Selling gold seems straightforward but making one mistake in the process can cost thousands of rupees. The reality is, many gold sellers feel a sense of apprehension and hesitation when the time actually arrives to part with their prized ornaments or coins. However, being prepared can help unlock the full value of gold while sidestepping common seller pitfalls.
The first vital step is to identify the purity of gold. In India, gold is typically marked as 24K, 22K, 18K, or 14K with 24K being the purest. The rate a seller receives will directly depend on this purity, so always insist on a professional karat test if you have any uncertainty. Next, always check the latest gold rates on the day of sale. Since global markets shift prices every day, selling gold without confirming current rates is a costly oversight. Handy tip: sellers should be aware that buyers rarely pay the exact market rate, as they deduct fees for testing, melting, and profit margins.
Gold must always be weighed in grams, the universal standard. Some buyers might use alternative units be wary and doublecheck with your own reliable scale if possible. Finally, do not rush: compare offers from multiple buyers, asking for all deductions in writing. Reputable buyers will always explain their calculations and provide clear bills reflecting purity, weight, and gold rates.
All of these steps may seem intimidating at first glance, but being an informed seller is the only way to guarantee a win win transaction. Transparency and research are your best defences against losing money on your precious gold assets.
If you are interested to sell your gold, you may visit https://glitter-india.com/sell-gold/ and apply to sell your gold hassle free. Our representatives will reach out to you.
References:
MMTCPAMP, “7 Things You Should Know Before Selling Gold”
https://www.mmtcpamp.com/blog/blog-detail/things-to-know-before-selling-gold
24Karat, “A Quick Guide to Selling Gold for Cash”
https://www.24karat.co.in/a-quick-guide-to-selling-gold-for-cash.php