Things to consider before selling gold kept at home:From BIL lab test to removing stones from the precious metal, here is a 6-point checklist

India never loses its shine for gold. Along with being an investment, it’s also an emotion and works like insurance when needed. Currently gold prices in India are at record high levels. Many people see this as a big opportunity to sell their home jewelry or gold to earn good profits. By taking advantage of increased gold prices, this money can be invested more practically. Before selling jewellery or gold, it’s very important to check its purity, current rates and select the right buyer. Lets delve into following points: How to sell gold? The price of gold is over ₹1.31 lakh per 10 grams. Gold prices have seen a sharp surge in the past few weeks. In such a situation, many people want to sell their gold or jewellery kept at home to capitalize on high prices, but when it comes to selling physical gold like ornaments, jewellery, coins, people often end up making deals at lower prices due to lack of proper information. Better prices are offered on hallmarked jewellery How valuable your gold is not determined by its design alone. Its purity, hallmarking and custom work also determine the selling price. Hallmarked jewelry often gets excellent rates on sale because the purity of gold is certified. In contrast, buyers check the purity themselves for non-hallmarked jewellery and make price deductions. Without hallmarking in jewellery, they get an opportunity to negotiate. How Jewellery Price is Determined? Before selling jewellery, it is very important to understand that its price is not determined by market rates alone. This price is determined by 3 factors in total, see in the graphic- Arpan Soni says that when you buy jewelry, you pay for the making charges and the cost of stones used in its design, but generally you don’t get any value for the stones at the time of sale. Therefore, only the price of pure gold is considered in the calculation. Where is it profitable to sell gold? Choosing the right method and place to sell gold is very important, so that you can get the right price for your jewelry or pure gold. There are 4 main options that can help you understand where it would be better for you to sell gold in different circumstances. 1. Convenient to sell to local jewellers, but caution is necessary Jewelers near your home usually buy gold easily. Such shopkeepers can give you immediate cash payment or bank transfer options, but keep these things in mind- 2. Better prices and transparency available with branded gold buyers Many branded platforms are now active in most cities, their process is relatively transparent. 3. Jewellery Brands’ Buyback Plan Many large jewelry brands offer buyback or exchange facility on their own old jewelry. 4. Online Gold Buyers Now many digital platforms offer the facility to sell gold from home. Things to keep in mind before selling jewellery If you are going to sell your jewelry, make sure to keep some important things in mind. First, check the current gold rate as prices may vary in different cities. Get the purity of jewelry tested from a BIS certified lab to ensure you get the right value. What documents should you keep with yourself when selling gold? If you are going to sell gold, keep documents like Aadhaar or PAN card with you for identification, as these are required at most places. If you have the jewelry purchase bill or hallmark certificate, make sure to show it. This increases the credibility of your jewelry and there is a possibility of getting better prices. However, local jewelers do buy gold even without bills, but in such cases, they often deduct some amount from the price. ​