While most of the gold we buy does get melted down, about 5% of the items we see do actually get polished, repaired and resold. By buying gold with the intent to resell, we are able to offer higher prices for these items. We also buy and resell diamonds and bullion. Here are some of the things we consider when determining if an item can be resold – and a premium price offered:
1) Are there any diamonds in the piece? We always pay a higher amount for items with diamonds.
2) Is the piece from a brand name like Tiffany or Cartier? Again, we always pay a premium for high-end brand name items.
3) Is there a resale market for this item? Items that are still in style and purchased in the last few years, antique jewellery, and staples (diamond studs, eternity bands) are the most likely to fit into this category.
4) How heavy is the item? While we pay a premium price for heavier jewellery, often this gold was purchased and popular when the market value of gold was much lower and the piece more affordable. Heavy jewellery (chains etc.) are usually melted downs. Smaller pieces with a high degree of craftsmanship and intricacy are more likely to be resold.
5) What kind of condition is the item in? While we do repair many pieces before reselling them, this does add to our cost. Some items move from the online store to the melting pot based on condition.
If you want to get a fair price for your gold, visit one CANADA GOLD’S LOCATIONS in Vancouver, Surrey, North Vancouver, Richmond, Hamilton, Ottawa, Calgary, Edmonton, Toronto, Ottawa, or Halifax, find one of our nearby locations here. Canada Gold is accredited with the Better Business Bureau and is an authorized DNA dealer for the Royal Canadian Mint.