Collecting broken jewelry can be a profitable career move if you know how to manage this hobby correctly. When you collect gold and other broken jewelry pieces, you collect an asset that can grow in value — precious metals vary in price due to constant supply and demand changes — as well as obtaining several bonus jewelry items, such as loose gem stones and pearls.
Still, your collection doesn't hold much value to you if you don't eventually liquidate your collection into cash. To get the most out of your collection, you have to locate the right gold buyer. A gold buyer is a person who enjoys buying large quantities of gold and other precious metals, either for reselling the items later or for their own personal investing. Here is a guide to help you find a quality gold buyer for your broken jewelry by knowing what audience to seek out.
Gold Investors
A gold investor is a person who is looking for gold as a precious metal, not for the jewelry. A gold investor will often be a gold jewelry buyer as well because they melt the precious metals down into bars. You can find these investors online in community forums related to scrap gold and silver buyers, in your local classifieds, or even at your local pawn shop. A gold buyer will be more interested in the quality and weight of the gold content contained in your broken jewelry rather than the jewelry itself, so pay attention to current price trends in gold before seeking a buyer so you make the most money on your sale.
Jewelry Investors
If you have broken jewelry that is antique, vintage, or from popular jewelry brands, then you may want to consider jewelry investors for part of your gold collection. A gold jewelry buyer in this instance will not just be attracted to your gold for its market value, but for the rare value of the jewelry itself, or for the value of the gemstones involved. Separate your broken jewelry that has minor flaws, ample jewels, or a maker's mark on them from the other scrap gold jewelry so you can make a profit from the gems easily with the right investor.
A gold buyer will give you an offer for your gold, and the more gold you have for sale, the larger your offer may be. Feel free to counter an offer, but be open to negotiations as well. This way, both parties can walk away from this transaction feeling satisfied.
