Buy and Sell Gold Opportunists Take Advantage of Uninformed Public

Oct. 17, 2009 - PRLog -- Glendale Pawn & Jewelry long-time manager, Stan Grossman, warns the public to be wary of the growing number of businesses that are emerging in Arizona and online who want to buy your precious gold and jewels.  In today’s tight economy, more people are selling valuable family treasures such as gold and diamonds for quick cash.  Today’s high gold value has increased the number of gold buyers, who may not always be looking out for the best interest of the seller.

With more than 40 years of experience in evaluating and pricing fine jewelry, Mr. Grossman offers seven tips to consumers before they head out to the hotel gold buying events or in-home jewelry for cash parties. 

First, have multiple jewelry experts evaluate your trade value, not just one person. Second, do not be lured by coupons and promotions, as you often are giving up a per ounce value to pay for this reward.  Third, know the price differences in gold. Not only does the value of gold fluctuate daily but there is also a variation in value based on karat.  24K gold is 100% pure gold; whereas 14K is 57.5% gold with a mix of other metals. For this reason, establishing the value of gold coins is easier than establishing the value of jewelry.

The fourth tip is to understand gold and jewelry is a commodity. When you sell them, there will be no sentimental factor included to the value. Fifth, be realistic on the value you expect to receive, as there is usually a three-to-four times mark-up on commercial jewelry when purchased at a retail outlet.  Sixth, the value of diamonds and other jewels is based on quality and clarity as well as the popularity of the cut.  A round brilliant cut is worth the most today and will fetch much more cash than a marquis cut of the same quality. Finally, if you are selling your treasures to a pawnshop confirm it is a member of your state pawn association.  This may enable you to have some recourse in resolving any problems with your transaction.

“There are so many places that people can sell their valuables today, from putting it into a bag and shipping it off in the mail, hotel shows, home parties and even new businesses in Arizona that have popped up overnight,” warns Stan Grossman of Glendale Pawn & Jewelry.  “The public needs to be wary of gimmicks and seek a fine jewelry expert and trusted advisor with a long-standing track record in the business community to fairly evaluate your valuables.” 

There are several opportunities to get fast cash for gold and jewelry today.  The public is best served by knowing what to expect and dealing with an expert to maximize earnings.  Glendale Pawn & Jewelry, established more than 25 years ago, was the first pawnshop in the west valley.  The staff has received numerous community awards for its outstanding business practices and ethics, as well contributing to local charities.  Glendale Pawn & Jewelry is located at 6548 North 59th Avenue in Glendale, Arizona. (623) 939-2107.  www.arizonapawnshops.com