Tips for Selling a Gold Watch

Tips for Selling a Gold Watch

Gold items are usually high in monetary value and may possess sentimental value as well. If you are considering or actively trying to sell a gold watch, we believe it is important to be appropriately informed on where to sell, whom to sell to, and how much to sell for. Whenever selling high valued items, there is always a danger of being taken advantage of. As experienced in-store and mail-in gold buyers, we have decades of experience in gold buying and selling, which we would like to impart to you so that you can get the most out of your unused gold.

How to Find the Price of Your Gold Watch

When selling a watch, it is best to find out the market value. Finding the market price of your timepiece is vital in getting offered the highest amount for your watch. If you are offered a below-market price, for one, you will be able to recognize it, and secondly, you can inform the potential buyer that your watch is currently selling for the market price.

How Are Gold Watches Priced?

There are several factors that will affect the price of your gold watch. Gold items are measured both in weight and in karat weight. Standard denominations of gold are 14 karat, 18 karat, or 24 karat gold. The higher the karat value, the higher the amount of gold, and therefore the more expensive the item will be. It is improbable that your watch contains 24 karat gold, as jewelers rarely use it due to it being too soft.

Another factor that can affect the price is, of course, the watch's condition, though this will depend on whom you are trying to sell your watch to. At GoldFellow, this is not quite as important as price to us, as we buy gold, fine metals, and gems in any condition. This is due to the fact that we mainly base the price on the karat weight of gold since we melt down items. Our mail-in gold for cash is an excellent way for anyone to sell their gold watches and similar items that they aren't using, no matter the condition.

Who Should You Sell Your Gold Watch Too?

Choosing whom you want to sell your gold watch will also have a significant impact on how much money you can receive. Selling a second-hand watch to another individual looking for a watch to wear may result in a less than desirable price as the condition will play a considerable role in how much they are willing to pay. Additionally, they will not offer you the market price, as the market price for your item is most likely based on a new of the same or a similar gold watch.

We strongly suggest avoiding selling your gold to pawnshops, as pawnshops make a profit on buying valuable items at a low price to then sell back at market price.

At GoldFellow, we offer insured mailing and in-store grading for your items. Our grading comes with no commitment, as we will ship back your items at our own cost if you are not satisfied with our price. Contact us today to get cash for your unused gold.

Related Readings:

How to Increase the Resale Value of Your Jewelry

A Guide on How to Sell Your Diamonds

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