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We're here to help with any questions you may have!
We're here to help with any questions you may have!
Selling gold jewellery is a common way to get extra cash. Many people in Australia sell old or unwanted gold to pay bills, cover emergency expenses, or simply because they no longer use it. In fact, according to the World Gold Council, over 1,100 tonnes of gold are recycled every year, and a large part of it comes from jewellery.
If you want to sell your gold jewellery in Sydney to a dealer, it's very important to know the right steps. When you understand the process, you can avoid mistakes, stay safe, and get the best price. This blog will explain everything in a clear and simple way.
Before you go to a dealer, you should know what your jewellery is really worth. The value of gold depends on three main things—karat, weight, and the current gold price.
Karat tells you how pure the gold is. 24 karat means 100% pure gold, while 18 karat means the piece contains 75% gold. Most jewellery is between 14K and 22K. The higher the karat, the more valuable your gold.
Weight is measured in grams. The heavier your item, the more it's worth. Dealers use special scales to weigh gold accurately.
Gold prices change daily. In June 2025, the price of gold is around AUD $3,500 per ounce, or about AUD $112.50 per gram. These numbers go up and down based on the global market, so it's smart to check the latest rates before you sell.
Getting a proper appraisal from a professional can help you understand what your jewellery is worth. It gives you confidence when you talk to dealers and helps avoid being underpaid.
Making your gold look clean and organized can help dealers take your offer seriously. Use warm water and a soft cloth to gently wipe off any dirt. Avoid harsh cleaners—they might damage the piece.
If you have any old receipts, certificates, or appraisals, bring them with you. They can show that the item is real and may help you get a better price. Some people also take clear photos of the jewellery if they plan to get online quotes first. Clean, well-presented jewellery makes a better impression.
There are many gold dealers in Australia, both online and in stores. But not all of them give fair prices.
It’s very important to take time to do your research. A good dealer should be honest, licensed, and easy to reach. You can check reviews on Google, Trustpilot, or other trusted websites. This helps you know if they are the best gold buyer in Australia or not.
Also, some dealers may buy other items like watches. If you have old designer watches, you might also want to look for a watch buyer to get extra value from your sale.
A report from the Australian Competition and Consumer Commission (ACCC) said that over 65% of scam complaints in the gold and jewellery trade involved unlicensed or shady dealers. That’s why you should always choose carefully.
If you are located in New South Wales, especially around the city, there are many options for cash for gold Sydney services. These businesses often offer quick payments and easy walk-in options. Just make sure you compare a few places to get the best deal.
Getting more than one offer is one of the smartest things you can do. Many people make the mistake of accepting the first price they hear. But prices can vary a lot between dealers.
You can visit a few shops in your area or even ask for quotes online. Some online dealers let you send pictures and details to get an estimate. If you like the offer, you can mail the item in a secure pack.
A recent customer study showed that people who received three or more quotes were able to get up to 20% more money than those who sold to the first dealer they visited. That’s a big difference.
Take notes of the quotes you receive, and don’t be afraid to let dealers know you’re comparing prices. This can often lead to better offers.
Once you’ve chosen a dealer, the sale process usually begins with a short inspection. The dealer will weigh your jewellery and check the karat to confirm how pure it is. They may use a small electronic machine or a special liquid for testing.
After that, they’ll give you a final offer based on the day’s gold price. If you agree, they will ask for your ID and may have you sign a short form confirming the sale.
Most dealers pay right away. You can choose cash, a bank transfer, or even a cheque in some cases. Before you leave, always ask for a written receipt. This helps protect you if any issues come up later.
Many people don’t know they can negotiate with gold dealers, but you can. If you already know how much your gold is worth and have quotes from other places, you can ask for more. Dealers often have some room to increase their offers, especially if they know you’re shopping around.
Keep the conversation friendly and respectful. Explain that you’re looking for a fair deal. If the dealer sees that you are informed, they may offer a better price.
After selling your gold, keep all the documents safe. These include the receipt, any proof of payment, and a copy of the ID you used.
If you change your mind after the sale, it may be too late. Most dealers do not allow returns or refunds. However, some may offer a short grace period, so always ask before agreeing to the sale.
In Australia, selling gold jewellery usually does not result in a tax bill if the jewellery was for personal use. But if you bought the gold as an investment and you made a profit, it may be subject to capital gains tax (CGT).
The Australian Taxation Office (ATO) states that CGT applies if you sell an item worth more than AUD $10,000 and it was held as an investment. If you’re not sure, it’s best to speak to a tax professional. They can tell you what records to keep and whether you need to report the sale.
Selling gold jewellery to a dealer is a simple process if you take the right steps. First, understand what your jewellery is worth. Then clean it, gather any documents, and find trusted dealers. Always get more than one quote, and don’t be afraid to negotiate.
Once you choose the best offer, check the paperwork and make sure you get a receipt. Think about possible tax rules if the jewellery was an investment.
With gold prices remaining strong in Australia, now may be a great time to sell. But as with anything involving money, being informed is the key. Follow these steps, and you’ll sell your gold jewellery safely, confidently, and for the best possible price.
Q1: Can I sell damaged or broken gold jewellery?
Yes, dealers care about gold content, not condition. Broken jewellery is still valuable if it contains real gold.
Q2: Do I need a receipt or certificate to sell my gold?
No, but having documents can help prove value and get better offers.
Q3: Is it safe to sell gold online?
Yes, if you use a trusted dealer. Always check reviews and make sure they offer secure shipping and payment methods.
Q4: Will I pay tax on the money I earn from selling gold?
Usually not, unless the gold was an investment and you made a profit over AUD $10,000. Talk to a tax expert if you’re unsure.