Many a times you have in your possession certain artifacts and antiques that may seem junk or useless for you, but have certain intrinsic or extrinsic value. Many of these articles are made of precious metals and gemstones, despite the article itself being worthless. Examples of these includes mostly old gold watches, metal statues etc. However, many are unaware that they can sell their old gold watch to a dealer and earn a fair bit of money. So, how and when exactly should you sell gold watches?
Challenges while selling
When it comes to actually selling such items, there are several hurdles a prospective seller faces. One of the first and foremost problems is finding the exact value of the item. People are unaware as to the exact value of their old watches, and many are completely unaware that old gold watches have tiny gold parts inside them! They either end up usually undervaluing their watch or sometimes even overvaluing it. Ignorance is the biggest obstacle faced.
Before finding out when to sell gold watch, you need to find a good dealer. Most of the times, there are just scrap dealers who are interested in the actual usable gold in the watch, and not other aspects of your artifact which could fetch you higher prices. Then there are pawn shops and Internet dealers. In any case, dealers usually give a depreciated value for your gold, making huge profits for themselves. Internet dealers, cash for gold websites may attract your attention by providing convenience and claiming best deals, but there is a nagging risk of your gold being misplaced and undervalued, not to mention the payment never being made.
To sell gold watch, the best place to go is a physical gold store. There are various such gold stores all over the States who deal specifically in appraising and buying scrap gold or gold antiques. Since you deal with the buyer directly, and see for yourself the rates given, they are appropriately nicknamed Gold King. Another reason why physical stores score over other dealers is in transparency of rates.
The proper time to sell
A major factor that is required to be kept in mind trying to sell gold watch is the gold rate. You will get the maximum value for your gold when you sell it at the highest rate for exchange, which changes frequently. Ensure that you keep an eye on the moving average. The moving average indicates the value of gold over a period of time. Gold prices are expected to rise when the short term moving average is above the long term average, and are expected to fall when the long term average is above short term average.
What makes the current situation a perfect time to sell gold watch is that gold prices are on an all time high, with the current price above short term average. Even more, the current market situation dictates that gold prices will continue to rise. This will give you a good deal, and you may even wait for rates to rise higher. Another factor apart from market rates that influences gold rates are market seasons. Gold gets reasonably expensive around wedding season, i.e. late spring and summer season in the United States. Higher demand for gold ensures you get a higher rate you sell your old gold watch.