Types of Gold Jewelry [Plus Tips on Buying and Selling]

Types of Gold Jewelry

Gold jewelry is one of the luxury items coveted by many people, especially for those who are women.
Gold has a very valuable value, whether it's for jewelry alone or for investment instruments.
How not, the price of gold tends to increase even though slowly. So, many people suggest saving gold as an investment option. 

In addition, gold jewelry is also easy to resell. So, it is very fitting to be used as a handle during an emergency.
For those of you who want to invest in jewelry, here is important information regarding gold that you need to know, starting from the type, price, to tips on selling it.

Types of gold jewelry

Gold jewelry has types that we can see from the gold color that covers the jewelry. The most common ones on the market are yellow gold, white gold, and rose gold.

1. Gold yellow

This gold is what most people buy. The yellow color is inherent and synonymous with gold. Usually, yellow gold is made with a mixture of pure silver.

2. White gold

After yellow gold, there is white gold which is no less popular. Generally, this type of jewelry has a higher price than yellow gold.
The high price is comparable to the manufacture which is fairly complicated because it has to mix pure gold, pure silver, nickel, and sari tin.

3. Rose gold

Lastly is rose gold or red gold. Rose gold is obtained from a combination of copper and pure gold, giving it a pink or pink color.
Rose gold colored jewelry is most often used by young people because the color is not too flashy like yellow gold.

Things that affect the price of gold jewelry

Each piece of jewelry made of gold has a different price. There are many factors that are responsible for determining the price of jewelry on the market. Anything?

1. Material

The first is the material of the jewelry maker itself. If the pure gold content is greater than the content of other mixed materials, the price will be more expensive.
On the other hand, if the pure gold content is very little compared to other materials, of course, the price is cheaper.

2. The amount of carat

You must have often heard of 24-carat gold, but do you know what carat is? Rust is a unit measuring the level or level of purity in precious metals.
The production of precious metals comes from a mixture of various metals that are melted into one.
However, in jewelry, of course, this carat measures the pure gold content in it. The highest is 24 carats, which means the purity of gold reaches 99.99%.
That is why 24-carat gold has a higher price than other carats.

3. Gold production

Another factor, of course, world gold production. When gold production is low, the price of gold jewelry will automatically be expensive.

How to estimate the price of gold jewelry

So that you don't get tricked or find that the selling price of our jewelry is far below the market, it's good to understand how to estimate gold too.
That way, the price has been found out as well as making bargains for potential buyers. Here are the ways!

1. The purity rate of gold in jewelry

For example, the purity level of gold in jewelry is around 80 percent. Then determine the true value of the gold using the formula for the price of the precious metal x percent of the gold content.

2. The higher the gold purity level, the higher the selling value.

Know the gold shop's considerations for appraising jeweleryMost gold shops are only after gold content in the jewelry because it will be melted down again.
Even so, still, jewelry designs or models can still be considered in estimating prices.

3. Understand how gold shops take advantage

Each gold shop has its own policy of determining profits. However, the average gold shop is chasing a 3-5 percent profit from the gold sold.
So, if the gold content of the jewelry that you want to sell is 80 percent, the gold shop will bid at 75 percent.

Gold jewelry buying tips for beginners

If you are planning to buy jewelry made of gold, pay attention to the following tips so as not to be deceived by rogue traders.

1. Find a trusted shop

First, make sure the shop you want to visit is trusted. The characteristics of a trusted shop can be seen from the many branches of their shop and of course, the jewelry that is sold is guaranteed with a certificate.

2. Check the condition of the jewelry before buying it

After choosing the preferred jewelry modal, check again before buying it. See if the jewelry is in good condition or something is defective or damaged.

3. Buy jewelry made of gold, not only gold plated

Then buy jewelry that is actually made of gold, not gold plated. Gold plated jewelry is usually very cheap and difficult to make an investment instrument.

4. Find out the price of gold in the market

Find out the price of pure gold in Antam. The price of pure gold can be used as a reference for the price of gold jewelry.

5. Make sure there is a certificate

Finally, make sure that the jewelry you buy has a certificate. This certificate is not only proof that the jewelry is authentic, but also to keep the selling price high.

Tips for selling gold jewelry so as not to lose

Gold jewelry can be sold at any time, especially when your needs are an emergency.
But unfortunately, sometimes selling gold jewelry can make a loss and the price is far below the purchase price.
One of the efforts to maintain your financial health is to have health insurance. With this protection, you don't need to spend any more money when a health risk occurs.
So, to minimize these losses, try the following ways to sell gold.

1. Update the latest gold prices

Make sure you have the latest precious metal price information. First-hand information if necessary. For example, contacts with Antam are usually the benchmark for gold prices.
So, avoid getting gold price info from newspapers or others because the numbers can vary.

2.  Tour the gold shop

If you want to get the best price, there's nothing wrong with going around to several gold shops first.
It does take effort. However, you can at least get additional info. The next time you want to sell it again, you will find a gold shop that offers the best price.

3. Check the gold shop response

Don't just check the price at the gold shop, but also see the response. If you see that the gold shop owner is very passionate about the items you carry, that is a sign that the value of gold jewelry is much higher than the offer given.

4. Bring a purchase note

Actually, this trick has its pluses and minuses. The plus is that the buyer does not need to estimate the level and weight of gold again.
The minus is that the buyer will offer a price that is not far from the value stated on the note.
Even so, this purchase note can provide bargaining power to ensure that the origin of the gold jewelry is clear.
Or in other words, gold jewelry is legal goods, aka not the result of a crime.

5. Sell to collectors

This method is most effective when gold jewelry has high artistic value, is unique, and interesting. Especially if there is a long history of gold jewelry.
For example, a jewelry object that is going to be sold is one century old or a famous figure has owned it.
By selling to collectors, the gold jewelry can be valued higher because of its sentimental value content.

6. Have an auction

There is nothing wrong with making a small auction involving your own friends.
Offer to those who are willing to redeem gold jewelry by auction. Of course, before doing this, at least you already have a price range for gold jewelry to be sold.

Protect gold jewelry with insurance

Not only gold jewelry, but you must also have other valuable assets at home, right?
Now the problem is what if there is a fire or theft that hits our home or business building. Everything can be sold out.
As a solution, you can protect it with property insurance. Thanks to the benefits of property insurance, you can get cash compensation if your valuables or business assets are damaged due to an accident.
Especially if you want to get protection for your valuables at home, you can get it from fire insurance.

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