Thinking of selling old jewellery? Whether it’s gold, silver, costume, or antique pieces, this guide walks you through how to get the best price safely in the UK. Learn how to value items, choose the right buyer, negotiate, and complete the sale — step-by-step.
⭐ Golden Tip — Always Compare Before Selling
Never sell to the first buyer who gives you a price. Visit at least three trusted local jewellers on the same day and get written offers for your gold. Some buyers may insist you don’t check elsewhere or try to rush your decision — don’t fall for the pressure.
Gold prices change daily in the UK, so comparing offers on the same day is important. If you return later, a buyer can easily say:
“The rate has changed now — price is lower today.”
By comparing multiple offers, you stay in control and make sure you get the best market price for your gold jewellery. ✅
1. Identify what you have
- Type: gold, silver, platinum, costume, or mixed-metal.
- Purity / Carat: 24K, 22K, 18K for gold; sterling (.925) for silver. Look for hallmarks or stamps.
- Weight: get the weight in grams (or tola if used) — this is crucial for metal value.
- Condition & stones: note missing stones, repairs, or heavy wear — these affect price.
- Provenance & brand: designer names, certificates, or receipts add value.
2. Quick valuation basics
- For precious metals: rough metal value = weight × purity fraction × current metal rate (e.g., 24K gold per gram).
- Example: 10 g × (22/24) × current 24K rate = metal value estimate.
- For jewellery with stones or designer value: diamonds, rubies or brand names may add value. Ask for an appraisal.
- For costume jewellery: value depends on brand, age, and collectibility — research marketplaces (e.g., eBay, Etsy) for comparable listings.
3. Get accurate weight & purity
- Use a jeweller’s digital scale or have a reputable jeweller weigh it.
- For unclear hallmarks, request a simple assay or purity test. Many reputable shops offer this.
⭐ Golden Tip — Don’t Sell Trendy Jewellery as Scrap
If your 22k gold jewellery is still in fashion and in wearable condition, never accept scrap price for it.
Jewellers can resell popular Asian styles — so they should offer you a better price than just the melt value.
👉 What to do:
- Visit 2–3 jewellery shops and mention it’s wearable, not scrap
- Ask if they will resell it and offer a resale-based price
- Negotiate confidently — Asian jewellery has high demand in UK cities like Southall, Birmingham, Bradford & Manchester
- Don’t rush — compare all offers made on the same day
Competition between buyers works in your favour — so use it to protect the value of your jewellery. ✅
4. Choose the selling channel (compare pros/cons)
A. Local jewellers / pawnbrokers
- Good for fast local cash.
- Jewellers may offer fair metal rates but factor in their margin.
- Pawnbrokers usually pay less than jewellers for outright sales but offer loans.
B. Specialist bullion / scrap buyers
- Pay closer to melt/value for precious metals.
- Best for plain gold or broken jewellery with little gem/brand value.
C. Online gold buyers (mail-in)
- Convenient, often insured postage.
- Read reviews; check payout speed and insurance coverage.
D. Auction houses / antique dealers
- Best for vintage, antique, or designer pieces with collectible value.
- Fees/commissions apply; may take longer.
E. Marketplaces (eBay, Etsy, Facebook Marketplace)
- Potentially highest price for branded/designer items and costume jewellery.
- Requires good photos, descriptions, and seller reputation.
F. Consignment / local shops
- Good for higher-end branded items; you get retail price minus commission.
5. Prepare your jewellery to sell
- Clean gently (don’t use harsh chemicals). A soft cloth and mild soap for non-porous items is fine.
- Photograph well for online listings: multiple angles, close-ups of hallmarks and any damage.
- Gather paperwork: receipts, certificates, original boxes — these increase buyer confidence.
6. Get multiple offers (always)
- Obtain at least 2–3 quotes (local + online) to compare.
- Ask each buyer to provide a written breakdown: weight, purity, rate used, deductions (melting, commission), and final offer.
⭐ Golden Tip — Understand Fair Pricing & Avoid Low-Ball Offers
Jewellery shops must make a profit — that’s normal. But the key is knowing what a fair offer looks like before you sell.
Most reputable gold buyers in the UK offer around 3%–5% below the market value (purity value) of your gold.
For example:
If 22k gold price today is £100 per gram
A fair buying offer would be around £95–£97 per gram ✅
But if someone offers £90 or less, that’s a warning sign 🚫
It means they are trying to make too much profit from your jewellery.
👉 Be wise:
- Know the current gold rate before you visit
- Get a written quote from at least 2–3 jewellers
- Don’t accept big reductions from the actual price
- If someone pressures you — just walk away
Good jewellers value long-term trust, not quick traps.
7. How to negotiate
- Start from your estimated metal value (or market value for branded/antique).
- Ask buyers to explain each deduction. Typical deductions: refining, labour, dealer margin.
- If selling multiple items, bundle them — some buyers give better rates for larger lots.
8. Complete the sale safely
- In-person: meet at the jeweller’s shop or a public, reputable location. Get a written receipt.
- Mail-in: insure the shipment, use tracked delivery, keep proof you sent it. Only send after verifying buyer’s reputation.
- Payment methods: bank transfer is preferred for traceability; avoid cash if large amounts unless you get a full receipt.
9. After the sale — paperwork & tax
- Keep the sale receipt and any communication.
- Most private sales of personal items are not taxable as income, but if you trade regularly you may need to check tax rules. When in doubt, consult an accountant.
10. Special tips by jewellery type
- Plain gold (broken, scrap): scrap/bullion/specialist buyers best.
- Designer & branded: consignment or online marketplaces can fetch premium prices. Get authentication.
- Jewellery with stones: ask for gemstone appraisal if stones are valuable; some buyers ignore stone value.
- Antique or costume pieces: auction houses or specialist vintage dealers may find collectors.
11. Safety & fraud avoidance
- Beware of buyers with unclear IDs or who pressure for immediate decisions.
- Watch for unrealistic “we’ll buy everything at market rate” offers.
- For online buyers: check Trustpilot/Google Reviews and payment terms.
- Never accept a cheque without cleared funds.
FAQ — quick answers (good for SEO)
Q: How much will I get for my gold jewellery?
A: It depends on weight, purity, current market rate and buyer’s deductions. Estimate using weight × purity × 24K rate, then expect a deduction for buyer margin.
Q: Do stones add value?
A: Sometimes — precious stones (large diamonds, rubies) can add significant value. Small stones or semiprecious gems often don’t add much unless certified.
Q: Can I sell jewellery with missing stones?
A: Yes. Buyers will factor in the missing stones in their offer. Plain metal value remains.
Q: How do I know a buyer is reputable?
A: Check reviews, ask for a written breakdown, verify business details and ideally use buyers recommended by local jewellers or community groups.