ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Eager to finally get out and generate some extra money, Americans are flocking to gold buyers and pawn shops with their gold and diamond jewelry.
The president of National Jewelry Buyers, one of Albuquerque’s most prominent gold and silver exchanges, shares his insight on this booming trade.
“In the past, our industry catered mostly to those needing some extra cash. People were often embarrassed of looking desperate if they sold their jewelry,” explains Romie Salem. “All of that has changed.”
He elaborates, “With gold prices near their all-time highs, people recognize it’s a great opportunity to cash out the unnecessary jewelry they have accumulated over the years. It’s a quick and easy way to alleviate some of the financial hardships caused by Covid-19.”
Despite all the excitement, many are still hesitant and skeptical. “Complaints are rampant about businesses that gouge customers and pay a small fraction of what pieces are actually worth,” says Salem. “Indeed, all gold buyers are NOT the same. Customers frequently tell us about other places that offered them much less than what we paid. The difference is sometimes shocking,” he acknowledged.
So how should one go about selling her/his jewelry? “Use the same common sense you would when making a major purchase,” urges Salem. He offers four specific tips:
PLACES TO SELL GOLD: “When you think of buying appliances, you think of Sears or Best Buy. When you want household supplies, you go to Walmart or Target. Use the same logic,” says Salem. “Sell your valuables to a strong, specialized, reputable jewelry buyer.”
SHOP AROUND. Always get more than one quote. “You’ll be amazed how far apart offers can be. We love our policy of ‘no games & no negotiating—just our best straightforward offer’. Customers really appreciate it,” says one employee.
COMPARE “TOTAL AMOUNT”. Don’t bother asking how much per gram or what percentage they pay. Just get the total amount they’ll pay for your jewelry. By comparing just “the bottom line,” you’ll avoid falling prey to the misleading tactics some dealers use to make their offer sound great.
SELL DIAMONDS TO A QUALIFIED DIAMOND BUYER. Despite their signs displaying “buying diamonds,” many cash-for-gold businesses will actually pay little to nothing for diamonds. They are mainly interested in melting the gold in which the diamonds are set. National Jewelry Buyers is one of the few specialized gold and diamond buyers in Albuquerque, where your diamonds will be graded and appraised by an expert.
For more information, including current market prices and other details on getting the most for your jewelry, visit https://www.nationaljb.com/.