The Process of Buying and Selling Gold, Silver, and Other Valuables
Buying and selling gold, silver, and other valuables can be a complex process, but it's essential to understand the basics before making a decision.
The process typically starts with researching the value of your item. You can check online marketplaces like eBay or 1stdibs to determine its current price. If you're selling an item that's no longer in demand or has gone out of style, it may be more profitable to sell it for a discount.
Asking the Right Price
Auction houses often charge fees ranging from 10% to 20% of the sale price. Additionally, they may also charge a "buyers premium" that can range from $100 to $500 or more depending on the item.
Buying at an Auction House
Auction houses like Ares International, Christie's, and Sotheby's offer various services for buying and selling gold, silver, and other valuables. These services may include appraisals, evaluations, and expert advice.
Buying at a Local Jewelry Shop
A local jewelry shop like the one in Cherry Creek can also be a viable option for buying and selling gold, silver, and other valuables. They typically have a wider selection of items compared to auction houses and may offer more competitive pricing.