Emergencies are a natural part of life, and when they occur, people often turn to selling gold as a safety net as a last resort. When selling gold, a few crucial queries include: will I receive a reasonable rate? How will the valuation be conducted? What about the gold stones? What steps are included in the process? Therefore, before selling, you should educate yourself. Here are a few crucial details you need to know before selling gold jewellery in Chennai.
Things to know before selling gold in Chennai
#1 Retain Invoice
When you go to sell jewellery, a good jeweller will always ask for the receipt or invoice. Therefore, never forget to carry your invoice.
#2 Worth of Gold
You must comprehend the value of the gold you intend to sell. Take quotations from several shops as a result. There may be some variation in the quotes obtained because there are no defined techniques that can be utilized to establish the sale price. Get at least three to four quotations so that you can thoroughly assess the jewellery’s value and decide on the maximum price for the item you are selling.
#3 Certification of Gold
Selling jewellery at a BIS-verified shop or store has many advantages. In these stores, all information is provided by the software. The software also produces the verification receipt. You may find details about the gold’s purity and quantity in this receipt. Only if you are aware of the proper amount of gold will you be able to negotiate the best price. Sales will be more dependable if this effort is based on technology and software.
If you are willing to sell gold in Chennai, it is critical to know about the valuation process in Chennai.
Gold Valuation process in Chennai
The hallmark, a number stamped on your jewellery that denotes the gold content, is first used to determine the gold content. If there is no hallmark, you can test your gold to determine its gold content and pay accordingly using testing processes like the touchstone, acid test, and XRF. If a computer XRef test is carried out, ornaments won’t be harmed. In addition, there is no guarantee that gold decorations will not be damaged.
Read Also:- GST on Gold – Overview, Calculation, Impact & Exemption
Documents required for selling gold in Chennai
Many potential purchasers in Chennai, both new and old, may need receipts while buying gold. However, we are aware that your gold may be a family heirloom or something you purchased from a neighborhood jeweler without an invoice or bill. When selling gold, it’s critical to have the following paperwork available:
- Bill/Invoice: A trustworthy merchant will always request the invoice from you. The invoice will make particular reference to the gold’s purity.
- ID evidence: You can provide address verification for your PAN card using a driver’s license, passport, utility, gas, or phone bill.
Right time to sell gold in Chennai
If you examine the price trend of gold, you will notice that anytime the stock market declines, the price of gold rises. One of the finest times to sell your gold is right now. When gold prices are low, waiting is an option. When the market rises, you can sell your old gold jewellery, scrap gold, or gold bullion in Chennai for cash.
Choose the best offline or online gold buyers
Always strive to select the best local gold buyer or online gold buyers for the gold goods you are selling. For instance, if you want to sell antique gold jewellery, gold coins, scrap gold, gold bullion, or any gold that has been pledged, look for available online options as it helps to get a good deal.
Where can you sell gold in Chennai?
If you have planned to sell a gold item, such as jewellery, coins, gold bars, or even gold teeth, you need to be completely aware of what you own and the value of the item. Using internet calculators, you may quickly determine the estimated value of your precious object. Once you are aware of the price range, decide which selling approach is most practical for you.
Additionally, to help you receive the most value for your gold, check with a few different places and compare what they have to offer. You have the option of selling your gold things offline or online. Online gold buyers are many, and they are frequently the most straightforward and fastest option to sell gold.
