Most of us have a small stash of gold we never wear: a single earring, a snapped chain, a ring from a relationship that ended years ago. It sits in a drawer because selling it feels awkward, and nobody wants to be the person who got a bad deal. A dedicated buyer like the gold exchange can take the guesswork out of it, but you’ll still get better results if you know what to ask before you walk in.

What Is Your Gold Actually Worth?

Gold is priced by weight and purity, not by how pretty or sentimental a piece is. Purity is measured in karats. 24k is nearly pure, 18k is 75% gold, 9k is about 37.5%. The number is usually stamped somewhere small, like inside a ring band or near a clasp. A good buyer weighs your items in front of you, tests the purity, and then works out the value from the live gold price in New Zealand dollars.

That price moves daily, sometimes hourly. So an offer you hear today might be different next week. If you’re not in a rush, check the spot price yourself before you go. It takes two minutes and gives you a rough benchmark.

Questions to Ask Any Buyer

Don’t be shy here. A reputable buyer expects questions and will answer them plainly. These are the ones worth asking:

• How do you test the purity, and can I watch?

• Is your offer based on the current spot price?

• Do you charge any fees or commissions?

• Will you weigh each item separately or lump them together?

• How and when do I get paid?

Pay attention to how the answers feel, too. If someone gets vague about the weight or rushes you to decide, that’s worth noticing. Whether you pick the gold exchange or another local buyer, you should leave feeling informed rather than pressured.

How to Prepare Before You Go

A little prep goes a long way. Sort your pieces by karat if you can, and leave out anything that’s gold-plated or just gold-coloured, since those carry almost no value. Don’t bother cleaning anything aggressively. Scratches and dents don’t matter when gold is being valued by weight, and harsh polishing can do more harm than good on items that might have resale value as jewellery.

Bring photo ID, because buyers in New Zealand are required to verify who they’re dealing with. And if a piece has a story or looks unusual, like an antique brooch or a signed designer item, ask for it to be assessed separately. Some pieces are worth more as jewellery than as scrap.

Spotting a Fair Offer

A fair offer is one you can follow. The buyer should be able to show you the weight, the purity, the price per gram they’re using, and how they got to the final number. If you get a figure with no explanation, ask for the breakdown.

It’s also perfectly fine to get a second opinion. Take your time, compare two or three quotes, and don’t feel guilty about saying you’ll think about it. Anyone confident in their pricing won’t mind.

If you’d like a clear, no-pressure valuation, the gold exchange is a sensible place to start. You can also browse more from TJ Diamond if you’re curious about jewellery beyond selling.

Frequently Asked Questions

1. Do I need to know the karat of my gold before selling?
No. A buyer will test it for you. But if you can read the stamp on your piece, it helps you check that their numbers match.

2. Will I get more if I sell a piece as jewellery rather than scrap?
Sometimes. Designer pieces, antiques and items in excellent condition can be worth more than their metal weight. Ask the buyer to tell you if they spot anything like that.

3. Is it safe to sell gold without a receipt?
Yes, in most cases. Most people selling old jewellery don’t have receipts. You will need a valid photo ID, though.

4. How long does the process usually take?
Weighing, testing and quoting often takes only a few minutes for a handful of items. Larger collections may take longer.

5. Should I sell now or wait for a higher gold price?
Nobody can predict the market reliably. If you need the money or simply want the clutter gone, selling now is reasonable. If you’re not in a hurry, you can keep an eye on the price and decide when it suits you.