Here are some words of advice from Alex Mendieta, Director of Sell Your Gold Pty Ltd
When selling gold in Melbourne the most important thing to remember is to check and compare prices from different gold buyers. If a gold buying business does not advertise their prices it’s most likely because they are much lower than everybody else.
We have our prices advertised on our website because we are certain to be the highest paying Gold Buyer in the market. In other words, since we know that we are the highest paying company in the market, we encourage our customers to check our competitors rates and find out that we are true to our word.
Please be very careful of all those companies that repeatedly say they are the highest paying and yet they don’t have any prices available for the public.
Tips to follow when selling your GOLD,
- Please make sure to ask how much they are paying per gram when you go to the kiosks at the shopping centre or to jewellery stores. They usually try to avoid answering that question because they know people are now becoming educated and it is not hard to know that 9ct is NOT worth $7 per gram. This has been going on for a long time and hopefully this will stop soon.
- Have trust in a family business that has been around more than 50 years rather than a small company who is virtually unheard of.
- When a Gold buyer says they pay CASH, most of the time they actually pay you by cheque. Cheques must be deposited into your bank account, and you need to wait 3 days for it clear meaning you have no access to that money for 3 days. At Gold Buyers Melbourne we are located in a very Highly Secure Building therefore we always pay CASH so that you can use your money right away.
- Quite a few Gold Buyers around Melbourne do not test the gold and weigh it in front of you. They take it out the back to another room, which is hidden from view and you never know if the weight they say it is, is actually correct. At Gold Buyers Melbourne, all the jewellery is tested and weighed in front of you for your peace of mind.
- We use only the latest technology for gold testing. We use an XRF (X-ray Fluorescence) machine which reads into the gold and tells us via X-ray the exact make-up of the piece and what carat gold it is.
- If a company does not use an XRF machine, then this means they are not up to today’s standard of gold testing. By using the old method of “acid test” or “scratch test” a lot of these jewellers can rip customers off. Here is an example: Say a piece of jewellery was meant to be 18ct, however when it was made, there was too much alloys in the piece, which made the gold carat slightly lower to 17.5ct. When tested with the scratch test, it will read negative to the 18ct acid as its slightly lower. The next acid made for testing is 14ct. When tested with the 14ct acid, it will test positive. Therefore these gold buyers will pay you on the piece being 14ct. However, at Gold Buyers Melbourne, we use an XRF, meaning that we would pay you on the piece being 17.5ct which could be a difference of $7 per gram. If you had a chain that was 50 grams in weight, they would be UNDERPAYING you by $350!!!
- Some websites show two different prices, one lower for some states and one higher for other states. When you go to their store, they will try to pay you on the lower rate, hoping that you will not realise this. Be very careful of this.
- At Gold Buyers Melbourne we treat all our customers like family. It is a very friendly environment with very friendly and experienced staff. We also have a qualified gemmologist and jewellery valuer in our office to run through any questions you may have. We understand that selling your jewellery can not always be an easy thing to do with some pieces being sentimental, and we are happy to help with enquiries. We are also very flexible and happy to stay after hours if you are running late.
Owner and operator of
Sell Your Gold Pty Ltd
"Just a quick thank you guys, I really appreciate the great service and help when it came to selling my gold you are the best gold buyer. The honesty I received was amazing they told me one of my items I could receive more money and sent me to the right person. Thank you so much."
- Testimonial Emailed to Gold Buyers Melbourne by Jessica Alma
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