Leveraging Your Gold Assets In Uncertain Times: How Vasco Can Help
Uncertainty can strike anytime. It could be brought on by global events or personal issues. The first thing to suffer is our finances. To tide over such financial uncertainties, it is prudent to look at what assets you own and how to leverage them. For example, you can sell gold jewelry to get an instant cash flow.
Uncertainty is Certain, Have a Plan Ready to Tackle It
Recent global events (read, the pandemic and the conflict in Europe) have had a profound impact on the world economy, the full impact of which is yet to be felt. In such circumstances, the effects are also felt by the common people, like us. For instance, millions of people lost their loved ones, their jobs, and their businesses owing to the pandemic.
While we are still struggling to get our lives on track, the Ukraine-Russia conflict has put another question mark on the economy and many markets are already seeing a rise in prices of hundreds of commodities which is making the rebuilding process difficult. Inflation in the U.S. reached 8.5, the highest in four decades.
If all of this troubles you, you are not alone. However, careful consideration of how you can tide over unpleasant circumstances can help you plan strategically to face uncertainties with confidence.
Sell Gold Jewelry: How Your Gold Can Help Stave Off Financial Uncertainty
Most of us possess gold as jewelry, gold coins, or gold bullion. There might be certain pieces of jewelry that have been passed down generations as an inheritance. Or you might have bought coins and bullion as a means of investment. In such cases, when things go south, it is the right time to leverage this gold.
Gold is an extremely liquid asset. You can actually decide to sell it and have money in your hands quickly. It is thus perfect to get the required cash flow when it is urgently needed.
Tips to Sell Gold Jewelry for Cash
Now that you have identified the gold jewelry that you wish to sell, here are some tips you can follow so that you get the best deal on your asset.
Ensure that it is Real Gold
All that glitters is not gold. At the expense of sounding cliche, we must advise you to first ensure that what you intend to sell is the real deal. Gold jewelry is almost never pure gold. It is an alloy where gold is mixed with other metals that impart strength and longevity to the jewelry piece.
Purity of gold is determined in “karats.” So while 24 karats, or 24K, is pure (99.9%) gold, gold jewelry in the U.S. is typically 10K, 12K, 14K, 18K, or 22K. This is usually marked on the jewelry – inside of the ring or clasp of a necklace. The higher the karat marking, the more value your gold jewelry has. Each karat represents an approximate amount of gold content in the piece – 58.5% gold in 14K jewelry and 75% gold in 18K gold jewelry, for example. This is true unless there is a “P” afterwards denoting the word plumb, or exact. For Example a jewelry item marked “14KP” would be exactly 58.5%pure while something marked “14K” is approximately 58.5% pure, although generally it is below 58.5%.
If you see markings like GF, GO, GP, RGP on your pieces of gold, you have jewelry that is made of a base metal (usually copper) and is overlayed or plated with gold. This has very little value at all.
Know the Current Gold Price
Online sites like Kitco give you an indication of what the current price of gold is. While you cannot expect to get those prices for your gold jewelry, it will give you a rough idea of what you can expect from your gold buyer assuming that all the gold is stamped correctly and is exactly the karat stated.
Shop Around and Compare
You are not obliged to sell your gold items to the first buyer you visit. Tell the buyer you are shopping around. When you don’t sound desperate, you are likely to get a better deal.
Check the Jewelry Buyer’s Reputation
A sophisticated office and a sweet-talking receptionist aren’t necessarily a guarantee of the buyer’s reputation. Check out whether the buyer you intend to sell to, especially if it’s online gold buyers, is genuine. You can look up the internet to see reviews, like on Yelp or Google My Business Profiles, and first-person experiences so that you protect yourself from scams.
Get an Appraisal from an Expert
Many times, we are holding an asset that has more value than the material it is made up of. For example, if you have gold jewelry that once belonged to a member of a royal family, or is a piece of estate jewelry with a rare design, its price will be much more than the gold and precious stones it is made up of. In such cases, it is important to know the history of the item.
Expert valuers are people who have extensive experience in luxury assets like gold jewelry. They are able to determine the actual worth of the item over and above the amount of gold that has gone into the making of the item. When they value jewelry, they will present an appraisal report that gives you the true worth and value of your gold jewelry.
Where Can You Sell Gold Jewelry?
There are a number of different places you can sell your jewelry – pawn shops, local cash-for-gold businesses, coin dealers, local jewelers, antique stores, and consignment jewelry stores (online and offline).
Neighborhood pawn shops are the most common places one may visit to sell stuff. While there is no harm in visiting a pawn shop, understand that it may not have expert valuers. You may be offered a price that may be way lower than what your gold item is worth and discounting the value of any precious or semi-precious stones you may have.
Consignment jewelry stores help you sell your gold jewelry by listing them for sale in their store. These jewelers use their storefront and marketing to attract customers, one of whom may be interested in your item. Once the sale is complete, you get paid. However, when you will get paid is almost always uncertain because you cannot predict when your item will be sold. It can take several months for your jewelry to be sold, or even more. Also, you do not get the entire amount the item was sold for as the consignment store will pocket its commission and you get a percentage of the list price, which is typically around 65-75%.
So what’s a better option to sell gold jewelry? An outright luxury asset buyer who can give you the best price for your fine jewelry.
Vasco Assets: Your Trusted Partner in Uncertain Times
Vasco Assets is a multinational luxury conglomerate that deals with buying, selling, and financing with luxury assets, including gold jewelry.
Vasco Assets have an in-house team, as well as access to a global network of expert valuers who will evaluate your gold jewelry and provide you a detailed appraisal report completely free of charge. So even though you decide not to sell your gold jewelry to them, you still get valuable information about your gold jewelry.
Vasco Assets have access to a network of accredited and institutional buyers. This means that you get an outright buyer who can offer you top dollar for your gold jewelry within a very short period of time. All you have to do is get in touch with one of our Luxury Asset Buyers. From there, you’ll bring your item to our office or have it shipped via our Sure Secure system. One of our experts will evaluate your gold jewelry and create a detailed appraisal report, along with our offer, which is usually the best in town. If you’re happy with our proposed offer, you can walk away with money in hand the same day. The process is this simple.
Apart from being outright buyers of luxury assets that include, apart from gold jewelry, art, diamonds, precious stones, precious metals, yachts, luxury vehicles, sculptures and more. We also provide short term financing with luxury assets as security collateral. We have helped thousands of everyday people realize their dreams of getting the required cash flow to save their businesses, or to expand and diversify them, to plan a much needed vacation, to get their homes renovated, pay for their children’s education and so much more.
Selling luxury assets is a strategic financial decision. And gold can be a great investment vehicle to leverage in times of need. With Vasco Assets, you are assured of world-class service and the best payout in town, not to mention great people to work with.
If you are thinking of selling your gold jewelry, do give us a call at 949.679.2300 or 800.688.2994, or write to us at email@example.com and let us give you a free appraisal. And let us help you to tide over your uncertain financial situation.