Looking for something good is always harder than looking for something bad and when it comes to doing business this factor is a critical success factor that could determine whether you will get a good deal or a bad deal. Locating companies that deal with gold is fairly easy in Australia; however locating the ones that are good, transparent and honest may require you to do a bit of research work.The main thing you have to look for when you are looking to dealing with gold is the age of a company, if the company is more than 10 years old, it would be safe to assume that they have been conducting business in a fair manner. Gold buyers often do not last long if they practice shady deals. Another factor is that although the dealers that have been around for more than a decade are generally honest, it is important to filter out the ones that apply hidden fees and the ones that don’t.Larger companies that deal directly with refiners often provide the evaluation for free and they also offer higher prices.
So if you are looking for gold buyers, you have to find out these things before you decide to take your loot to them. Always remember that the form that the gold you are taking to sell also plays an important part on how much you will make, if you are taking scrap gold, then it is better to take it to companies that deal with refiners directly as the cost of refining the gold into its pure form would be lesser, but if you take it to a non-affiliated dealer, then the commissions and fees they will be eventually charged will be passed on to you, as for jewellery the deal is usually straight forwards in any gold dealers shop provided you know the value of the jewellery that you are intending to sell. Basically gold dealing is an economy of scale; the more gold you are dealing with the more leverage you have due to the fact that the quantity will compensate for the operational cost which becomes insignificant as the quantity becomes higher. This is how some gold dealers are able to offer more than other – lower cost per ounce of gold that they buy or sell!
Having options is the best advocate towards keeping desperation at bay so no matter what you do or who you decide to sell you gold to, make the best out of it by first placing your ‘gold offer’ online – eBay is a good venue to test the value of your small fortune in gold, the offers that people make online will give you a slight idea of how much it is actually worth before you visit the gold dealers in person. It is always the best approach when selling gold to be prepared for the worst case scenarios such as price fluctuations and hidden costs that may drive your profit down considerably. Keeping tabs on the prices of gold is also helpful as if the price of gold for that day had dropped considerably, then its best to wait a week or two for prices to stabilise. Sometimes these stabilisation processes may take months – thus the best approach to investing in gold is to buy it, keep it and hope you never need it in the near future.