Venturing into the used gold jewellery market has its perks and challenges alike. Jewellers always ensure that they are securing their money’s worth. Price, condition of the jewellery and the quality of gold are some deciding factors for them. However, on gaining experience and expertise in the used gold jewellery market, such buyers can reap sizeable revenues.
Benefits of Being a Used Gold Jewellery Buyer in Noida
Used gold jewellery buyers in Noida and other parts of the National Capital Region in India make considerable margins in the used jewellery business. It is a segment slowly gaining more popularity with an increase in the private collectors in the nationwide sphere. Here are some notable benefits of being a used gold jewellery buyer:
- Vintage Jewellery: One of the considerable benefits of being a used jewellery buyer is that you come across the rare pieces that could be a part of family heirlooms. Such rare pieces have a high resale value as there’s a colossal market for the vintage jewellery pieces. Having rare and unique pieces of jewellery will attract more customers in that segment. Noida is one of the hidden gems in the country to find rare and vintage jewellery.
- Reduces the Carbon Footprint: Precious metals such as gold, silver, platinum, etc. are raw materials to make the jewellery pieces. Jewellery manufacturing is an intricate process that involves the burning of fossil fuels. Hence, such processes increase the carbon footprint that can cause harm to our environment. When a customer purchases second-hand jewellery, it reduces the demand for the new jewellery. It also reduces the manufacturing of these precious metals, thereby reducing the carbon footprint as well.
- Quality Jewellery: Many jewellery pieces passed down from generations to generations as the ancestral memories. Some of these pieces made of pure and high-quality gold are worth buying. Some old jewellery sellers usually polish such pieces to get a higher value. Noida is one of the cities where you will find quality jewellery at reasonable rates. Once you screen the jewellery and do a thorough quality check, you will find that the gold is of high quality and can resale it at a much higher value.
- Increased Profits: Another perk of being a gold jewellery buyer in Noida is the increased profits you enjoy. Making jewellery from scratch is a costly process. It is one of the reasons why gold jewellers charge a high price for the making charges. However, when it comes to used jewellery, you don’t require to bear that cost.
Since precious jewellery also remains a favourite option to wear only on auspicious occasions, there are high chances that the jewellery you buy is almost new. Sometimes, just polishing such pieces increases their appraisal value to a greater extent.
Types of Used Gold Jewellery Buyers
The used gold jewellery buying market is a vast one to explore. It is essential to know the market players, their methods, the types of customers, etc. Solely knowing jewellery isn’t going to be adequate for you. If you are contemplating taking on the used gold jewellery as your venture, you need to know the types of gold jewellery buyers in the market.
Local Jewellery Buyers: Local jewellery buyers aren’t interested in the design or the quality of gold. They purchase gold jewellery that they can resell. They are more invested in making a profit on it. Local jewellery buyers usually buy used gold jewellery to sell to the refiners or other customers. Looking out for the vintage or rare jewellery pieces isn’t their priority.
Pawnshops: Pawn shops don’t primarily deal in the jewellery pieces. They purchase valuable items from those customers who are in dire need of cash. They buy such things for a low price and resell that at much higher prices.
Vintage Jewellery Buyers: Such used jewellery buyers always look for the rare jewellery items to buy. They have a clientele base of private buyers who are willing to pay high prices for the rare jewellery items. Vintage jewellery buyers are very much particular about the design, origin and quality of the jewellery they buy. They conduct several quality checks before buying the jewellery pieces.
Should You Buy Used Jewellery?
If you are venturing into the used gold jewellery business, here are some pointers to keep in mind:
- Look for the indications of wear and tear;
- Look out for the broken clasps or worn-out prongs;
- Ensure that you are paying for its present value and not the appraisal value;
- Conduct a thorough quality check before delivering the final price.
You will find a vast market of used gold jewellery buyers in Gurgaon, Noida and several other parts of Delhi. It makes the used jewellery market very much competitive. However, with the right eye for unique pieces and a reputed brand, you can flourish in this business.