Submitted by Martin Strauss
The Gold market:The last five years has seen a 150 per cent increase in the value of gold. A piece of 14K gold weighing the same as a penny would be worth nearly $50 at current prices. This boom has lead to many new buyers entering the industry. How can you protect yourself and realize the best return when selling your unwanted gold? Get several quotes: Firstly, not all gold buyers are paying the same. It’s best to get several offers and never let yourself be pressured to sell immediately.We advise avoiding hotel or“gold party”buyers due to the high pressure tactics sometimes used. If you must go,make sure to have several comparison quotes in advance.
Reputable buyers will pay for both the gold AND the diamonds - be cautious of anyone who offers to remove the diamonds so they can buy just the gold. Loose gemstones are extremely difficult to resell and you may destroy the finished value of a piece by taking it apart. Sell with safety: Secondly, treat gold like cash. You’d never mail cash so you shouldn’t mail gold. You’ll often find that the mail“insurance”being offered is limited to $100, which may be far less than its worth. Once your jewelry is in the mail you’re at risk - you haven’t been paid and you don’t have your gold. The companies you deal with should operate a storefront, be
Quality service is a major strength and focus at AMJ Campbell Kelowna. NA OW KEL AMJ CAMPBELL Whether you are looking to move locally, nationally or internationally we are the company for you. We pride ourselves on understanding our customer's needs. If you are looking for exceptional, personalized service call, email or stop in to book your next move with AMJ Campbell.
licensed and have regular operating hours. They should pay you in cash, immediately, at the time of sale. This avoids the bad cheque problem, which plagued clients of a Kelowna hotel buyer. These steps help protect you by putting the transaction firmly in your control: you can get competing quotes, attend when it’s convenient, and get paid in safety. How it works: Bring your items to the buyer. Standard procedure is to sort the gold into karat ranges (gold has different purity marked by Karat ratings). The buyer may run tests to determine if the gold and/or any diamonds are real. After weighing,a tentative offer would be extended to purchase.If the offer is accepted, the legitimate buyers will need a piece of photo ID to comply with municipal bylaws. A purchase document is written, payment is made and you can leave possibly hundreds or thousands of dollars richer. MARTIN’S company Premier Jewellery and Loans is one of the largest gold purchasers in the Okanagan. With 17 years of experience Martin is a GIA Certified Diamond grader.
National Quality Award Winner
We buy YOUR old, unworn or used jewelry. We pay immediately for gold, silver, diamonds, and prestige watches.
103 - 2662 Compass Court, Kelowna
250-769-7974 EMAIL:
jfinnerty@amj-kelowna.com
www.amjcampbell.com
10 • FALL 2012 • BEYOND 50
17 years experience, BBB rated A+
sellusgold.ca
1980 Bredin Rd, Kelowna • 250-717-0234 Locally owned and operated. A Forum for Boomers and Seniors • www.Beyond50mag.com
PHOTO• SHUTTERSTOCK.COM
Be Savvy When Selling Gold