have an old comic that’s an early issue of a long-running series, that features the first appearance of a classic character or chronicles a well-received storyline then you might just be in luck and have a good earner on your hands.
Gold is the standard by which we measure all wealth, so if you have some around then you may well be able to sell it on for a good profit.
While few of us have lumps of gold around the house though, many of us have old cutlery, old ornaments, watches and other items that may include gold. Here it’s important to remember that it’s the weight of the gold that gives it its value.
Normally it will just be melted down and recycled so you don’t need to worry about it being old fashioned or ugly – as long as it’s a good weight of golf it will be worth something when you sell it on and the same goes for silver and of course any jewelry that might include diamonds or other precious stones.
Paintings can often be worth more than you think. If you acquired a painting through your family or from a car-boot sale then it’s always worth looking into how much it’s worth and whether the artist is known.
Likewise, even furniture can be worth something if you have old items and they are antiques. Again this might require the eye of an expert, but the good news is that dents and chips won’t necessarily diminish the value.
5 Things to Consider When Selling Your Old Jewelry
The price of gold is high, and it only makes sense to be tempted to sell some of your old jewelry. There are, however, a few things to keep in mind before you decide on what to sell and who to sell to.
Make sure you want to sell
You may want or even need the money, but once you sell the jewelry to a gold dealer, it will be melted down for the gold content. There is no chance of ever getting it back, so if it is a family heirloom, you may want to think long and hard before selling it.
Make sure the gold is worth more than the jewelry
If you have any doubt about the worth of the jewelry itself, you can have it appraised. There are necklaces, rings and other pieces of gold jewelry that have a greater value than the gold content. One or more of your jewelry pieces may be in this category. If you’re not sure how to tell, go to search for reliable pawnbrokers online.
A business like this has trained professionals that will be able to give you an idea of what the value is, and even potentially buy from you!
Because the price of gold has risen to such great heights, it has attracted a lot of new business owners. Some of them may be good but others may not be. It is best to research these places online and make sure to find a dealer that has been in business for several years and is a member of the better business bureau.
Different levels of gold content
Often a person will take their gold jewelry and weigh it to determine how much money they will receive only to be disappointed later. The reason for this is that most jewelry is not pure gold but is blended with other metals, so the jewelry will only be a percentage of pure gold. When a gold dealer buys gold, he or she is paying for the weight of pure gold.
Anything less than this will bring less money. Pure gold is considered to be 24 karats. If you have jewelry less than this, you will need to do basic arithmetic. If you have 14k gold then you will have 14 divided by 24 or 0.5833 gold. This percentage, multiplied by the weight in 14k gold, is what will be paid for by a dealer.
Don’t sell if the price is too low
Because many people are confused about how much gold content their jewelry has, it is common to get a quote that is lower than expected. Do not feel pressured into selling your jewelry. Although the price of gold may go higher or lower in the future, there will always be an opportunity to sell.
Choose the business you sell to carefully
Whether you decide to sell your gold jewelry is up to you, but remember to go slowly and take the necessary steps to know what your jewelry is worth and who you are selling it to.
3 Secrets to Negotiating with Pawn Shops
Unless you are a frequent visitor to pawn shops, they can be a little intimidating. Pawn dealers are experts at what they do, and it is in their best interest to negotiate prices that benefit them more than they benefit the customer.
While that does not mean that you are going to be treated unfairly, it does mean that you might walk away with a smaller sum than you deserve. The amount of money you can earn for pawning or selling your item depends largely on how you negotiate.
Whether you need some emergency cash or just a little bit of spending money, the three expert negotiation secrets below can help you get the most out of any pawn shop deal.
1. Do not share how much you paid for your item or where you found it.
If you say that you found your piece for a low price or for free, some pawnshop dealers will undervalue it because they know you are more likely to accept a low offer. While your profit margin on a cheap item will probably be great at any price point, why should you walk away with less money than you can get?
2. Research your item’s current market value.
You need to know how much money your item is worth to get a fair deal, especially if you are bringing in an expensive piece. You can easily find prices for comparable items on the Internet. To get an idea of prices for antiques, try searching online classifieds and auction websites. In addition to doing your own homework, speak to an expert in your area to get a professional opinion.
For example, bring your piece to your neighborhood music supply store before you look for Columbus Ohio pawn shops with a musical instrument. Jewelry, musical instruments, antiques, and popular memorabilia are just a few examples of potentially valuable items that should be checked by an independent expert before they are brought to a pawn shop.
3. Wait for the pawn dealer to make the first offer.
If you lead the negotiations, you can unintentionally agree to take less money than what the pawn dealer was planning to offer you. After you get the first offer, argue for a higher price. You should never take the first or second offer because chances are that you can do better. The idea is to barter until you and the pawn dealer agree on a number that seems fair to both sides.