Selling Gold

Discussion in 'Finance, Property, Law' started by skintboymike, Jan 2, 2007.

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  1. I bought a few gold chains in Kuwait a couple of years ago, but no longer wear them. As a result I'm toying with the idea of selling them when I come back to UK next week. Can anyone on here point me in the direction of any reputable jewellers or gold merchants in the Camberley/Aldershot/Deepcut area? (I need to generate a few beer tokens for a month long course).

    Cheers in advance,

  2. I only use Ebay for buying, I want to try and get somewhere near what it's actually worth.
  3. Well, why don't you try and sell something on Ebay??
  4. Don't get me wrong, I've sold a few things on Ebay before. It's just that most items end up selling for a ridiculously low price. If I put a sensible reserve on items nobody bids on them. I've had more success using Classified or local ads, but obviously Gold is not the sort of thing I'd advertise in Sixth Sense.
  5. I think your best bet is to take them into a local jeweller or Hatton Garden if you are near London, although it's unlikely you will get back what you paid. They may ask you for proof of purchase - do you have that?
  6. If the gold chains are not hallmarked you will struggle to sell them in the UK. Under the Hallmarking Act, selling something as gold that is not hallmarked is an offence - that's why unmarked gold and silver items are refered to as "Yellow" or "White" metal in auctioneer's catalogues. If they have other nations hallmarks, the potential value will depend very much on the knowledge of the prospective buyer - hallmarks give an indication of purity, so the buyer knows what they are getting.

    You can get items assayed and given suitable marks, but it is costly and a bit of a runaround - if you have got a reliable provanance, (bill of sale and a declaration of purity), ebay may be your best bet.
  7. They've got a 750 Diamond Hallmark, indicative of 18k, and I've still got the original receipts from the Kuwait Gold Market. I bought them quite cheap compared to UK, and a few of my mates made a considerable amount by reselling their items. (from a lot more gold than I have though!)

    I've been stung by fraudsters on Ebay before, thankfully only a small amount of money. (It's also worth noting that I received very little assistance from Ebay afterwards.) As such I'm loathe to carry out this transaction online, I would rather deal with a prospective buyer or dealer in person.

    I've had a look at Hatton Garden online, and emailed them, cheers for the help. Any other recommendations wil be gratefully received.