Types of Value That Determine the Highest Price for Gold Brampton

Thanks to the high gold prices nowadays, selling your gold coins, bars, or jewelry is lucrative. Several dealers have come up touting as the ideal choice for those looking for the highest price for gold Brampton. This does not mean that any dealer will do for your gold sale. It is essential to understand the value your dealer is using to determine the price he/she offers for your transaction. Here are the types of value used for gold.

Intrinsic or Cash Value

This is a combination of the gem and metal value of your piece. The metal value, in this case, is the gold in your piece, while the gem value denotes the stones like sapphires, diamonds, and emeralds in it. Both values are primarily dependent on the current spot price of the gold and gem you are selling.

Resale Value

This is a higher value compared to the intrinsic one. It includes the artistry used to make your jewelry plus its intrinsic value. Moreover, the dealer offering the highest price for gold Brampton will add a design premium to the amount he/she offers if your jewelry has a unique design.

Appraised Value

This is the value on which most people will base their expected highest price for gold Brampton. The appraised value is, however, only theoretical. It does not state what your piece is worth but rather what it will cost to replace it. This explains its standard use when taking insurance for your jewelry.

Cleaning and repairing your jewelry will undoubtedly increase its value. Most dealers will, however, fleece you if you are none the wiser on the above values when determining what will be the best price from your gold sale. Unfortunately, there is no rule of thumb when setting the price of gold. Your best bet is dealing with an honest and certified gold dealer.