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Common Mistakes To Avoid When Selling Gold Online

4 min read

People around the world consider gold as the safest investment. Although people buy gold as a lifetime asset, there are times when they need to sell gold online to fund the many needs of life. However, due to a lack of awareness, people often make some mistakes that they can easily avoid by having the proper knowledge.

This article empowers you with the latest knowledge you need to avoid the top-6 mistakes while selling gold online and provides you with expert tips to sell gold for the best value in Ahmedabad.

 1. Selecting a Non-Reputed Buyer of Gold

The neighbourhood jewellery shop might seem enticing. It might also have the choicest furniture inside the shop. But, there is no guarantee that you would get more cash at your neighbourhood store than you would get by selling gold online. A reputed cash-for-gold company generally gives the best value if you want to sell gold in Ahmedabad.

2. Not Verifying the Method of Testing Gold

Jewellery or online stores that allow you to sell gold for cash rely on multiple testing methods like the nitric acid test, Karatmeter test, loupe test, electrical conductivity test, or melting of gold to determine its worth. Although there are many benefits of these tests, in the end, it does not value the actual quality of gold.

In contrast, an XRF gold testing machine is ultra-modern, reliable, non-destructive, and gives you accurate reading if you want to sell gold in Ahmedabad. XRF machines detect counterfeit jewellery like magic. XRF machines can accurately analyse gold jewellery, gold coins, bars, gemstones, and other precious metals.

So, from the next time onwards, when you plan to sell gold online, check the testing method and machine before handing over your precious asset.

3. Selling Gold Without Exploring Other Options

Selling gold online is generally the last thing that comes to people’s minds when they need cash urgently. However, once the need arises, people do not stop to think anything and visit a nearby shop or an online cash-for-gold store to sell their precious asset.

Impulsive selling of gold is as harmful as the impulsive buying of non-essential items. Try to sell gold online after comparing a few merchants or e-stores before choosing the best one.

4. Not Checking the Market Rate Before Selling Gold Online

The majority of sellers willing to sell gold in Ahmedabad do not check the prevailing market rate of gold before visiting an online or a brick-and-mortar jewellery store. They enquire about the rate after entering the store or visiting the website.

While online stores generally publish their rates in tandem with prevailing gold prices, jewellery stores rarely align their rates with the current market price, even when they display the rates on the public information display. It is why if you visit ten different stores, you would most likely get ten different rates for your gold.

As an informed buyer, you should check the international and domestic gold rates before selling gold online and clarify all doubts before selling gold in Ahmedabad.

5. Accept a Buy-Offer Without Cross-Checking

 

When you decide to sell gold in Ahmedabad, you might encounter many jewellers who would pressurise you to sell your gold early to lock-in the best price.

Consider this as a red-flag and think twice before succumbing to the pressure. No reputed gold buyer would ever force you to sell gold.

In contrast, when you sell gold online, you are at liberty to select the time and price, without anybody pressuring you for anything.

 6. Leaving the Premises of the Buyer Without Taking Any Cash for Gold

 

Many jewellery stores in Ahmedabad test the gold, quote an amount, and promise to transfer the amount that you are expected to receive after selling gold, via NEFT, IMPS, or RTGS. While in most cases, you will quickly receive the amount; but, in some instances, the sellers did not receive it in due time and had to make multiple rounds of the store to get their money.

To avoid this ordeal, you may choose to sell your gold online. Muthoot gold point gives you up to Rs. 10,000 in cash and transfers the balance amount instantly via online transfer. You may visit them at 4701, Vishal Commercial Centre Beside Jyoti Sangh Building, Opp. Axis Bank,,Patharkuva, Relief Road, Ahmedabad

Conclusion

Some people get emotionally attached to a jewellery store for all their gold-related needs. If you are not one of them and would not mind moving to a greener pasture for a better value of gold jewellery, then selling gold online can be a better option than selling gold at a brick-and-mortar jewellery store in Ahmedabad.